Why Companies Spend Millions to Design Their Logos?
It shows that they take their brands seriously. Perhaps way too seriously
Large corporations have been known to pay insanely huge sum of money to brand professionals to develop their company logos.
For example, British Petroleum has been reported to have paid a whopping $211 million to design their green sunflower logo – notably the most expensive logo ever been paid in the history of corporate America. This is followed by Accenture, spending a total of $100 million to change their logo. Posten Norge spent close to $55 million in a massive rebranding campaign in 2008. Several other companies like BBC, Pepsi and ANZ were reported to have spent millions to design their logo.
And why would they do that?
Large corporations value their brands highly and their logos are the very first image that customers see and identify with. As such, having a poorly design logo may give customers a poor impression of their companies and that’s a definite no-no. But small businesses need not spend millions to hire designers to design their logo. With Logobox, we offer logo design at a fraction of the cost that large corporations paid for their logos.