Importance of Logo Design
One of the first thing entrepreneurs do once forming a company is to put together a company logo. A company logo is part of the brand identity and often sets the tone on how your customers, competitors and other partners will perceive your brand. But it’s not just about perception – it’s also about getting people to remember your company. Having an effective logo is one of the most important steps towards having an impact in the marketplace. As part of Babson’s Global Entrepreneurship Week, Dr. Caroline Daniels and Lea Tran ’18 hosted an introduction workshop on logo design.
Tran shared the following tips for entrepreneurs that are looking to create a logo as part of their brand identity:
- What are the logos of your competitors? Avoid having a logo that is similar to your competitor. You want to stand out and not get people confused when they are looking at your logo vs. your competitors. One thing to do is look at the colors of your competitor’s logos as well – is there a common theme? Oftentimes customers make an association to a particular industry if common colors are used. As an entrepreneur, it is up to you to decide whether you want to follow the “industry standard” or challenge it. There is also a chance of IP infringement, so make sure your designer has an original logo for you.
- What are logos of well-known brands? Like the logos of your competitors, in order to stand out, Tran recommends having a logo that does not resemble well-known brands.
- What are common symbols used in your industry? Combining certain shapes and colors may have religious, political or symbolic meaning. Try to make your logo different so it does not make a particular association.
- What are some generic logos that are used? Do an online search on your industry, and see what images pop up – there are likely generic logos that are used in your industry. Try to avoid using the same as everyone else, consumers are likely not going to notice yours.
To summarize the session, Tran shared three general takeaways: ask yourself if your logo is designed effectively, what message do the elements of your logo convey, and is your logo similar to others. One small image can make a difference on whether a customer, supplier or partner wants to interact with your venture.