BRANDING: Rebranding from a heritage brand
In October 2007, Lloyds TSB Registrars became Equiniti following its purchase by Advent International from Lloyds TSB Group. Equiniti is the UK's leading share registration and employee share plan provider and under the Lloyds TSB name, it was part of a widely known, respected and trusted brand. Following the purchase, the company embarked on a full re-brand to develop a new identity and company name, while at the same time continuing to maintain the company's reputation for being a quality service provider and market leader in the share registration and employee share plan sector.
Before we embarked on the re-brand we bought in two agencies to help create the name, brand positioning and creative treatment. Having an outside perspective brings fresh insight and the creativeness needed to develop the new brand. Working with Interbrand to devise a company name and review the brand positioning, we wanted something that was abstract but that could be registered globally, as we do not know where our future growth could take us.
Interbrand came up with a short list of three possible names for the business and we put it to an employee vote. As with any change to the brand, it is important that employees are part of the process, after all they will be the ones who will be using the name when meeting with clients and promoting our products and services. From the start, we made sure our employees were fully engaged in the process. More than 50 per cent of employees voted for the Equiniti name. We also held a series of road-shows and staff forums explaining what the changes meant to the business and allowing staff to ask questions.