A logo is important because it represent the values and identity of your brand, the core service or product that you are trying to sell is reflected through it that is why a good logo is the key driving factor in the success of any brand. Here we discuss how a good logo can sky rocket your business to new heights.
Discloses your identity
A logo has been used upon by generations in business to mark the ownership of a product and a good logo does just that by defining the company’s services and putting a stamp on it. Your logo will be imprinted on everything within your company, be it your products that you are selling or you website or the business card. It has the power to communicate with your customer base regarding what the company does, what it stands for and what services or products does it sell.
Customers are attracted to inquire about you
We have left the black and white era a long time ago and now people take a lot of interest and are instantly attracted by colorful designs. The logo that your company puts out to the public, if it is vagrant with excellent color combinations and beautiful design, it will attract the attention as well as the curiosity of the public and would force them to take an interest into your goods.
Differentiates you from the competition
Logos are often differentiated based on the industry that the business belong in, for example a fast food restaurant chain will not have a similar logo with an automobile chain of industry so it is paramount that whichever field your business belongs in, it should be differentiated with the competition based on your logo so that customers can easily recognize you and know who you actually are.
It is important that your logo does not contain similarities with the competition else your customer base might get confused between the two and some of your customers defect to the competition. A good logo built with an interesting design catches the eye of the customer like nothing else and helps kick start the successful campaign of any business.
Enables brand loyalty
A company that is going string years on end like Coca Cola or Nestle may try to change up their logo to add something or maybe remove a little detail but the customer may not always like this act as the customer has been used to the old methods and may not like change in this regard and feel a little betrayed. So it is important that you stay loyal to your brand and in turn your customers will stay loyal to your business and a recognizable logo can attract more customers as time goes by.
Your logo can be everywhere
Your logo can be placed anywhere around the world whether it be on packaging or your websites or your social media channels and even in the marketing campaigns, it can be everywhere that you want it to be so if you have developed your brand message and reflected it on your logo, that logo will help and attract new eyes towards your business and your sales will grow further and further.
Some Intriguing Statistics regarding Logos of different companies
- According to a study 78% of consumers believe that logos are works of art.
- Most businesses select visual branded logos because the human brain can process images 60,000X faster than words.
- More than 60% of companies in the fortune 500 employ a logo that uses a combination of designs.
- As far as text capitalization of companies in the fortune 500 are concerned, all caps leads the pack at 43%, followed by title case (33%), combination (12%), and all lowercase (7%).
- 57% of small businesses are willing to pay a sum around $500 for their company logo.
- 18% of small businesses will pay out a sum of up to $1,000 for their company logo while 14% are willing to spend even more than that amount.
- According to another study in 2020 78% of consumers believe that logos are works of art.
- 10 to 20 principle design already are in existence when it comes to designing a logo for any company.
- We can divide the types of logos and there are a total of 7 types of logo designs today. These are abstract, mascot, combination mark, emblem, letter mark, pictorial mark, and wordmark logo designs.
- The customer base of any business need around 5-7 impressions before they recognize a business logo.
- According to a study there are more than 300,000 freelance logo designers on Upwork, over 118,000 on Freelancer.com, and over 134,000 on Fiverr.
- 9% of brands recognizable around the glove did not include their business name in their logos.
- In the year 2021, top-ranked company logos are Apple (2839 votes), Nike (2418 votes), Coca-Cola (2275 votes), Mercedes-Benz (1658 votes), and Adidas (1507 votes).
- A study conducted suggests that over 90% of the global population recognize the iconic Coca-Cola logo.
- The most recognizable logos of the mega companies like Apple, Amazon, Google, Microsoft, and Samsung are the five most valuable brands in the world.
- The Universal Studio founded in the year 1917, it has changed logos a total of 12 times with the latest change being in the year 2012.
- The first version of the Apple logo came in 1976, which depicts the famous Isaac Newton reading a book beneath an apple tree.
- Established in the year 1924, the Metro-Goldwyn-Mayer (MGM) had used a total of six different lions in their film logos.
- FedEx’s logo design has racked up over 40 awards. The Rolling Stones magazine even ranked it as among the 8 best logos over the last 35 years.
- According to a publish of Forbes, a mega company in the United States earns the bulk of its revenue from licensing its logo, originally created in 1953. Their licensing revenue reached about $45 million in 2017.