Branding has always been a difficult process for many entrepreneurs planning on starting their companies. And this part of business planning is so important in several ways that it can’t be stressed enough.
Remember when you purchased a substandard product just because you enjoyed the advertisement, the logo, or perhaps even the tone of the brand’s name? That’s only a small sample of what branding can do.
Giving your enterprise a voice and expressing your company’s identity to your audience is the foundation of branding.
And to get the best outcome for your business, you must clearly understand how branding can define your firm. This way, you will see how your brand’s position impacts the value your intended audience puts on your goods or services, as well as how this can be the key factor in determining if your organization does well or not.
In addition to helping you fully appreciate brand positioning, we took a poll of certain brand positioning techniques to reveal how consumers relate to companies that have traditional or contemporary positioning.
What is the Main Objective of This Study?
The primary objective of this study is to determine which companies people are likely to embrace and how this varies by age.
We’re certain that the information we’ve collected will assist company owners who are branding or rebranding their small, medium, or big businesses in making quick, informed decisions. This understanding would help you know how to come up with a business name and how to go about developing a unique identity for your brand.
To achieve the survey’s goals, we questioned Americans if they favored doing business with well-known companies or with fresh and different ones.
Why is This Survey Necessary?
It’s crucial to understand that choosing a tone is among the essential considerations you’ll make when beginning or rebranding your company.
The right tone is important for every organization since it helps to build brand identity and how others regard them. It also influences your company’s overall image as well as consumer expectations.
As previously stated, our study aimed to determine which clients favored contemporary businesses over traditional ones. And one reason we chose to concentrate on this was that one of the most important decisions a company must make is to either give their firm a traditional or modern tone.
Here’s the Outcome of Our Research
Despite knowing that our discoveries were not going to be jaw-dropping, the response we got was truly enlightening.
This is what we gathered from the 301 people who took part:
- Individuals aged 20 to 30 were much more inclined to support newly emerging businesses than those that have been around for a while.
- Individuals between the ages of 35 and 45 prefer current and innovative brands to established companies. Nevertheless, this age category was really open-minded, with an equal margin between the two possibilities.
- Individuals aged 45 to 54 tend to drift towards established older firms.
- Trusted and respected companies draw people in between the ages of 55 and 65.
- According to the data we gathered, men had no fondness for either current or traditional brands.
- Women favor well-known and recognized brands over younger versions.
- 153 of the 301 respondents selected long-standing companies, whereas 148 picked new businesses.
Our research reveals that as long as your brand fits with the interests of your customer base, you may position yourself as either a new or traditional enterprise.
How to Get the Most Out of Our Survey
According to the data we obtained, millennials prefer organizations that are new, modern, inventive, and daring, while boomers and Gen Xers favor well-known and trustworthy enterprises.
Therefore, if you would like to reach out to a younger audience, offer your firm a vibrant, contemporary, and energetic brand image; if you want to reach out to an older crowd, make sure your organization has a strong historic identity.
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