A logo is very important in establishing your identity everywhere - online or offline; in business, sports or entertainment.
Your logo is practically your face. Just like when we see a picture of Mother Mary, we immediately get a feeling love and comfort. When we see a picture of Hitler, we see images of hate and suffering. That is what a logo should do for you and your company. When people see your logo, they should immediately be able to associate familiar feelings with it - positive feelings. If you own a pizza restaurant, when people see your logo, they should immediately think of great-tasting pizza. If you have a laundry business, people should think of clean clothes when they see your logo.
As powerful as faces and logos are, businesses are given a huge advantage. Unlike faces that we are born with, logos can be designed. Not everyone is born with an actor's face. Not everyone can be good looking. Not everyone's face can convey the look that they want. But no company is 'born' with a logo. Any company is free to design the logo that will represent it. This is where Logo Designers play an important role. Any company can design a logo that will convey its ideals and strengths. You should make sure that your company logo conveys the right message and the right 'feel.'
On the other hand, even if people can't choose how their face looks, people can make up for it by emotion. People's faces show emotions to convey their message. A logo cannot do this. For logos, it goes as they say - first impressions last. There are no second chances. When a customer sees your logo and gets the wrong idea or message, there is no way to recover from the 'image trauma.' Not unless you choose to change your logo which should not be done often, if any at all. Changing your logo is like changing your face - you'll have the same name and the same everything, you'll be the same person or company but people won't recognize you. Changing your logo is a double-edged sword.
So the bottom line is this - when building an image for your company, make sure you design a very effective logo. Of course your service and product is very important and it's what's going to sustain the company. But just like people, someone might be a totally amazing person in a bar but no one will ask for their number if they don't look attractive. You can provide an excellent product but no one might be interested to try it if they don't even notice you or give you a second look because your logo is so dull and boring.