This article by Matt Sharrers first appeared on SalesBenchmarkIndex.com.
Our guest today on SBI TV is Brendan Cournoyer, Vice President of Marketing for Brainshark. Last year, Brendan and his team completed a successful brand transformation and he’s here today to share with his peers the behind the scenes view of why and how he made it happen.
Brendan and I discuss how to create an inspiring brand that tells your strategic story to help you make your mark on your industry and drive revenue growth for your company. To follow along, leverage SBI’s 2018 Workbook and turn to the Brand Strategy & Planning phase in the Marketing Strategy section, found on pages 254 – 259.
This is a fascinating show where Brendan shares his approach to the major transformation of an established brand from the beginning, and the compelling business need for a complete overhaul of the brand. He discusses starting the rebranding effort and what process he went through to audit his brand, as well as what he found during that process. If you would like to download the full transcript in a word document, click here.
Brendan shares his tried and true process for developing a new, inspiring brand and launching that new brand both externally and internally, to get the sales force engaged. Skip to the 13-minute mark of the video to watch how Brendan explains his process for rebranding and successfully marketing this new brand.
Matt and Brendan discuss in depth how the Brainshark team made this happen:
“We worked with a third party brand agency, and the first thing we did was intelligence gathering. We did qualitative and quantitative research both internally and externally. We provided a survey to almost 200 people externally and internally, but also performed interviews with key stakeholders within the company, and customers and prospects who are familiar with us and allowed for us to learn what the current brand and the previous brand, meant to them. You want to see where you currently stand so you can benchmark your branding, but you also want to get an understanding of the positives. The things that built the equity your brand currently possesses —- you don’t want to lose that. So, with any new brand that you’re going to launch, you want to make sure you’re maintaining the things that are still working for you.”
From his point of view, Brendan Cournoyer describes the core opportunity for brand differentiation that inspires his branding strategy and planning. Brendan recollects his earlier strategic process and explains what he would’ve done differently and the key lessons he learned throughout his marketing career. More specific to his company, Brendan describe the early results of his rebranding effort:
“Over the past few years leading up to the re-brand, our business began to identify the sales enablement market as a place where we could really add a significant amount of value. We began to focus our brand positioning and our product development in that space, but as you do that, you realize that your history might be influencing you. In order to really go all in and make a statement, you have to be bold. For our company, we decided that we wanted to step away from what our historical brand was and present what the new Brainshark was all about. That got us to the point where we were starting to develop products that were more focused around sales enablement and readiness. We were creating collateral and marketing content that explained who we were as a company, and how our brand was going to specifically reflect our message.”
Your competitors are making the same claims and promises as you. They even use the same words. Brands that are built on “who you are” and “what you do” do not produce above average revenue growth. Your brand heavily impacts revenue growth when it is strengthened by the sales group and becomes uniquely relevant to your customer and prospects. Skip to the 28-minute mark of the video to watch Brendan explain how the Brainshark brand’s impression differs from that of its competitors.
An Additional Resource
Have expectations gone up and left you wondering if you have the right marketing strategies to support your revenue growth goals? Here is an interactive tool that will help you understand where you have strengths as well as gaps. Take the Revenue Growth Diagnostic test and rate your Marketing Strategy against SBI’s emerging best practices.