Your corporate identity is one of the fundamental elements of your success. It’s what makes you unique and breaks you out of the clutter. However, in some cases or scenarios, you might need to change your corporate identity.
Changing a brand’s corporate identity has been recently common among local and international brands including ‘Etisalat’ and ‘Google’. So, what factors can make you change your corporate identity?
1- You have copycats!
Some emerging brands try to create a similar logo to a logo of a well-established brand. Logo similarity can be either intentional or unintentional, however, in both cases, the consequences are extremely harmful. Your audience is likely to be confused by this logo similarity, which can lead to a huge drop in your sales. Therefore, changing your corporate identity must be a solution here.
An accurate example of this would be the case of Uncle Vanya and Mcdonald’s in Russia. Uncle Vanya is a burger food chain in Russia that designed its logo very similar to Mcdonald’s logo. Due to the war between Russia and Ukraine, Mcdonald’s branches have closed in Russia with a $127 million revenue loss. Uncle Vanya established its operations in the branches that used to belong to Mcdonald’s. Now, it’s achieving huge revenues because of logo similarities.
Another example would be the imitation of Chinese brands by international brands, which causes from $500 billion to 1 trillion.
2- Your corporate identity is no longer inclusive of all your services.
In this case, your identity is not coping with changes happening in your brand. It no longer represents the expansion of services that you’re adding. One of the best examples of this is “Facebook” changing its name to “Meta” and adjusting its logo. The new name will widen the corporate identity to include virtual reality and achieve billions of dollars.
Moreover, “Etisalat” is another example of corporate identity alteration. It’s expanding its services to be more than a telecommunication company. It’s planning to increase its 4g technology and enter the world of Metaverse.
“Anghami” is also a powerful example in this area. It changed its logo to reflect its new corporate identity which is to promote freedom of music.
There are times when brands decide to shift to different target audiences or change the way they operate. This can lead to a total change in the brand’s strategy and plans. Consequently, changing their logo is crucial to announce their new identity, and it’s what most marketing consultants advise.