There are few UK banking and investment companies as well recognized as Pricewaterhouse Coopers. So why would a powerhouse like this change their name and logo design in one fell swoop? Pricewaterhouse Coopers—or PwC—is like any other business, trying to stay afloat in an economy where many are sinking.
The old Pricewaterhouse Coopers name was a little long, but well-recognized in the world of finance. Many insiders and clients referred to the giant by its initials, PwC. Pricewaterhouse Coopers is being replaced by this set of initials, bringing a new and youthful feeling to the company.
The logo design is being refreshed as well. The old logo was in black and white, which is versatile but not good for the company brand. In modern times, many companies have a set colour palette, and not having one is certainly a disadvantage. The old logo was mainly text, with the only image being a rounded square with the company initials enclosed within. While this is businesslike and serious, as befitting an established industry giant, it lacks the friendliness to invite new clients. With many people feeling suspicious of the banking and finance industry, a friendly and inviting brand is more important than ever.
The new logo is friendly and inviting enough to breathe new life into a very old company. The company initials, which will be the new name, are written in lower case letters. This informality is balanced by a serious, straightforward font with serifs, with the middle letter written in italicized letters. The image has a colour palette reminiscent of a sunrise or sunset, with oranges, yellows, reds, and pinks. This gives the impression of change and transition while also being attractive to the modern customer.
The image is abstract, but meaningful. It is created from a series of squares that blended together into an abstract shape. This again creates a sense of balance, as the squares are representative of tradition while the abstract shape gives a sense of freedom.
People are looking for a happy medium when it comes to financial services. On one hand, you want a business that has a long tradition of success in the field. After all, most of us don’t understand the world of finance enough to know exactly what creates success in the field. A track record of success puts people at ease with the unknown.
On the other hand, we all are looking for companies that are forward thinking, especially in an economy where many financial companies are failing. Further, consumers want to feel that their needs are understood and that their financial company is approachable. The abstract nature of the logo makes PwC feel a little more accessible and user-friendly.
If your business is trying to create an entirely new brand image, or simply trying to drive home key differences between you and your competitors, a new logo design and a slight change in brand may be the answer. This is just one example of how a logo can be used to convey the image that you are trying to project.