Brand Equity Scorecard
Brand Equity Scorecard in Action: Egnyte
When Egnyte a cloud-based file storage and sharing platform wanted to convince prospective customers to switch their content platform from industry giants like Microsoft and Dropbox, they needed a brand message that would resonate with their target audience and drive conversion. The platform was already trusted by over 16,000 customers across specialized industries including architecture, engineering, construction, life sciences, and financial services.
TippingGardner developed a brand story, messaging streamlined brand architecture centered around the idea of “Secure content services for a content-critical world.” To validate our recommendations, we conducted a Brand Equity Scorecard study with 640 participants across various vertical sectors and markets.
Results
The results were compelling: 96% of customers found the new brand narrative highly appealing, along with 71% of Managed Service Providers. And almost all Customers (98%) and MSPs (92%) believed Egnyte was capable of delivering against the new brand narrative straight away. As a result of the research findings, Egnyte immediately implemented the new brand strategy across all communications.
The impact of the new strategy was immediate and measurable. After implementing the new story, architecture and messaging, Egnyte achieved 22% year-over-year growth in the first half of 2020 – despite pandemic challenges—with steadily increasing revenue per customer.