We Looked Into Brand Positioning in 2022, So You Don’t Have to. Here’s What We Discovered
For
several entrepreneurs, it’ll only take them failing at starting a business or two before realizing that one major reason they failed was that they lacked the strategic insight to prepare for both long and short-term business growth and challenges.
However, not all entrepreneurs can afford to learn the hard way, as resources are too precious to waste on trial and error. It’s better to know what works before jumping head-first into business. One of the easiest ways to do so is to understand what your customers desire and what type of brand would impress the audience demography you’re targeting.
And that’s just what we did with our research. We compared businesses with traditional brand tones to those with modern and current ones to see how consumers responded.
Why Did We Perform This Research?
We were interested in discovering more about the kinds of companies that various consumers love and how that varied by age group.
As a business owner, realize that connecting the name of your firm and other branding elements to the demands of your customers can enhance and raise the likelihood that your enterprise will succeed.
In order to reach the study’s goal, we questioned American consumers whether they preferred patronizing companies that use classic brand tones or those with modern tones.
Why’s This Question Vital?
Every entrepreneur should be aware that choosing the right brand positioning strategy is one of the most crucial choices you’ll make when beginning or rebranding your company because it significantly affects brand positioning.
Building an outstanding brand requires a thorough understanding of your target audience and your company’s identity.
Entrepreneurs must dedicate time to getting a good name for businesses and products because the right name communicates a compelling tone that’ll enhance your brand’s positioning and have an impact on how the public perceives you.
The Main Results of Our Survey
In order to better describe our findings, we divided the data we collected into several age groups. And although the results of our survey weren’t very surprising, the reactions we received were interesting.
Here are the results of our poll of 301 people.
- Customers under the age of 30 are more inclined to be captivated by businesses with a new and current brand tone, while those older will prefer a more traditional tone.
- Customers between 35 and 45 years were equally split between modern and traditional brands. With how close the results were, it’s clear that this demographic is open to modern or traditional companies.
- The results show that customers between the ages of 45 and 54 favor traditional businesses.
- Customers aged 55 to 65 are particularly aware of the difference in the two options and strongly prefer old and traditional companies over new and modern ones.
- The study found that men have no bias for modern or traditional companies.
- Women, in contrast, choose trusted traditional companies over new and modern startups.
- Of the 301 respondents, 148 of them preferred contemporary, modern brands, whereas the remaining 153 preferred classic, traditional brands.
Based on our results, you can build your brand with either a classic or modern tone, provided that it satisfies the needs of your target market.
Start Positioning Your Business
Building a solid brand identity requires time and dedication. So ensure you apply the results of this survey when coming up with your value proposition, advertisements, and brand name. This way, you can start infusing every element of your business with your brand tone.
Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world’s leading crowdsource naming platform, supporting clients from early-stage startups to Fortune 500 companies.
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Jim Weber – Managing Partner, ITB Partners
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