Marketing matters. Corporations spend millions of dollars developing and promoting their brand names. Even the little mom-and-pop business on the corner gives a lot of thought to its branding and reputation in the community.
It baffles me, then, when I see well-known, long-established names being discarded when companies merge, split, or otherwise change direction. Such deals probably involve a great deal of discussion about who retains or loses the use of valuable brand names.
I’m thinking particularly of the recent split of Brinks Home Security away from its parent Brinks corporation. Part of the plan is that the home security company is now called Broadview Home Security.
Wow. Talk about shooting oneself in the foot. I don’t know which of the two entities thought the split was a good idea, but to give up (or lose) the Brinks name when you’re in the security business sounds ridiculous. Only time will tell, but I think the name Broadview is extraordinarily generic, even if it does start with “Br,” and it simply won’t fly. A Brinks yard sign or door sticker screams SECURITY. A Broadview sign will elicit … a shrug?
I am not unbiased, I confess. I am — or was — a Brinks Home Security customer. I can still use my Brinks sign and stickers, I’m told, but if I were in the market for a new home security company, I wouldn’t look twice at a company called Broadview, even if told it was “formerly Brinks.” It’s not Brinks anymore, and that’s not good.
Heads up, ADT. I see a lot of new business coming your way.