A stand-out logo can make a huge difference. It's all about brand recognition. Think of all the major companies who have instantly recognizable logos without even attaching a name to it. Pepsi, Target, BP, 7/11, the list goes on and on. The goal in creating a logo is to create a unique, recognizable image that instantly draws recognition of your name, and business purpose.

Only as part of a overall branding exercise, depends what your audience.