Business Advantage - Talking about brand name
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0:23 - 0:26Aviva as a business has actually been
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0:25 - 0:30around for about 300 years in different
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0:27 - 0:33forms and different company names and
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0:30 - 0:34about 10 years ago we were about 50
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0:33 - 0:37different brand names all across the
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0:35 - 0:39world world across our different markets
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0:36 - 0:40and we realized that that was a pretty
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0:39 - 0:43inefficient way of operating as a
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0:41 - 0:46business and that by combining together
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0:44 - 0:50to act more as one business throughout
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0:47 - 0:52the world and having it one brand name
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0:50 - 0:55to sort of signify that unity around the
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0:52 - 0:58world it was pretty critical to start to
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0:54 - 0:57adopt I'm one single name
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0:59 - 1:03the name of Eva didn't come from a
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1:01 - 1:05business it wasn't that we decided to
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1:03 - 1:08take the name from one market and apply
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1:06 - 1:11it everywhere we actually found new name
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1:08 - 1:14so we went to research a new name that
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1:11 - 1:16could work in every market that meant
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1:14 - 1:18positive things but also didn't really
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1:16 - 1:18mean anything
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1:22 - 1:27would any of this have happened to me
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1:23 - 1:32but is still being Richard Starkey way
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1:26 - 1:35Negroes people know Walter Willis have
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1:33 - 1:38got to play the leading man sometimes a
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1:36 - 1:40change in name is more than a change of
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1:38 - 1:45me sometimes it's a chance to show the
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1:40 - 1:47world you've always wanted to be the
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1:44 - 1:50Aviva name first appeared I think in
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1:47 - 1:532002 and that's when Aviva PLC was
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1:51 - 1:54formed and that's when we started being
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1:52 - 1:58listed as a Viva on the London Stock
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1:55 - 2:00Exchange and our smaller market started
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1:59 - 2:04to adopt name Aviva from that point on
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2:01 - 2:06however we left our three largest
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2:03 - 2:08businesses therefore our three largest
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2:06 - 2:11brands they kept their original names so
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2:09 - 2:14they they were norwich union in the UK
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2:11 - 2:17hibernian in ireland and commercial
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2:14 - 2:20union in poland so we left those three
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2:17 - 2:23brands all with their original names and
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2:20 - 2:25it was only in 2009 2010 were those
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2:22 - 2:28brands finally migrated to the Aviva
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2:25 - 2:31name the reason hibernian norwich union
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2:29 - 2:34and commercial union in ireland UK and
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2:32 - 2:37poland kept their names was because they
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2:34 - 2:38were the largest brands the largest
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2:37 - 2:41businesses and therefore they carried
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2:38 - 2:45the most risk to move from their names
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2:41 - 2:50to the new Aviva name however in 2007 we
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2:46 - 2:53had a new CEO Andrew moths and he one of
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2:51 - 2:54his new things really was introducing
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2:53 - 2:56this new vision for the business which
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2:55 - 2:58was about Warren Aviva which is about
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2:56 - 3:01truly harnessing the power of having one
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2:58 - 3:01brand name all over the world
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3:03 - 3:09the logo I think may originally have
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3:06 - 3:11referenced an old norwich union logo and
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3:09 - 3:13but to be honestly it was something that
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3:11 - 3:17was created for Aviva very much thinking
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3:14 - 3:18about the future of the business overall
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3:18 - 3:22the biggest risk when changing your name
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3:20 - 3:23is that you're going to lose people
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3:22 - 3:26along the way that they're not going to
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3:23 - 3:27know that you've changed your name or
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3:26 - 3:29they're going to be confused so what you
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3:28 - 3:31need to do is be very clear with
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3:29 - 3:33communication all the way along the way
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3:31 - 3:34to mitigate that risk by telling people
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3:33 - 3:36that you're going to change your name
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3:35 - 3:39and just trying to be as clear as
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3:37 - 3:39possible
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3:40 - 3:45we announced it to the city first of all
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3:43 - 3:46then we introduce some advertising to
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3:45 - 3:48tell people were going to change our
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3:46 - 3:50name then we wrote to all of our
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3:49 - 3:53different customers so they all had a
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3:51 - 3:56specific communication telling them
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3:53 - 3:56about the name change and then more
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3:55 - 3:58advertising talking about the name
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3:57 - 4:01change and then additional advertising
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3:58 - 4:02talking about what kind of brand Aviva
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4:01 - 4:05was going to be and therefore what they
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4:03 - 4:08should expect from a brand experience of
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4:05 - 4:07viva
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4:08 - 4:14the benefits of having one name all over
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4:11 - 4:18the world are manifold Spellacy I think
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4:15 - 4:20a big one is about having one brand name
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4:18 - 4:21although all over the world makes us
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4:20 - 4:23appear as warm brown one business one
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4:22 - 4:25force to be reckoned with all over the
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4:24 - 4:28world I think you know with the world's
