56% of the top brands’ logos incorporate both text and a symbol. Combination marks (occasionally known as iconic logotypes) are the best of both worlds, so it makes sense that they’d be so popular; they spell out the name of a company while simultaneously associating it with a visual icon.
Because combination marks are more complex, they require more time and thought to design effectively. But that extra work gives you a logo design that’s more versatile than most. These logo types can often be split apart, giving you the ability to use the text or the symbol independently if the situation calls for it.
From a legal perspective, combination marks tend to be easier to trademark than symbol-only logos, which can often look a bit similar. Making a logo that resembles a red five-pointed star puts you at odds with every other company with a similar registered logo (Macy’s and ReverbNation, to name a couple), but including unique text can help set you apart.