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There is probably nothing more fundamental to marketing than your brand name. It usually takes years to build awareness and equity, especially the kind of equity that helps recruit employees, retain customers and attract prospects. So, when a company decides to change its name, that’s a really big deal or at least it should be given both the challenges of finding a new name and then rebuilding the lost equity. In this episode, Dave Deasy, CMO of TrustArc, formerly TRUSTe, walks us through their entire renaming process.
Over the course of this interview, you’ll learn how to tell when a name change is in order and a concrete process for the development of the new name. Involving an outside naming firm was only part of the answer. Another important component was the role of the CEO and his insistence that the executive committee build consensus together. Along the way, Deasy shows his artfulness, encouraging his branding agency to “get crazy” when thinking about the logo design, a suggestion that resulted in the addition of a fin to the logo and a whole new story line for the introduction. This is just one of the many insightful stories you’ll find in this episode.