Think of the golden arches from McDonald’s or the swoosh from Nike.
When people see these famous logos, most are able to instantly form associations with the brand. The first with fast food and the second with athletic wear.
If you were driving down the highway and saw the golden arches, you might pull over for a quick bite to eat. Or seeing a professional athlete with the swoosh logo on their uniforms might make you more willing to purchase from that brand.
Either way, this kind of recognition is incredibly powerful.
And it’s the reason why companies are willing to spend millions of dollars just on their logos alone. For example, Pepsi paid $1 million for a new logo while BP spent an astounding $211 million.
These figures sound shocking at first glance. But this kind of investment is not all that surprising as logos are essentially a reflection of a company’s brand identity.
Originally published at thenextscoop.com.