Know These Logo Statistics and Facts to Grow Your Business

We cannot emphasize enough how important it is to build a solid logo whether you have a small business or an existing empire. If it isn’t critical for the company, then why do you think big names spent a lot on their logos and for a redesign? If you are still convinced, then learning these logo statistics could change your mind. Let’s evaluate how much weight a good logo can contribute to your overall business. 

Brand Recognition   

Did you know that 90% of the population can recognize the iconic Coca-Cola logo? Apart from being a huge and long-standing brand, they were able to use the classic red color and the Spencerian script to their advantage. Even if they tweak their logos over the years, they maintained their signature design elements, making it easier for people to identify the brand.  

What does this mean for your logo? 

There’s nothing wrong with redesigning your logo, most especially if you want to make it relevant and timely. But as much as possible, keep your prominent design elements. Otherwise, the market might be confused. 

Cost of Logos  

Most people undervalue the work needed to create a compelling logo. Sure, you can get affordable ones online. But the question is, will it represent your brand’s vision and mission? 

This is precisely the reason why you need to hire a professional graphic designer. They don’t just create logos based on visual appeal. There is science behind every stroke and color. 

To date, only 14% of small businesses are willing to spend more than $1000 for their company logo. That’s not entirely bad news. However, this shows the need for more business owners to understand that logo is an investment. 

But let’s make it clear. Paying a huge fee isn’t a guarantee that you will have a good business logo. It still depends on the skills of your designer and how clearly you provided the instructions. Take note that some of the biggest brands like Google and Nike started with cheap and even free logos. So you cannot base the effectiveness of your logo on its cost. 

Graphic Designers for Logos

Since there are more than 500,000 freelance graphic designers online, the prices of logos can be extremely low. This is due to the high competition. Yet again, among the 500,000 designers, only a few can deliver superior output. 

To be honest, looking for the perfect one can be tedious and time-consuming. We would encourage you to work with on-demand graphic design services as they have already selected the best graphic designers for your logo. Take a look at Penji’s business model, where you only pay a fixed fee every month for unlimited graphic design requests. This includes your logo. 

Colors in Your Logo 

At first, you might get too excited to design your logo. You would probably ask your designers to go all out and crazy in terms of colors. But remember that the most effective logos only contain one or two colors. This can be seen from 76% of the leading brands. Looking at the data, they clearly have something in common. And as a startup and medium-sized business, it wouldn’t hurt if you follow their lead. 

In addition, the choice of color is important too. Let’s use Starbucks as an example. They use green to symbolize mother earth and universal love. Lo and beyond, it has become a universal drink. This is where color psychology takes place. 

Now, you might want to use gradient, but the fact is, only 34 companies in the Fortune 500 use the style. It might be too risky to follow that path. 

Symmetrical vs Asymmetrical Designs 

According to studies, people perceive asymmetrical logos as an exciting brand. You can see that transition when Burger King changed their logo. If you are about to build one, you might want to stay away from the plain font view and tilt your text, if possible.  

Using Hidden Messages on Logos 

Many logos have hidden messages. This includes Baskin Robbins, FedEx, and Tostitos. There are two major reasons for doing it. One, this sends a subliminal message to your audience. Another is that it pays tribute to your company’s legacy. Either way, people love solving hidden messages. 

Animated Logo Designs are on the Rise 

Since many people have their own gadgets, animating a brand’s logo seems to be the trend. Just take for example, Google and Netflix. But this takes a different level of expertise. Too much animation can also be a distraction, so you have to use this technique with caution.

Just a quick trivia. This isn’t a new style. Remember MGM Studios’ classic lion? Yet again, it is only recently that companies took the approach.  

When to Rebrand Your Logo 

We’ve already mentioned the possibility of rebranding. But take note that you shouldn’t change your logo just because you feel like it. There should be a strong reason why you would alter the design elements. You need to make sure that corresponding marketing will take place to reintroduce your logo to the market. Here are a few reasons why you might need to rebrand your logo. 

• There’s a change in leadership
• Business expansion or mergers  
• Outdated logo design 
• Recovery from a controversy

You have to be careful when you are about to redesign your logo. According to logo statistics, those who are highly committed to your brand will take the change negatively compared to those who are not highly engaged. This means you have to watch out for your loyal pool of customers when you plan to change your logo. 

Cost of a Poor Logo Design on Your Business 

In case you are still not convinced about the role of logos in your business, this data might change your perspective. 

Companies with poor logo design and mediocre branding spend 10% more on salaries. 

Isn’t that counterproductive and impractical? 

Conclusion

Learning these logo statistics could help you brainstorm a design that will work best for your company. We also want to enlighten you on how important it is to choose the right graphic designer. If you are to start your logo design project, go back to knowing more about logo statistics and use it as a reference.