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When is it time to update your logo? Do you need a brand refresh or a complete overhaul? Here are 5 clear signs it’s time!
People tend to underestimate a logo’s power and impact, especially on an untapped customer base. Even great trademarks need to be updated; it tells the world your business is current and credible. The logo is the face of a brand’s identity. Just because they have a logo, many leaders think they’re done with “branding” their business.
It’s a mistake to think the brand is “all set.” Branding starts well before a logo is designed.
Are you thinking you need a brand refresh or a completely new logo?
Say you have a friend who likes his favorite suit. He paid a lot for it years ago and has great memories wearing it. Is it wise of him to keep wearing it? Sure, it’s a little outdated, but it’s “still a good-quality suit,” right?
Unless you have a close friend or an enemy who will be 100% honest, how will you learn that you look like a pudgy disco-king?
How do you know when it’s time to update your logo?
Here are five clear signs that business leaders must consider if they want to build a strong brand and stay relevant in the marketplace.
1. Your logo needs an apology.
Are employees hiding the merch and not wearing your logo? If word ever gets back that people “just don’t get your logo,” pay attention.
It is surprisingly common for senior company members to think that people won’t recognize their brand if they change their logo. Not true if the upgrade is done well. When a business upgrades its identity, it sends a powerful message in the marketplace and creates momentum internally with employees, positively impacting the company’s brand.
If your employees aren’t wearing the shirts you provided because the logo looks dated, you’re chipping away at company pride, missing an opportunity to strengthen your company’s culture and attract talent. This is a frighteningly costly miscalculation.
2. Your logo is all over the place.
Often, it’s not noticed until a new generation of leadership enters the picture. That is a perfect time to review whether the company’s identity appears outdated.
Frequently, after decades of use, logo files have been lost (or were never properly created!), different logo variations can be found everywhere, and there are no company brand standards in place. You are jeopardizing your brand’s credibility if you don’t maintain graphic integrity and your logo is inconsistently displayed in various media.
3. Your business is anticipating a move, merger, or going to market.
Moving or adding a location requires updating everything from stationery to signage. This is a perfect time to consider an identity redesign. A merger, depending on the stature of the companies, will mandate a need for brand clarification and signify that new and better things will be happening.
An updated identity is a no-brainer. When selling, any business that will be on the market will glean more if its identity is up-to-date and consistently implemented. It’s called curb appeal.
4. Your business is evolving.
As a company grows, it evolves, and often, this maturation leads to significant changes in the business. Additional product or service lines could mandate new markets, which should demand new messages. This reason to change is the toughest for business owners to see.
Often, it’s gradual, taking place over time. Sadly, the competition has dominated the market by the time it’s realized.
5. Your competitors are gaining traction ahead of you.
Have your competitors upgraded their logo? Don’t let this happen: do it before your competitors do! Forward-thinking businesses set the pace for their industry. This will also include a progressive and continual analysis of a company’s brand identity. If your company delays in critically updating your brand identity and message, it’s likely your competition won’t.
If your competition takes this step before you do, they look like the leader.
Here’s a true story of a Michigan industrial company we worked with whose rebrand sent them on a trajectory for success.
Midway Rotary updated its brand identity, changing its name to Midway Engravers.
As a Michigan manufacturer, they updated their logo to reflect their new technology and progressive company.
PROBLEM: After 35 years, Midway Engravers had progressed technologically. However, they looked like the same tired company with their existing branding. Since their look was outdated and their business name irrelevant (their core business was no longer engraving), the leadership team decided it was time to rebrand.
SOLUTION: Identity Creative helped update Midway’s identity, which included changing their name from Midway Engravers to Midway Rotary and creating a trademark that conveyed the unique attributes of their products & services.
Identity Creative created a shorter, more effective sub-line and explored logo concepts that captured the die-cutting process and a symbol story. The new identity is now creatively distinctive and relevant to its industry.
RESULT: Midway reported an immediate 10% uptick in sales after they launched their rebrand. The fresh, bold presence opened the door to communicate their technology to the marketplace.
Still not sure whether you need a brand refresh or a complete overhaul? Let’s talk!
A distinctive and credible brand identity is only one facet of a business’s success, but it’s one that everyone sees. It’s imperative to intentionally maintain your company’s identity and not just let it happen or let it go. Failure to do so automatically leads others to define your brand and cost you the market share you may otherwise command.
If you’re looking for a creative partner, you’ll want the RightFIT Checklist.
Find the right creative team to guide your team to a brilliant brand >>Download it here.
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