Logo design is essential to the success of your growing business. The company logo is part of your company’s marketing campaign, and a strong image that your market can latch onto. A logo represents the nature, character, and values of your business. Image is everything in business, and a company can either thrive or wither away depending on the image that it consistently gives to the public. A logo can set you apart from your competitors. You may be surprised to find out how much money exactly some of the most prominent companies in the world have paid for their logo design or rebranding throughout the years.
Early in 2009, Australian banking giant ANZ began quietly but methodically rolling out its new brand identity. There was little fanfare when a new $15 Million dollar ANZ logo popped up in an Indonesian airport last April. But when the bank debuted its new identity on its home turf later in the year, Aussies started taking notice, including many in the design community who lambasted ANZ’s new symbol as “dreadful.” Now after all the dust has settled, The Financial Brand takes a look at why and how ANZ decided to undertake its branding initiative.
Posten Norge is a company providing postal services in Norway. In 2008, the company launched a massive re-branding campaign that cost 300 million Norwegian kroner and included a whole new logo and marketing strategies. The campaign successfully created positive brand awareness among the users and clients of Posten Norge.
Time Magazine recently included Accenture in what it referred to as the ‘Top 10 Worst Corporate Name Changes‘, putting it in the company of Comcast’s new Xfinity brand, SyFy and Blackwater’s name change to Xe. According to Time, the re-branding of Andersen Consulting to Accenture was “regarded as one of the worst re-brandings in corporate history”. The criteria seems to be that if any name change becomes remotely controversial it qualifies as a disaster costing $100 Million dollars.
In mid-2000 British Petroleum launched a massive $200 million rebranding project. They changed their name to BP and adopted the tagline, “Beyond Petroleum.” The goal of this project was to position BP as an environmentally sensitive company looking for sustainable, green energy sources. At first the public was skeptical, and thought the company was greenwashing. But through conscientious branding, advertising and PR, BP made significant inroads. According to the 2007 ImagePower Green Brands Survey, BP was considered greener than any other oil company. It was also held up for becoming the most green company in the past 5 years. This is all very striking, and even a little startling, when you consider recent events.
Symantec has gone down in history with its logo redesign and re-branding campaign that cost the company over a billion dollars. We can’t say if such a high cost was justified for a logo, but some see this as a rebranding failure, as the company that was once a major enterprise firm is now struggling to re position itself on the market as a provider of mid-market solutions.
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Chris A. Hughes