Questions

How should I price my logo design service?

I have a small logo design business targeted at small and medium sized businesses. The price I give depends on the clients budget, and varies from $800 to $8000. Should I make price packages to show on the website, or just give individual prices after they contact me. My concern is that some potential won't contact me if there is no prices.

4answers

I'd recommend that you build out a range of packages with different deliverables for clients. Price them based on what you want to make per hour times the amount of time it will take you to create each deliverable (don't forget to build in time you'll spend meeting or communicating with the client). You may want to consider "theming" each package so it helps guide a client to selct the package that would be best for them. Also consider varying the packages both on the end result, as well as the process to get there. For instance, you will want to set the number of rounds of redesigns, as well as the number of options / logos they will get to see at each stage. By clearly showing what a client gets out of the process, this will also help you compete against the companies that are commoditizing logo design like CrowdSPRING.


Answered 4 years ago

There is a trade-off attached with either approach that you need to understand. If you feel not reflecting a price eats some of the leads then reflecting the same could create the same ripple effect. I believe logo designing cost, as a service, is something which should be customized per specific requirement. People may say that a logo is just a logo and what's there to customize? But, people like you and me knows that it isn't that plain vanilla product.

I would suggest that rather than trying to package your services per price point, you should try to communicate the values that one could expect working with you. It's all a game of making perceived value look bigger than cost. You do that and you won't lose any serious lead. Just make sure not to make false promises in you bid to increase the value.

Another option could be to highlight one or two packages, keeping the third one directly proportional to customization etc.

I hope above could be of some help!! Need any specific input? Feel free to reach out with more clarity.


Answered 4 years ago

Your pricing should reflect the value your service provides and the delivery commitments you have made as well as cover your costs of delivery with a respectful margin for profit, not the client's budget.

If you are not sure how to calculate what you should charge, you can learn how in this guide: SMARTSTART Pricing. You can get a copy at no charge here: http://smartstartcoach.com/smartstart-pricing/

There is also a section in the guide that helps you learn how to communicate your pricing to clients with confidence even when engaged in those tricky conversations.

Hope this helps!

Linda M. Lopeke


Answered 4 years ago

As a business development expert that works with ad agencies and design firms. What I teach my clients is to communicate the longer term value of their services.

Good design firms charge a premium for a logo design -- much more than the sum of an hourly rate multiplied by time. There are two good reasons for that:

1. A logo is the cornerstone of a brand's identity and therefore a prized asset. If it's designed well, it will endure and continue to add value to the company it belongs to for decades. This potential long term value has to be taken into consideration.

2. A logo is not a solo act. It's part of a much bigger brand ecosystem. The value extends beyond the mark to all the other elements that should accompany it -- colors, fonts, placement, behaviors, etc.

Of course, this all needs to be considered in the context of your business. E.g., how much value you bring to the client in terms of your experience.


Answered 4 years ago

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