A logo is a piece of design and structure that defines the personality and image of your business in your target market. Before you start operating in your target market, you need to create the wireframe of a brand identity. This brand wireframe with the business name, logo, tagline, and theme is what brings you brand recognition at a later stage.
The creation of a brand identity and its recognition pulls the audience closer as the audience identifies with it and connects. The use of a good logo and brand is what maintains the brand-customer relationship. When the brand-customer relationship is strong, your sales and revenue are automatically benefitted.
The impact of the logo on consumer mindset
The logo is the most distinct element of your brand that can leave a lasting impact on customer psychographic. If you want to estimate the impact of a business logo, keep in mind that the logo is the strongest element of brand identity, with its recognition at 75 percent. The logo and the theme colors of the brand leave a huge visual impact on the lead trying to make a purchase decision.
If your logo is highly recognized, you not only have visual marketing for your brand but also word-of-mouth marketing. This is because almost half of the customers are likely to talk about the brands they recognize by the logo. Often, the brands that have the most recognizable and iconic logos simply use the logo as a marketing statement and garner an audience.
A strong logo reflects the confidence of the brand it represents, and this confidence translates to sales. The translation of strong brand identity into sales is crucial because every business runs on revenue and profits. In this article, we will focus on the tangible elements of business and how a strong but simple logo affects them.
How does the logo drive revenue for businesses?
Here are the ways in which your business revenue can be positively impacted if you focus on creating a strong and interesting logo.
A great first impression
We know how important impressions are, and when they are first impressions, they have to be special. A good logo leaves a great first impression and stays indelibly in the mind of the customer. Why does the logo play an important role in creating the first impression of a brand? This is because the human mind can process visual elements 60000 times faster than textual elements. So, when a person looks at any marketing initiative of your company, he or she will first look at the logo and register it. The tagline and other brand elements also play a role in creating a solid first impression, but they support the logo.
If there is no logo, most people will think that the product is unbranded and generic. Customers will always prefer to go for branded products over unbranded products. A solid first impression creates a brand recall and pulls the customer further down the purchase journey. The more the person looks at the logo, the more likely he or she is to purchase your products. This process eventually leads to better sales over a longer period of time.
Building trust with the customer
When you are launching a new brand, you must be aware of how important it is to gain the trust of targeted leads and convert them to customers. In the previous section, we talked about how a missing logo can make you unbranded and generic. People trust generic, unbranded products less. Therefore, to create a trusted relationship with the customers, you need to create a meaningful and good logo.
The logo should be consistently used in packaging and marketing initiatives. Consistent use of logos cements trust and stabilizes your sales. When people go to buy any product, they choose a trusted brand. Therefore, highly trusted brands with recognized logos enjoy consistently higher sales. When the brand enjoys high trust, it also has good word-of-mouth marketing and a natural expansion of its customer base.
Tackles competitors to drive sales
The logo is a differentiator as it differentiates you from other companies in the same market niche. Every company gets its own logo and focuses on its originality. The originality of the logo provides your business with a base of authenticity. The brand authenticity and identity you create through the unique logo and tagline is what sets you apart as a pioneer in the market. When you choose a good logo, you are already set apart from unbranded businesses.
Moreover, a good logo can also gain recognition and place you higher than your competitors. However, to maintain the momentum gained by the logo in a competitive market, you have to back your brand with quality products and services. Once you are able to tackle your competitors through branding and quality, the sales organically increase, and there is more revenue.
An element of professionalism
A logo shows that you care about your brand perception and represent certain core values through your business. Branding done properly and supported by a strong, unique logo can send out the message of strong ethics and professionalism. When your logo stands for professionalism, people expect excellent products and services from you.
Because of this image, you get a lot of first-time sales and a positive impact on the customer base. The logo gives a distinct character to the business and engages the customer so that he can feel loyalty towards the business. The brand loyalty and familiarity that the customers feel towards your brand already cuts wins the marketing game by half the effort.
Conclusion
Focusing on the creation of the logo and investing in it can reap rewards in the future. While you can get a logo from free logo maker apps, it is best to hire a good logo design team and spend some money on the design process. Once you get a meaningful logo out of the process, you will recover the investment from the increase in sales induced by the logo. A strong, impactful logo is worth the investment.