When I think about what makes a brand work I realize that
capturing the attention of a specific audience through design, reputation, and
emotion are all strong aspects of what breaths life into our creation, but
without brand evolution there is a chance it will not survive.
Just as the best hitters of the Major League try new
batting stances to bring a better approach to the plate (and to hopefully
produce better results) brands should continue to evolve to be effective over
time.
Does that mean that a staple design and brand be completely
disassembled after a few years, not really, but it may depend on the survival
of your product. Overall, re-developing a brand will be always be a way to
reach the current clientele who have supported your product, to keep them
interested in your changes and progress. I also believe it shows them you’re your
product is still relevant and that you are still looking to bring something new
to the table. Sparking interest and possible longevity.
Companies like McDonalds (an example of taking this concept
to the maximum, with an almost unlimited marketing budget) will constantly
reprise their brand, logo, slogans, and even the renovation of their
restaurants to adjust to the current market or a specific group within the
market. Of course they have an unlimited market, but they are a company who see
the value in adjusting their brand to produce profit and target untapped markets with updated campaigns.
(Example of how the Coca-Cola Company has continued to
prosper throughout the years by re-inventing and updating its brand.)
From personal experience, and working for the T. Rowe Price
group, they felt it was imperative to update their brand and logo identity once
the 2008 recession was on a decline and headed in the right direction.
Beginning in mid-2012 they started to change the color scheme, feel and
presence of the company so it gave the client the impression of a solid
organization/reputation, which had a straightforward approach to serving their
clients needs. A very clean, straightforward approach in a time where consumers didn't feel comfortable about their finances, particularly when dealing with financial institutions.
As noted on the site peopledesign.com