A logo is crucial for a company as it signifies identity and authority within the business world and helps build impression among competitors. It is a vital part of an organization’s business tool and gives people an idea about their identity. Designing a powerful logo in important for success as small and medium enterprises have to withstand strong competition to be successful and retain their clientele as they cannot afford promotional expenditure of large organizations.
How to choose the right logo for your SME business?
If you do not have a clear idea about the image you want to project about your organization and how it is going to progress from a startup today to a well established firm within a specific time frame then it will be difficult to get an appropriate logo. As a startup you can plan a definite progress path for your organization and make small but subtle changes in the logo which will show company’s growth until it is established. Steps to select an appropriate logo for your organization:
- If your business has a small name then prepare a logo with the name until its reputation firmly gets entrenched into people’s minds.
- Long complicated names can be abbreviated into the logo if possible or you can fit in a sign in specific colors to depict the image you want to project about the company.
- If there something compelling about your business that makes it unique among competitors and appeals to a niche audience then make depict it in a symbolic manner within your logo.
Why Logo design is imp for SMEs?
Entrepreneurs want their company logos to be iconic and instantly recognizable like the solid initials of engineering firm Siemens, swishing angle of Nike or the upturned curve of Coca Cola. Every firm is recognized by its logo which reflects its goals and values in the eye of general public. Since the logo is a form of representation for an organization it is called its face.
- Establishing Identity – The logo of every startup company is its brand identity and appears on every correspondence with outside world like business cards, company letter head, signage, website, and also its seal. A company’s name is recognized by its logo and cannot be changed frequently as it would damage reputation. Ideally a company’s logo should depict its name and also its business to some extent to make it memorable like the Starbucks Coffee, Harley Davidson motorcycles, Nestle and Microsoft. The colors and graphical designs that are part of a company’s logo have to remain consistent with its identity and long term goals. A company can use its name as a logo like Disney, Google, Coca Cola, Intel and few others which is written in artistic format to represent brand identity and leadership status in its category.
- Logo attracts people and is a crucial part of its brand building exercise – The logo design is critical to attracting customers to the brand. This will help in making a company’s brand grow from a national to international brand so its profits grow and it gains a bigger share of the market. If your company is concentrating on a niche market segment then a strong logo and slogan line is important to emphasize its exclusivity and reputation in the market and quickly establish itself as a strong brand in the market. A logo will install a sense of exclusivity about your brand as it will attract, educate and retain customers for you that will not move to another competitor if the quality of your product and service is retained.
- Establishing brand signature – The logo of a new or well established firm works as its personal signature and protects its reputation from every kind of fraud and forgery. If your company’s brand is well established in the market and among customers then it will reduce confusion among customers so that they do not confuse it with competitor’s products. To make a company logo synonymous with its brand image it has to be unique and simple yet emotionally powerful to make it memorable within minds of its customers and markets.
Advantages of a well designed logo for SME
Today’s business world is extremely competitive and it does not take long for business ideas to get duplicated and become successful as the first one that created a particular segment. If you have a cleverly designed logo that easily connects with customers then establishing a stable reputation in the market will be an effortless task. Logos are a form of free publicity for an SME as they have limited advertising budgets and logos on signage, company website and its social media pages will educate people.
Starting a business and establishing a reputation in a competitive market is difficult and logo goes a large way in this direction along with the company’s other publicity endeavors to increase its bandwidth in customer’s minds.