Since Yahoo's logo is so recognizable, it's a good thing they kept the changes relatively sedate, said branding expert Laura Ries, of the Atlanta firm Ries & Ries.
"One of the worst things in the world you can do is have a logo around for two decades and then do something totally different. It's quite unsettling for consumers," she said. Keeping the purple and the exclamation point was a good idea, she said.
Mayer's overhaul of Yahoo has attracted a lot of attention, but so far it hasn't provided a significant lift to the company's revenue. Yahoo depends on Internet advertising to make most of its money, an area where the company's growth has been anemic while more marketing dollars flow to rivals such as Google Inc. and Facebook Inc.
A new logo is an important part of updating Yahoo, Ries said, but at the end of the day the company has to do a better job of "verbalizing what exactly Yahoo is."
"There's nothing wrong with improving something, putting lipstick on something, but at the end of the day is it a pig or not? That is the question," Ries said.
Yahoo's stock has climbed by nearly 80 percent, but most of that gain has been driven by the company's 24 percent stake in China's Alibaba Holdings Group. Investors prize Alibaba because it has emerged as one of the fastest growing companies on the Internet.
Yahoo's stock gained 16 cents Thursday to close at $28.23.