Establishing a good brand is the most efficient way to convince people that your service or product is excellent and that they should try it. Without a doubt, branding can touch the hearts and minds of clients if you put the right touch on it.
As a result, you should have a solid understanding of how branding influences the performance of your business. This way, you can understand how your brand's positioning affects the interest that your target market invests in your items, which might determine whether or not your company succeeds.
And to guide you, we performed a survey to fully understand brand positioning and assess how people reacted to companies with a modern brand identity and those with a more classic one.
What is the Aim of This Brand Study?
This study explores the kinds of businesses customers are more likely to patronize and how this differs by age group.
This will help you determine how to come up with a business name, as well as other branding elements that will appeal to your customers' personalities and needs, thereby increasing the chances that your business will be successful.
Therefore, in order to reach the study goals, we asked Americans whether they’d rather do business with well-known, well-established companies or with new, creative, and emerging ones.
What’s the Impact of This Brand Survey?
Realize that setting an engaging tone is among the most crucial decisions you'll make when establishing or rebranding your company. And to develop a strong brand tone, it is critical to understand your target audience and your business's identity.
Every business must determine the correct tone since it can strengthen its brand identity and shapes how the public views the brand. Your customer's interests and your company image are both influenced by your brand.
And since getting an exciting tone is vital to creating your startup’s identity, you should give it all the care and attention it needs.
Results of the Brand Survey
Here’s a quick look at the results of our research.
- Customers between the ages of 20 and 30 are far more likely to patronize newly founded businesses than well-known ones.
Courtesy: Squadhelp
- Customers between the ages of 35 and 45 prefer innovative companies over well-known ones.
Courtesy: Squadhelp
- The age group of 45 to 54 favored more reputable, traditional, and established businesses.
Courtesy: Squadhelp
- People between the ages of 55 and 65 were interested in companies with traditional identities.
Courtesy: Squadhelp
- According to our research, men are equally attracted to brands with modern or traditional identities.
Courtesy: Squadhelp
- Women, on the other hand, prefer well-known brands over new and innovative ones.
Courtesy: Squadhelp
- 148 of the 301 participants chose new businesses, while 153 chose classic ones.
Courtesy: Squadhelp
Our study shows that as long as it meets the demands of your target audience, you are free to position your business with a modern or traditional tone.
What This Means for Your Startup
Every entrepreneur who intends to correctly position their brand must examine their products, services, brand tone, and, most importantly, the demographics of their target customer.
So, from our survey, give your brand a modern, distinct and engaging personality if you want your business to attract the young crowd. But if you want to attract an older audience, give your business a more classic and traditional personality.
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 such as Nestle, Dell, Nuskin, and AutoNation.
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