Value of Logo Decreasing in Importance
For all you brand believers out there, there is a new study that does not bode well for the importance of a logo in supporting a brand. Brand Keys, a New York consultancy, has released a study showing the importance placed on a logo as a contributor to brand loyalty has decreased for two years in a row. Two thirds now think logos are less important then they were 2-3 years ago.
"Nearly all logos are valuable as long as consumers think they are important and are worth paying for. The problem is that logos-as-brand-differentiators have decreased in the importance they play in the actual purchase process," said Robert Passikoff, President, Brand Keys. "It's not the 'bunker' mentality we observed after September 11. It's a genuine return to basic, solid, unadorned American values, and it's being reflected in the way consumers are reacting to the value of a logo generally, and to particular logos specifically. The weak economy just compounds things."
And for those of you out there that always thought building a brand was just a bunch of puffery used to get client to spend a lot of money, you now have a piece of research to back that up.