These are the rules of “survival” of brands in the modern market to achieve competitive differences and ensure their recognition. They are relevant not only for big brands, but also for small companies. Therefore, branding issues are now being addressed in the planning stage of the business. It usually starts with designing a logo.
What methods do entrepreneurs use, how much money do they invest, and what results do they get? The answers are in the study carried out by Log aster Company representatives interviewed 1,200 respondents, including entrepreneurs and startups from Ukraine and the CIS countries, Western Europe, Canada, the United States and Brazil. The study authors were interested in knowing what methods business representatives use to develop their brand and how much time and money they are willing to spend.
How Small Businesses Create Their Logos: Log aster Research The majority of respondents) answered that they are willing to pay logo developers no more than $ 100. Another of respondents expressed a desire to obtain a brand symbol for free. 19.2% of entrepreneurs foresee a Russia Phone Number List budget of between 100 and 500 dollars. 6.4% of small businesses expressed their willingness to more than The conclusion is obvious: only a quarter of the total number of entrepreneurs and startups can afford to order a logo from a specialized agency or independent designer.
The rest have the following options available: independent development or the use of specialized online tools 38.2% of those surveyed put the quality of the logo first: for them this feature is key. 33.6% of entrepreneurs preferred the “golden mean”: they need a brand symbol with an appropriate price and adequate quality. And only 12.5% of those surveyed admitted that affordability is a priority factor.
Time spent on development
44.6% of entrepreneurs are willing to wait up to a week to have the logo finished. In his opinion, this time is sufficient to develop several drafts and then to perfect the final version chosen. 25% of respondents are willing to wait up to 30 days. By the way, this is an acceptable period for logo development in collaboration with a designer or agency. At the same time, 17.8% of small businesses want to receive a corporate symbol in 1-2 days and 7.9% do not allocate more than 24 hours for this process. This is also possible by developing the logo yourself or using an online generator.
Time spent on development Development Terms
The majority of respondents (78.6%) started developing a logo even before starting their business. 16% of entrepreneurs dealt with this issue after 2-3 months of their activity. 5.3% worked for a year before starting to create a brand identity. Development Terms 36.7% of respondents prefer to design a logo using an online generator. 23.7% of those surveyed confirmed their willingness to develop their corporate identity on their own. 20.4% of entrepreneurs prefer the services of professional designers. The remaining 19.2% of respondents said they are willing to request a logo from a professional studio.
How important is a logo for small businesses
88.6%, that is, the vast majority of those surveyed, confirmed that the logo is important for promoting the brand. 11.4% of those surveyed believed that branding does not help in any way to promote the company. How important is a logo for small businesses Creating an original logo is the first step when working on brand identity. Therefore, it is worth addressing this problem even before the start of the business. You don’t need to have a big budget to develop a high-quality brand – the modern market offers ways that match the business goals, needs and capabilities of all interested entrepreneurs.