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.
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
You need to sign up for Treehouse in order to download course files.Sign up