It is definitely a hard task to keep your business logo relevant as the preferences of consumers are changing on a regular basis. The identity of your business that appeals to your customers presently may not appeal to them after some years. Hence you may have to consider some alterations in your company’s logo to keep pace with the growing changes in the present day competitive market. Here are a few reasons to update or refresh the image of your company logo.
When You Merge Your Business with Another Business
When the time comes to merge your business with another company, redesigning the logo becomes a necessity to represent the combined entity. Corporate mergers have become a quite common occurrence nowadays to survive and compete in the world of business. When such a thing happens, you are required to unveil a fresh business logo to inform your customers about the change. For example when Chase Manhattan Bank and JP Morgan joined to form JP Morgan Chase, a new logo was designed to make people aware of the partnership.
The identity of your brand not only educates customers about your business but clears all types of confusion regarding your entity. However, when your business has a vague and confusing identity, customers may get puzzled about the primary purpose of your business and may find it difficult to remember your logo. For instance, the 2012 London Olympics logo was highly criticized for being irrelevant and perplexing to the brand identity of the Olympics.
When Your Company Logo Needs a Refreshed Image
Sometimes, the logo of your business may start to look outdated. After being in use for years, the customers of your company may find the brand mark of your business not matching up to the latest trends. They may also get bored with the look which is certainly not what you need for further growth and exposure of your business. At such a point of time, you need to consider reinvigorating your logo to provide it with a fresh and new look. Companies like Audi, Coca Cola, FedEx, etc. have all revamped their logos to give it a fresh and innovative look by retaining crucial facets of their respective brands.
Shift of Focus
After operating for quite a few years in your niche, you may decide expand your operations or shift your area of focus to an entirely new niche. For example, you may want to increase your service and/or product line which will ultimately lead to modifications in the purpose of your business. Thus, you need to make your customers aware of the transformation by redesigning your logo. Starbucks recently unveiled its redesigned logo after deciding on introducing a new array of products.
Upgrading the Image of Your Company
Corporate brands often become victims of negative publicity. Though, it can be handled to a certain extent through an effective PR campaign but at times, more severe measures are necessary. For instance take the case of BP (British Petroleum). The company received huge criticism after it was charged for several oil spills between the years 1997 and 1998. However, the company changed its logo in the year 2002 to revitalize its lost reputation and image. Though, it is quite unlikely that your business may suffer an extreme negative publicity that will force you to come up with a redesigned logo but, it can turn out to be an effective strategy to shift the attention of the public.
The logo of your business is a representation of your corporate identity. It is the face of your business that reminds customers of your brand. Though, effective design is critical for the success of your logo but, there are certain circumstances where you may need to consider making changes to your existing logo for the benefit of your business.