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Things to Consider Before Abandoning Your B2B Brand Name
What happens when you put an incredibly articulate CMO in a cab with the host of Renegade Thinkers Unite? Genuine fast-paced goodness, that’s what! Jennifer Renaud, CMO of Vertiv, a $4.5 Billion company that spun out of Emerson Power in late 2016, is absolutely riveting as she shares the stories of two large companies that abandoned well-known brand names with frightful results.
The first company in question was Oracle. During her time there, Renaud witnessed the disappearance of both the Eloqua and Responsys brands in favor of the new Oracle Marketing Cloud. The initial results were not pretty as thousands of Eloqua and Responsys lovers searched in vain for those brands. Site traffic dropped off dramatically until they returned to using the old names at least on landing page.
Amazingly, the same thing happened at Vertiv, the parent company of brands like Liebert, Avocent and Geist. While none of these are household names, it turns out they are well liked in their vertical markets. Shortly after her arrival at Vertiv in April 2018, Renaud visited a customer who had not heard of her new company, but when she shared the name of the other brands, he said proudly, “oh great, do you want to see my Liebert?” It was at the moment that Renaud realized that bringing back the Liebert name, at least online, as well as the others, could have a dramatic impact on their business. She was right!
If you’re thinking about abandoning a brand name, then do listen in both to understand the risks and to hear ways of mitigating the downside. And for anyone who wants to make a case for growing brand awareness, you’ll find it especially interesting to hear what happens when that awareness is suddenly taken away. Fascinating insights await you. Enjoy.