November 21, 2022

How to Price Logo Design Reasonably

What's a good price to charge your client? How should you count the cost?
Check these logo design tips that you should know to set the price properly.

As a logo designer, you may be facing a challenging moment to determine how to set a price for a logo design service. Well, you don't have to worry too much. We have prepared some logo design tips, especially on pricing your logo artwork at a reasonable pricing rate. In my opinion, to some extent, the pricing has to dictate the amount of work you put into and the recent feedback you receive from your clients.

All types of design work can be highly lucrative, but it will always involve a certain level of measurements when it comes to the price tag. In some parts, this is because your work is an art form and that the creative process is might be quite difficult to be defined into working hours and price rates.

Knowing how important it is, let's look at some of the primary considerations that will help us puzzle out how a designer put value of their logo works in the current economy.

These are the logo design tips to consider when pricing your logo design service:
1. Your Level of Expertise
2. The Client
3. Your Best Turnaround Time
4. Project Specification
5. Project Value & Demand

1. Your Level of Expertise

You must determine the level of your talent's extent relative to the talent that exists out there and adjust your expectations accordingly. This requires some honesty and the ability to self-check, although it's pretty simple to evaluate. For example, if you're a new logo designer from college, your logo design should probably cost less than someone with 10 years of experience working as a senior designer.

2. The Client

You need to consider the size and value of your client's job, which is very crucial. Let's say it's a project by a giant company, don't you think it's a rare opportunity to raise your price rates. Because money isn't going to be all that important from their point of view, they're main concern about the project's privacy and security, and if you approach them with a low-ball quote, they might doubt your ability.

Otherwise, if it's the brand-new start-up logo of a close friend, you'd consider the personal relationship and financial means of a new, unstable business to be good enough to lower your prices a little. However, in either client situation, do not underestimate your work as a designer. The creation of a brand identity is always a precious asset for any business.

3. Your Best Turnaround Time

Next, turnaround time is of the utmost importance. If you can make a 48-hour turnaround, it could be of great value to a company, so it should affect your price accordingly. On the contrary, don't give up your work's quality for a faster turnaround; just stick to your process. Give a little more research and value to your project. With good analysis and reasoning of why your logo is purposely designed to be your way, you can increase your logo work's price and value.

4. Project Specification

The project specifications are a considerable detail that plays a significant role in the design of the logo. For example, if you offer four rounds of revisions, you have to consider reasonable price rates. Otherwise, if you were giving them three different design options, that's equally important to consider as well. Basically, you have to ensure that the amount you charge for the logo is relative to the scope of the work you are involved.

5. Project Value & Demand

Finally, you have to think about your work's value and the amount you are compensated for because it's a balancing act. For example, sometimes the supply of work you get isn't going to let you price yourself where your actual value is. Otherwise, if you're incredibly busy scheduling your logo design work months in advance, then you're most likely to increase how much you charge.

2 Basic Ways to Put Pricing to a Logo Design

Above explanation has tell you severals elements that you should consider to when pricing your logo. Next, I'm going to explain more about logo design tips on the simplest ways to put reasonable pricing for your logo artwork. These are totally 2 different ways of how you can set a price, take a look:

a. Value-based pricing of your logo design

One way to sort out the value for a logo design is to determine the purpose, objective, or even the final effect of the logo to the client.

This pricing method can be easily justified based on your customer's size and status, called value-based pricing.

Logo design is never a short-term design material that is changing or never is used again. It's more likely to be placed on shirts, letterheads, business cards, banners, flyers, and much more. Doesn't matter the company's size, they receive a design representing them for years to come, and so my point is don't sell yourself short when giving the first quotation of your service.

b. Hourly based pricing as a logo designer

This is tricky because you dictate your own hours, and obviously, you can't add 12 imaginary hours with an hourly rate pricing without your client feeling upset. Hourly-based pricing is not always the most ideal pricing structure for logo design, so always keep in mind that if you went with this option, you are not undervaluing the time it actually takes to create a logo design.

Let's assume your hourly rate is $30 for this example. Multiplying that by your total hours of research, brainstorm, production, revisions, and so on, we get a price range of how much you should charge for the logo project.

Conclusion

As you can see, there is no one way to decide how you should set a price for logo design. Although these logo design tips sounds like a great guide to set a price, but you've got to trust the process because it's always just a process. It is most unlikely that you will instantly arrive at your best rates. You still have to regularly test your price. Try to charge the client at a certain amount. If it doesn't work for either you or your client, you always need to adjust your rates.

And remember this, if they're too eager to accept your price, you're probably giving them too low. Otherwise, if you feel like you're not charging enough—you're probably not. Always listen to yourself and analyze your clients' reactions.

Logo design is an absolutely important part of any company's branding. It is the main face and the primary ambassador of a company. Most designers' common mistake is that they forgot how valuable their artwork is and how much time and effort they had put into it. Even if it feels fun, you always have to count your every step and effort.

Another important thing to avoid is to compare yourself to other designers or even the pricing rates. If a client prefers to get their logo designed at cheaper rates, they’re probably not knowing and understanding the value of design. The bottom line, always do your best and be proud of your work and make the best offering, then you’ll figure out the best rates to charge for your work and how you should price for a logo design. I hope these logo design tips can help you along the way in your career. Good luck to you & please leave some comments below. Cheers!