Is your Logo Design Recession proof?
The current recession is causing a definite shift in consumer behaviour. Throughout the boom of the last few years, we have seen very small business adequately competing with the bigger brands. And many of them have been amazing success stories, particularly online. Then consumers were used to choice and less demanding of reliability in their brands, they wanted the cheapest items and they wanted them now. But now that more and more businesses are going belly up, and consumer confidence is falling as a result. What does this mean? well it means that all of those bargain hunters are returning to the big brands that they recognise, even if that means spending more money, because they don’t want to take the risk.
Although in times such as these when people are worried for their jobs or loosing them, some start to consider their dream business online and of being their own boss. With around 98,000 new business being created every three months, the competition isn’t getting any smaller. Yet it’s a tough road to go down. When you take into account that around 80,000 new businesses failed during the same time period, kind of puts it into perspective doesn’t it!
For me, without a doubt many startups fail because they underestimate the importance of branding. Your logo and identity is the first impression customers have of you. It’s crucial to what people use to judge whether you are trustworthy or not. But it’s so often the case that startup owners put off paying professional logo design in the initial stages. They think “wait till I get a few more customers, then I can afford it”. In the meantime they try and do it themselves, or get an amateur “designer” friend to design a logo. Many new companies unfortunately opt for cheap Vista Print Logos or free clip art to design their brand.
Brands shouldn’t underestimate the importance of their image. You need to look like a professional organisation that’s in it for the long haul.In the middle of a recession, most consumers are nervous about who to trust, so a brand needs to demonstrate that they are trustworthy and dependable. You also want to avoid looking like a very small business, even if you are one. As I’ve touched on above, people nowadays are more and more attracted to bigger brands and bigger companies. Ultimately, a brand that consumers thinks of as credible and dependable will be the brands that they will recommend to family and friends and so on.
The fact of he matter is. Around half of all new businesses go bankrupt in the first few years. Badly planned marketing strategies are thought to be the main cause of most websites decline. A custom logo design helps you create the right image for this marketing to succeed. So do yourself a favour – start looking at some sample logos in your industry and see what the successful ones have in common.Finding yourself a talented graphic designer is key to your business, not only surviving but thriving in this current climate.
