Meredith Integrated Marketing rebranded as Meredith Xcelerated Marketing (MXM), said Martin Reidy, president of MXM on Oct. 21. Meredith Corp. also said it has acquired a minority stake in London-based marketing agency Iris Worldwide.
The New York City-based marketing services company launched a new website and an email and print marketing campaign to promote the new brand name.
Reidy said the change was made because the term “integrated marketing” was too generic.
“It’s like we weren’t saying anything,” he said. “If you’re a marketing agency, it should be a given that you’re integrated. The word ‘Xcelerated’ is more compelling and more exciting.”
Reidy said it was important to keep the Meredith name because it had been built up and gained industry recognition. He said he chose Xcelerated as opposed to Accelerated because “the letter X looks right and catches your eye” and also because the acronym for Meredith Accelerated Marketing would have been MAM.
“We’re already associated with women’s magazines,” he said. “We would have been known as MAM and we’re not just women’s marketers.”
MXM handled all of the rebrand design-work but tapped the Lippincott Massie McQuilkin agency to manage the name change.
Meredith Corp. also made a strategic minority investment in Iris Worldwide on Oct. 21. Reidy would not reveal the amount of the investment or the percentage of the company acquired by Meredith.
The investment enables MXM to serve clients outside of the U.S. and to beef up MXM’s creative capabilities, said Reidy.
“Our creative was already very strong,” he explained. “But from a visual standpoint, we can benefit from their work.”
The combined agencies will be referred to as the Meredith Xcelerated Iris Global Network outside the U.S. Iris’ U.S. office will maintain the Iris name “for now,” said Reidy. He would not provide a more specific time frame for a name change.
Iris’ cofounder and global CEO Stewart Shanley will remain the CEO of Iris. He will report directly to Briggs Ferguson, COO of MXM Digital.
Reidy said the investment will not result in any layoffs.
Iris Worldwide clients include Shell, Microsoft Corp. and Sony Ericsson Mobile Communications AB.
MXM’s client roster includes Acura, Kraft Foods and Lowe’s.
