Was your logo created more than 7 years ago? Do you currently have a low-quality logo that is now a bit out of touch with the direction of your company and competitor trends?
If so, you may be losing sales, potential customers, and overall engagement, to keep your company thriving. Here are 7 key signs that your company needs to update its logo.
1. The company has evolved
The existing logo served its purpose for a period of time, however, now, your company is in a new era which can be attributed to:
2. Brand consistency
When you invest in marketing/promoting your company and its associated products and services, you want to stay top of mind when it comes to your customers. A consistent brand design will help do just that.
All of your marketing activity should follow a set of brand and style guidelines specific to your company to reinforce that brand awareness.
If your brand has several products/services, it is vital that you can be easily identified. Customers are more likely to buy a product if they’re already familiar with the brand.
This, again, reinforces the need for a set of brand and style guidelines. These statistics presented by papirfly demonstrate the importance of brand consistency:
If the answer is, yes, it’s definitely time for an update or rebrand.
3. Launching into a new market
Changing the company logo can be an effective tactic if you’re trying to attract a new audience segment or enter a new market.
Sometimes, a logo change is necessary when a company wants to branch out internationally to be relevant to that new market and audience. There’s a number of reasons why this could be the case, maybe the brand name resonates to just the audience in its home country, or there are cultural sensitivities around its current form in some countries.
If your current logo is not achieving the set strategic business goals for your new audience, it’s time for a change.
4. A planned increase to the price of goods or services
The expectations of customers with an existing brand are not to be under-estimated. They know exactly what they will get and how much they will pay from a company by the reputation its brand has helped build. A new identity in the form of a logo update or rebrand can give your company a new lease on life and justify associated price increases.
5. New marketing channels
When your logo was created, the intent back then may have been to only use it on the company website, business card, and brochure.
Now, there are so many more marketing channels and tactics to take into consideration, e.g., social media, email campaigns, mobile responsiveness, podcast branding, etc.
6. Confusion with competitors
Depending on the size of your market, one or more competitors might have logos similar to yours. This is an additional reason to refresh the brand with an updated or new logo to help your business stand out – cut through the noise – and put you ahead of the competition.
7. Need to attract new talents
Companies with a fresh, contemporary style look more attractive not only for customers, but also for potential employees. If you want to engage the brightest and the best of new talent and skillsets to help your company reach maximum potential, be on brand - change the logo according to the latest design and social influences. Look like you are at the top of your game to attract the best.