MasterCard‘s (known as Interbank in 1966 and MasterCharge till 1979) logo and name has changed since 1968, and at the core, the two overlapping circles in shades of red and yellow have remained the same. MasterCard is undoubtedly one of the unique brand and most recognizable brand mark appearing on millions of cash machines and billions of credit cards.

“To thrive in this new digital world where business moves faster than ever, we want to modernize and elevate the brand in a design that is simple and elegant, yet unquestionably Mastercard.”, said Raja Rajamannar, chief marketing and communications officer, Mastercard. In an attempt to tackle this, Pentagram designed a new logo for the brand. Gone are the italics, they introduced FF Mark in typeface and retained the red and yellow circles, but with a brighter shade. What is most striking is they removed the stripes the brand identity has since more than two decades, making the identity more recognizable and simple.

“We haven’t touched our brand mark for about 20 years now and the company has changed really dramatically in that time,” says Chuck Breuel, VP Brand Marketing at MasterCard. “We’ve expanded all of our products and services and that’s really accelerated over the past few years, so we took a look at the logo and said, ‘I think we can do some things to have it more closely reflect where the company is’. To make it simpler, more impactful in a way, but still instantly recognizable,” he says.

Logo on Credit Cards

Overall, the new look is a clean break for Mastercard to establish a clear house style that stems from the simplicity and crispness of the new logo.

“A brand is worthless if it doesn’t connect with the right audience in a relevant way.”

In a fast-paced world, where consumer choices, demands and favourites change overnight, businesses often comes off bad. It’s unrealistic for an organisation to believe that the perfect mix of products, systems, infrastructure and workforce is at the top of its game.

Brand identity is integral, akin to a signature. It is unique, personal and identifiable, and a positive brand image works wonders for business. The decision to rebrand however is a big one – it is not just changing your brand logo and designs. Rebranding, if done skilfully, is a massive win for any company. A well-thought out, strategic brand strategy focuses on the positives and eliminates the negatives.

Thinking about rebranding? Do you need to? Here are some key points to consider:

• Take a step back and evaluate. Is your brand doing all you want it to do? As the saying goes, ‘If it aint broke, don’t fix it.’ But if it is, know exactly what parts of the mix are flawless, and what isn’t working the way it should.
• Assess the playing field. Know your competition. Establish their strengths and weaknesses and relate them against your own.
• Know yourself. What can you do better? Try everything possible when it comes to giving yourself that extra boost to set you at the forefront of the competition.
• Customer. Customer. Customer. You know your customer? Look again. Pay close attention to consumer behaviour and find out if you’re really giving them what they want.

The big decision. Rebranding is more than just a change in logo and tagline. It’s about telling your brand story the way it was meant to be told, so that everyone listening, never forgets.

Successful rebranding takes your business up a ladder that previously didn’t exist, giving your brand the foundation to evolve and flourish, whilst reinforcing your core business strategy, values and image.

It’s a conscious choice to stay relevant, revive growth and build loyalty. It may not be easy, but it will definitely be worth it.

Reference : James Pass Design