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4:26 - 4:30fifth largest insurance company people
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4:28 - 4:32tend to perceive that we're very UK
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4:31 - 4:34heavy and we are forty percent of our
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4:33 - 4:36businesses here but a lot of our
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4:34 - 4:39business is elsewhere and I think it was
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4:36 - 4:41an opportunity to make ourselves make
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4:39 - 4:43Aviva see much more of a global player
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4:41 - 4:46similarly I think it was an opportunity
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4:44 - 4:50to revitalize the brand I think our
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4:47 - 4:51previous legacy brands were very strong
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4:49 - 4:53I'm talking specifically hear about
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4:51 - 4:54norwich union hibernian commercial union
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4:53 - 4:58because the other businesses has already
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4:55 - 5:00changed the Aviva name but they were
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4:59 - 5:03very strong but they were very and seen
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5:01 - 5:05generally as quite old and old fashioned
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5:03 - 5:07and quite stayed almost and you know
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5:05 - 5:08we're an insurance company that's a
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5:07 - 5:11that's a natural preconception so I
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5:09 - 5:13think actually it's an opportunity to
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5:11 - 5:18revitalize the brand and to give more
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5:13 - 5:20energy and yeah vitality a 222 Aviva as
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5:19 - 5:24the perceptions of Aviva as a business
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5:21 - 5:26and obviously there are also big cost
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5:24 - 5:28efficiencies for having one name all
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5:26 - 5:30over the world in lots of different ways
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5:29 - 5:33just means that we are able to really
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5:31 - 5:36make the most of our buying power make
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5:33 - 5:38the most of our selling power make the
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5:36 - 5:41most of systems and operations and
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5:39 - 5:42websites and all these different reasons
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5:42 - 5:45why it makes so much more sense to have
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5:43 - 5:47one name one way of doing things all
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5:45 - 5:47throughout the world
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5:48 - 5:53I think one of the biggest challenges in
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5:51 - 5:55managing a brand for financial service
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5:53 - 5:58company versus a project that you pick
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5:56 - 6:00up in a supermarket is that particularly
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5:59 - 6:03with insurance actually is that your
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6:00 - 6:05interactions with that brand of very few
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6:03 - 6:08so if you're a tin of beans you know
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6:06 - 6:10people go into the supermarket and they
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6:08 - 6:12pick up that tin of beans no once a week
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6:11 - 6:14they eat that tin of beans once or twice
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6:13 - 6:16a week they have much more interactions
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6:15 - 6:18with it financial services particularly
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6:16 - 6:20insurance what you make one renewal a
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6:18 - 6:21year or you know it's just the statement
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6:20 - 6:23that you receive in the post the rest of
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6:22 - 6:25the time we're not interacting with the
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6:24 - 6:27brand or when people do interact with us
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6:26 - 6:29it's when they're calling to make a
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6:27 - 6:31claim or make a complaint or a square
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6:30 - 6:34there why their rates have gone down so
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6:32 - 6:36it it's that's the biggest challenge is
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6:34 - 6:38that how can we build a brand with very
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6:37 - 6:42few level numbers of numbers of
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6:38 - 6:43interactions and how can we help it to
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6:42 - 6:45be a very positive experience when
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6:43 - 6:48actually dealing an insurance company is
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6:46 - 6:49quite transactional boring thing
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6:50 - 6:52you
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6:56 - 7:01I think the risk of rebranding a
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6:59 - 7:03well-known companies it's well known so
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7:02 - 7:04you're going away from something that's
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7:03 - 7:07a staple something that you know
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7:05 - 7:08everyone knows about and then going to
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7:07 - 7:10something completely new I think the
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7:08 - 7:11reason they were rebranding this case
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7:10 - 7:13was because they had different
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7:11 - 7:16businesses and different places around
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7:13 - 7:19the world which is something I didn't
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7:17 - 7:21realize when I knew norwich union had
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7:19 - 7:22changed that am I never really
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7:21 - 7:25understood why and I'm one of their
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7:22 - 7:27clients I want their customers so I
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7:25 - 7:28think in that case it was trying to bind
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7:26 - 7:30together a company with lots of
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7:29 - 7:33different names and different identities
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7:31 - 7:34in different places which that makes a
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7:33 - 7:37certain amount of sense it's like we're
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7:35 - 7:39decorating a house just just because it
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7:37 - 7:40looks nice doesn't mean it can't use a
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7:39 - 7:45better coat of paint if I go abroad I
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7:41 - 7:47like to know that my company my bank my
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7:44 - 7:49my sort of my restaurant anything that I
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7:47 - 7:52like so much I can go get the exact same
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7:50 - 7:52thing in a different country
- Title:
- Business Advantage - Talking about brand name
- Description:
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Improve your Business English with Business Advantage. In this clip from the Upper-intermediate level of the course Aviva Global Brand Manager talks about managing business brand and the challenges of rebranding. Learn more about Business Advantage at peo.cambridge.org
- Video Language:
- English
- Duration:
- 07:54
Alexandre Clemente edited English subtitles for Business Advantage - Talking about brand name | ||
Alexandre Clemente edited English subtitles for Business Advantage - Talking about brand name |