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Brand Identity Basics

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What is the Value?

1:58 with Matt Yow

How much should we charge for a brand identity system? Value is subjective and actual dollar amounts are very objective. So let's go over what we'll need to consider when determining the value of our work.

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    What is the value? 0:00
    Red Antler, a brand design studio says, brand early, not often 0:02
    as a means of establishing value while also considering the when. 0:06
    But value is subjective and actual dollar amounts are very objective. 0:10
    So, how much should you charge for a brand identity system? 0:15
    That's something you need to consider based 0:19
    on your comfort level, client's budget and timeline. 0:20
    [SOUND] Here are a few examples of price tags. 0:24
    In 2008, Landor Associates developed a new brand identity 0:26
    system and naming system for BP for over $200 million. 0:30
    Also in 2008, Arnell Group designed the new Pepsi logo for $1 million. 0:34
    [SOUND] In 1971, Carolyn Davidson created a swoosh logo for Phil Knight for $35. 0:40
    Phil Knight still uses that logo for Nike. 0:46
    Miss Davidson has been compensated further in more recent years however. 0:49
    [SOUND] Finally, Coca-Cola is a good example of 0:53
    a big brand with a unique price tag. 0:56
    Coca-Cola uses a logo that is derived from an old lettering used in the late 1800s. 0:58
    They've used the same logo ever since and they paid nothing for it. 1:03
    Of course, it's been slightly modified and renovated over the years, but 1:07
    the fact is, it's been the same logo for over 125 years. 1:10
    So no matter your project, find the happy medium between you and your client. 1:15
    Is it $500 or $500,000? 1:19
    Don't undersell yourself. 1:22
    It's much easier to spend time on a valuable project and get paid more for it 1:24
    than to be run over by juggling multiple 1:28
    small projects that all barely pay the bills. 1:30
    Potential clients won't begin to pay you more and more overnight. 1:33
    It will take time, but let yourself be 1:36
    vulnerable to putting higher price tags on your time. 1:39
    You'll notice your clientele will begin to expect to pay more and 1:42
    treat you with more respect as 1:44
    a professional designer rather than stepping stone. 1:46
    For more on the business of design, I 1:49
    highly recommend Design is a Job by Mike Monteiro. 1:51
    It's a short book full of experiences and knowledge to learn from. 1:54

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