Last week, 48hourslogo crossed another milestone – Over 3 million logos submitted by our online logo designers since we launched the website 5 years ago. With about 40,000 contests completed so far, that average to about 75 logos submitted per contest.
Average # of logos per contest : 75
There are 2 options to create a company logo contest at 48hourslogo. Client can launch the contest with guaranteed prize or list the contest first for $29 and pay the prize after receiving logo concepts. We found out that 31% of the contests were listed with $29 first and they received an average of 56 submissions. Rest of the contests were started with guaranteed prize and received 84 logo submissions on average. Overall, that’s about 50% more submissions for guaranteed contests.
Average contest prize: $146
Our minimum contest prize is $99. Higher the prize will attract more and higher caliber designers. We found out that best logo/dollar ratio happens for contests with prize around $170. So if your budget allows, set your prize around this range will get you the most bang for your buck.
Average contest duration: 7.4 days
One of the advantage of 48hourslogo is our fast paced contest. On average, our client took only 7.4 days from launching the contest to selecting a winner.
Average # of projects per client: 3.8
This come as a little surprise because we didn’t think that average business will need multiple logos designed. But it turns out that we do have lots of repeat customers. Another factor that help increase this ratio is our white labeled customers. May web agencies outsource their logo projects to us and some of them have launched more than hundred contests on our platform.