Do you really need a new company logo?
Once I worked at a startup that was struggling to find product market fit. In other words, our sales were about 95% lower than the lofty goals that our investors expected. The founder thought that tweaking our company logo would help spark sales. Therefore, he hired a marketing agency to create a new company logo. We were on the edge of survival but he thought this expense was worth it. Obviously, the new company logo didn’t help increase sales.
Undoubtedly, branding is important in B2B sales. Gartner has done extensive research on the B2B buying process. They have found that B2B buyers spend only 17% of their time meeting with potential suppliers. Much of the buying journey occurs outside of suppliers’ direct involvement. Buyers do their own research. That research is influenced by the branding and market presence of potential suppliers. Often, the top 3 to 5 vendors get considered. Certainly, buyers will not consider vendors with a weak brand and no name recognition.
What is branding?
The American Marketing Association defines a brand as; “a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers”.
To be sure, branding is not just about a company logo. Your brand is everything from messaging to the user experience with the product. Branding is everything that leads customers to have a certain feeling about your company.
Do this instead of changing your company logo
Before you change your company logo other branding fundamentals need to be in place. Without having these foundational elements changing your logo won’t amount to much;
1. Does your branding set your company apart and articulate your differentiation? You don’t want to look and sound like your competitors. Furthermore, how does your target market perceive your brand?
2. It’s essential that your branding is consistent. Changing your logo contradicts this fundamental need. Therefore, changing the company logo should be infrequent. You can achieve a quick win with a brand audit to look for inconsistencies. Too many different messages confuse buyers and lead them not to know what your brand stands for.
3. In brief, make sure to deliver on your brand promise. Particularly if you operate in the B2B SaaS industry. Not living up to your brand promise sows the seeds for churn. For example, if your brand conveys that your software is ‘easiest to use’ then you have to deliver on that promise. Your software better not be hard to use!
To conclude, it is essential to recognize that your brand encompasses far more than just the color and design of your logo.
