Did you know that more than one million new businesses get their start every single month? While that number might be surprising, the rate at which startups fail is even more eye-opening. Approximately 30 percent of startups will fail within two years. About 50 percent of them will shut their doors for good in five years or less. Only 25 percent of new businesses will survive for 15 years or more.
There are many reasons businesses fail. Here are a few of them:
- They ran out of money
- They didn’t have a target market and failed to appeal to a wide, undefined consumer base
- They didn’t do their research
- They entered the business in a partnership, which turned sour over time
- They lacked the requisite expertise
While any one or a combination of several of the reasons just mentioned is enough for a business to fail, the list provided above is far from exhaustive. In fact, one major reason startups flop that isn’t included in that list is poor marketing.
When it comes to business branding, too few entrepreneurs have the experience that’s necessary to market their enterprises. If you’re not a marketing expert, your lack of experience can prevent your business from being as successful as it could be, even if it survives more than 15 years.
One aspect of marketing that a lot of business owners take for granted is their logo design. Even if you have an idea for a logo, it’s still advisable to hire a professional. Why is that the case? The simple answer is that two heads are better than one when you’re conceptualizing and designing. The more complex and accurate answer involves several things that involve logos in general.
Your Logo Makes Your First Impression
For people who are unfamiliar with your business, it’s likely that your logo will be what makes your first impression. When you think about all the places your logo will appear – your website, letterhead, business cards, work vehicles, and uniforms, to name a few – it’s easy to understand why and how your logo will give people their first impression of your organization.
Your logo represents your business in every way. This means your logo design must convey several things about your business, such as your mission, values and the quality of your goods and services. By using a talented professional to create your logo, you can make sure your logo represents your business appropriately and that it makes a lasting, positive impression on consumers.
Professional Logo Design Is Based on Research
Even if you have some ideas for your business branding, they’re just that – your ideas. For your logo, it’s vital for your design to be based on solid research. A professional designer will research your target market as well as your competition. The designer will research your company and your industry as well. Your designer will then create a logo design that will resonate with your target audience and represent your brand in the best light possible.
A well-researched, expertly executed logo design will last longer because it’s founded on comprehensive research. A logo that’s based on research won’t have to be changed significantly every few years, which will save you money over the long-term. While you may have to update your logo as time passes or when you want to attract a different audience, you won’t have to do so because your original design wasn’t relevant or representative of your brand.
A Professional Logo Sets Your Business Up as an Authority
Even though you’ve probably been advised to avoid judging a book by its cover, you, like many other people, probably do at least on occasion. Your logo design is the “cover” that people will use to judge the “book” that is your business. If your logo is amateurish or unprofessional, consumers will lack confidence in your organization and the things you sell.
If your logo design is clean, powerful and professional, it can establish your organization as an authority in your field. If you doubt that, think about Apple’s logo or even McDonald’s logo. You want your own logo design to be as strong and memorable as those unforgettable logos so people will consider your business an expert in your industry.
It Helps Companies Avoid Litigation
If you attempt to design your own logo, it’s your responsibility to ensure your work is truly original and unlike any other logo. When you hire a professional designer, that person will assume the responsibility for creating a unique logo for your organization.
It’s very important for your logo to be original. If your logo is based on someone else’s or it resembles another logo too closely, you might end up getting sued for trademark infringement. You can avoid this threat altogether by hiring a professional to create your logo design.
A Professional Logo Design Will Help to Shape Your Brand
As we mentioned earlier, your logo is probably what’s going to give people their first impression of your business. It’s also a vehicle that communicates some key information about your organization, such as your values. With these things in mind, it’s easy to understand how instrumental a professionally designed logo is to your brand from the moment you open your physical or virtual doors to the public for the first time.
A Specially Made Logo Will Instill Trust
When your brand has a specially made logo designed by a talented professional, your logo will automatically instill trust in your business and the goods or services you sell. What happens when people trust your business and your products or services? More sales, increased traffic and stronger connections with the members of your target audience are just a few of the positive things that can result.
Business Branding and Logo Design by Chicago Digital
At Chicago Digital, our talented professionals will be able to create a professional and unique logo for your business. We can also put together a complete business branding package to bring your business even more success. Contact us to see what we can do for you!