Rename Time Machine Drive

I use a 1 TB hard drive for my time machine backups. I want to change the name of the drive (not the format or anything, just the name used to identify it.) I tried simply selecting it and clicking "Get Info" and change it from there, but the name of the drive changed back to what it first was the next time I plugged it in. Is there another way I should go about renaming the drive? If so, will it cause problems with my time machine backups and how should I solve those problems? Thanks.