02 Mar Is it Time to Redesign your Financial Logo?
While your financial logo is by no means your entire brand, it does play an imperative role in your branding and can help position your company to attract the right kind of client for your company. An effective financial logo design gives your company a visual identity, it creates recognition and help to strengthen your overall brand. As one of the first things your potential clients will see your logo needs to accurately reflect your company and its values.
If it has been a while since your logo was created, it might be time for a redesign. As your company has grown, it is possible that it has outgrown your current logo; making a redesign essential for further growth. There can be many reasons behind the decision to redesign your logo such as a shift in the focus of your company or to redefine your company’s beliefs and values; It’s a process that provides clarity about your brand’s future.
Here are some of the most common reasons for a financial logo redesign:
Trends and fashions change and in today’s digital world they change fast, the desire for a modern logo is one of the most common motivations behind a redesign. If your logo looks dated, a redesign can help give your company a modern feel and is a tool to help you retain old customers, while successfully attracting new ones. A good marketing agency will keep the very best elements of your logo, while keeping it fresh and staying away from fads. As consumers we judge companies on their brand both consciously and subconsciously; an interesting logo can help build customer loyalty.
Companies often react to losing market share by rebranding; with logo design being one of their biggest priorities. A well designed logo can help your company stand out against the competition and gives your company a visual brand identity. Brand identify is what gives your company its unique edge and is how customers recognise you.
Change of Company Focus
Many companies tweak their business models, change or add new services and products to stay competitive and profitable. If you used to do X but now you do X and Y, it might be time to revisit your branding and logo design. Your customers will only know that you do X unless you find a way of making them see that you also do Y.
It is no easy task to distance a brand from a negative image, but rebranding is sometimes a corrective measure and effective strategy for a company trying to recover from a bad image. Changing the look of a company demonstrates to clients, that you recognise the need for change and are working towards a positive future.
Mergers & Acquisitions
Rebranding often takes place following a merger or acquisition, this is often to make the change visible and comply with legal requirements. Under new rule, the values, vision and priorities of the company may change. The period following a merger or acquisition is a great time to make sure strategy and creative align to reflect the new goals, vision, message and personality of the new entity.
A company can outgrow a name, maybe the name no longer fits who you are or you may have encountered a trademark conflict. In any case, a change of name gives birth to a new existence and provides a great opportunity to examine your entire brand from the ground up; starting with the design of your financial logo.
Some financial services start-ups experience growth without having a professionally designed logo. However, a financial logo redesign becomes an important step for young businesses to be taken seriously as they scale and challenge established companies.