The process: how the new corporate identity was developed
An organisation’s corporate identity is part of its brand and is therefore a valuable asset. To ensure this value was protected and enhanced, the new brand identity was evolved in a methodical fashion.
The risks and opportunities involved in changing the identity were evaluated. The risks included dilution of the Institute’s existing brand equity. The opportunities included: improving the perception of the Institute, enhancing our media profile and appealing to a wider range of stakeholders.
A series of experts in corporate identity and marketing were consulted. These included a specialist design agency, our PR consultants, a specialist marketing communications consultant and a branding specialist. This was achieved very cost effectively with consulting costs of approximately $15,000.
The new identity was benchmarked against the series of tests described below:
- Logo is clean and crisp to give visual impact in both digital and paper formats, as well as working in colour, black and white and reverse colour.
- Colours and design of logo are acceptable to a global audience.
- Within the logo, the format and font size of the name provides better visibility.
- The corporate identity looks modern.
- We have a short, succinct working name:
- that works with or without the word “Australia”;
- that is not too close to other similar organisations (such as the International Actuarial Association / Institute & Faculty of Actuaries); and
- it has more impact (getting rid of “ofs” and “the”) and emphasises the word “Actuaries”.
The new commercial name and redesigned logo were first tested against these measures and then reviewed to ensure they were acceptable in Asian markets. The new identity then went through a rigorous approval process:
- a formal Brief to Council was prepared and distributed;
- some of the consultants involved in developing the new corporate went through a discussion process with Council members; and
- the new identity was then presented to and approved by Council.