Is it Time to Change Your Brand Mark?
Changing a brand mark is not only a costly endeavor, but also one that can change your relationship with customers, key stakeholders and the general public dramatically, for the better or for the worse. So, it goes without saying that changing your brand has to be a strategic decision, rather than a reactionary one — but, how do you know when it’s time?
The decision to change your brand mark is influenced by various internal and external factors. Here are few factors:
Internal factors
Change in reputation: Nothing like a name change and a new look to put a bad situation in the past.
Change of name: When a company changes its name, of course, a new brand mark is is always necessary.
Change in strategic position: If the mission of a company changes, a new brand mark help communicate the shift to key customers in a positive, exciting way.
Change of ownership: If two brand marks are in a face-off, which mark has the most equity and which will be the most beneficial for the merged company in the long-run? Perhaps neither.
Change of leadership: Whether its for a good reason or a bad one, sometimes new leadership desires the shake up that only a new brand mark can bring.
Change in culture: When a company changes its culture, it needs to project itself differently.
External factors
Change in market share: If a company loses market share, a shift in the brand mark can create new buzz around it.
Change in consumer habits: Every generation has different preferences, but sometimes their values or habits also change. If a brand mark is out of sync with consumer habits, the company is faced with the need to rebrand.
Change in primary audience: When products do not change and your audience does, you may be left with a mark that does not communicate to the new audience.
Change in competition: Every day new competitors enter the market — sometimes one comes along that requires a company to step-up its presentation and rethink its brand mark.
Change of aesthetic preference: This is the case when the mark was not done very well in the first place or the mark has simply become “out-of-date.”
I can’t stress enough that, even if it is faced with one or many of these factors, a company shouldn’t assume that a brand mark change is necessary. Brand equity takes time to build, but it can erode quickly if changes to the brand are not properly evaluated. Take your time and weigh the factors.
If you determine a brand mark change is in order, there are ten million ways to do it, and the process can be a satisfying, rewarding and fun adventure with the powerful results you desire.
