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What’s in a logo?

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Logos can be one of the most effective tools for marketing and branding any business, from restaurants to retail shops. They are visually representations of a company, its image and its philosophy. And they make both the first and often most lasting impression on consumers.

But they can be costly.

Professional designers can charge anywhere from a 25 dollars to tens of thousands — and more — depending on the complexity of the logo and breadth of the project. On average, it costs between $5,000 to $10,000 for a professionally designed logo, experts say.

But cost is worth it if the logo helps promote your business and boosts sales, experts say.

“Companies can always survive without a logo,” said Bill Haig, author of The Power of Logos: How to Create Effective Company Logos, “But logos are the extra edge that a company can employ to be successful. And sometimes it’s a big edge.”

Know your product and customer: You need to clearly articulate what your company does and who your business targets are to come up with a logo that will be an effective marketing tool, experts say.

Be prepared: What do you want people to know about your company from your logo? How will the logo be used? Will it be full color or black-and-white? Go for credibility: Logos should say exactly what kind of business you’re running — and that message should be clear.

Fill story: A good logo can speak volumes

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