Can your logo impact your sales?
When starting a business, your target audience needs face that they can associate with your products/services. This ‘face’, known as a logo design will be seen by all of your customers, and possibly the whole world. As a result, your logo design needs to be crafter with great thought and professionalism.
Are you a business owner wondering if a logo design actually has an impact on your business?
Look no further. You will discover how and why your businesses logo design can impact your sales revenue. As well as understanding how the ‘sales funnels’ is in cohesion with your brands’ design.
What is the purpose of a logo design?
Every successful company has a logo design. However, not just any logo design, but a ‘good’ logo design that works. (Find out more on what makes a good logo design)
Mentioned early, a logo design is used by businesses to be recognised by their target audience. A logo design should also align with the companies core values, as well as the quality of their products and services. Your logo design has several responsibilities and the first one is communicating your brands’ message with your audience.
Attracting your target audience
Not only does a logo need to look good an aesthetically pleasing, it also needs to be crafted in a particular way that is apealing and suitable for your target audience.
Wether it is products or services that you sell, there will always be competition when getting the attention of consumers. The same way your business needs to be unique, is the same way your logo does too.
If a consumer is seeing your product for the first time, they will solely judge the product/ service based on its aesthetic such as logo design and/or packaging design. This will be the make or break moment when it comes to a consumer purchasing your product being the last point of sales.
You will be able to understand this through a thorough explanation. This point may be understood when you understand the value of logo design, and take ‘The Logo Test’ in-order to enter the mind of your customers.
Sales funnel and & How it works
The most import concept to understand when running any kind of business is the sales funnel. Regardless on the type/ size of the business, a sales funnel is important. Here are the stages of the sales funnel:
Awareness & Interests (Marketing)
Leads
Prospects
Customers
The sales funnel process all begins with your marketing efforts. Awareness, interest and desire needs to be built up through out this stage. As humans, we typically desire things that look good/ aesthetically pleasing. Can you guess a successful way that this can be achieved?
Yes, it is through design.
When purchasing a product or service, consumers often go for quality, assurance and luxury as they are spending their hard earned money. What better way to emphasise the value of your products/services through your logo design, brand identity and packaging design.
The top leading businesses often carry this out successfully . Apple is the number one example of simple and clean design which promotes the value of their brand, making their products more desirable.
Now when carrying out your marketing, excluding your product, your logo design is one of the first things consumers will come across when considering to purchase your product. Your logo design needs to be compelling enough to stand out from the noise and catch the attention of your audience. A good logo design will aid you when attracting more consumers, as it will also increase your pool of potential customers.
The impact on your business
Conducting business successfuly is a numbers game. The more of your target audience you are exposed to, the more sales you will make.
Imagine placing a number into a machine, which outputs a final number less than the input. Within each stage of the sales funnel, the number will decrease by the time you have an output.
However, if the initial input is fairly small, the final output result may be zero.
As mentioned, every business has a sales funnel. This concept explains how consumers engage with your business.
If the initial number is… let’s say 100, imagine this number is divided by 2 at each stage of the funnel. The result will be approximately 12.5 prospects to purchase your product.
However, the output number could possibly be greater if more of your target audience have acknowledge your product or service.
Hypothetically, the more people attracted to your logo or other design elements, the more leads and sales you could potentially gain when marketing. Plain and simple.
In a nutshell, the more your individuals are engaged with your logo, the more individuals will be converted into customers, hence increasing your revenue. This is shown through the concept of the sales funnel. However, a good logo doesn’t guarantee more consumers as there are certainly other areas your business may need to pay attention to.
On the other-hand, a well crafted logo design does create more opportunities as it is typically the first impression when it comes to consumers and other stake holders. Stake holders are the ones that will increase your businesses revenue, so they need to feel confident in where they are putting their money.
Take the top leading businesses in the world for example, Amazon, Apple, McDonalds, Facebook, Samsung etc, all have logo designs that we don’t think twice about when purchasing from them. Yes this is done through their branding over the years, but their logo designs are crafted with so much expertise that they can continue to attract the right audience, and grow their revenue.