Australian Business Coaching Club Newsletter – Betting on Your Logo

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Betting on Your Logo

When an owner starts a business one of the first things they do is get someone to design a logo for them. They may pay $100 to a graphic designer, or they may invest in “Branding” and spend thousands. What’s the difference?

Have a look at one of the most well know brands – Nike. The famous swoosh logo. Surely they must have paid a fortune for that. (I will reveal below how much they paid.) You will have seen billboards were the only thing on it was the “swoosh” and you knew it was Nike.

The mistake people make is believing “if I just have a good logo, my sales will increase”. The truth is that it is not how much you invest in your logo that matters, it is what you do with it. The Nike strategy is one of Top of Mind, using advertising and sponsorship, so when you go into a sports store for footwear, you are confident that their product will meet your needs in comfort and style and support, even if they are more expensive.

Other less well known brands don’t give you the same level of confidence that they will meet your needs, and therefore must compete on price.
This is not about your logo. It is about brand awareness and consistency of your marketing messages building the confidence that your products and services will deliver what you promise.

The Nike logo was developed by a graphic design student for $35 in 1971. (The company's co-founder later repaid her in 1982 with a gold Swoosh ring and an unknown amount of Nike stock.)

So don’t get hung up on your logo. Yes it needs to look professional and provide some graphic connection to what you do. The greater investment of your time should be in what you intend to do with it.

All you need to do now is to Empower yourself and take action ...

Have a great month.

Dr Greg Chapman - The Business Brain Surgeon
The Australian Business Coaching Club