Your Logo! Your Brand! Your Identity.

Pic credit: The logo Company

Since time in memorial, Companies have been known to make significant investment when it comes to designing their corporate logos. As consumers, we all know why this is so. A bad Logo can completely mar a brand.

According to MIT Sloan Review,recent research has  proven that effective corporate logos can have a significant positive effect on customer's commitment to a brand, and even on a company's performance. 

Considering the fact that we are in the age of Social media, the importance of logo or rather the appeal of a company's logo can not be over emphasized.

When you think about legendary brands like Coca-Cola, PZ Cussons, First Bank Of Nigeria, Nigerian Breweries, Indomie and so many others, one thing that first comes to mind is the image the brands have over the years projected through their logos that have stuck in our hearts for years.

The success of any logo is determined by 3 major things which are:

1. Colour
2. Cost
3. Audience

The implication of colours effect on people's emotion are far reaching, and when you identify and  understand your customer's connections to certain colours, this could increase the effectiveness of your company's branding method. Certain colours have been proven to be more appealing for certain kind of brands, so this should be put into consideration when developing a logo for your company.

Another important factor that plays a big roll when considering and making decisions on creating a company logo is the cost. Well Known companies like Nike paid only $35 to  an art student for the design of the famous Nike Logo, while  in 2012, The London Olympics paid $665,000  to a collection of artist for the London Olympics Logo that was used for only 3 months. 

The Market Audience are the most important people for any company, because they are the final consumers of these products and services , so it is not sufficient for companies to attract consumers with price promotions only, it is very important that companies pay special emphasis on brand designs and awareness and strive to promote strong effective association with their brand among their customers to develop and maintain a competitive advantage.