Exclusive Research on Brand Positioning in 2022
The market is always evolving; competition is tough, and every company reacts swiftly to these changes. And, to thrive in the face of such fierce market conditions, your brand must capture the hearts of your target customers.
But how can you win over those who have never engaged with or used your amazing products and services? The solution lies in understanding brand positioning and how it can assist your company in gaining the trust of its audience.
And what better way to fully grasp the principles of brand positioning than by putting them to the test? That’s exactly what we did in a recent survey. We tested these concepts to gain a clear picture of how customers react to modern vs. traditional companies.
Curious Why We Conducted the Survey?
Our objective was to discover which position attracted more people and how this differed based on their demographics.
It doesn’t matter if you’re an entrepreneur running a small, medium, or large business; this research will help you make rapid, well-researched branding decisions that’ll boost your business’s chances of success in a crowded market.
But, to achieve our goals, we needed to ask Americans a critical question: “Would you prefer to work with a new and innovative brand or a traditional and trustworthy one?”
Why Did We Ask This Question?
First, you need to understand that choosing your brand’s tone is one of the most crucial and defining branding decisions you’ll make when starting or rebranding your company.
Every business owner, product manager, or brand executive must choose the perfect tone for their company since it’ll assist them in effectively positioning their company.
- Hydrox had a better name than Oreo
- Amazon was still Cadabra
- Nike had remained Blue Ribbon Sports
The tone of your brand has a significant impact on your company’s identity and people’s perception of it. Your brand’s tone is so important to your business that you can’t afford to ignore it when looking for the perfect fantastic business name.
Our survey delved deep to determine which group of customers loved new brands and which preferred traditional brands. We chose to focus here because we understand that deciding whether to go modern or traditional is an essential decision most entrepreneurs struggle with when developing their brand.
Here’s What We Found
Although we expected some of the feedback we received, the overall findings were incredibly eye-opening.
Here’s a brief rundown of what we discovered from the 301 people that participated in our survey:
- Modern companies appealed to people between ages 25 and 34. Half of those surveyed chose new brands over traditional ones.
- People between the ages of 35 and 45 also loved modern companies. However, this group was evenly divided between the two options.
- Traditional brands had a strong appeal among customers between the ages of 45 and 54, as well as those between the ages of 55 and 65.
- People between the ages of 55 to 65 also loved traditional brands.
- Men had no preference for either new or traditional brands.
- Women, on the other hand, loved traditional brands over modern ones.
- From the 301 persons we surveyed, 153 favored traditional brands, while 148 loved new brands.
- From our survey, it doesn’t matter if your brand is traditional or modern; it has the potential to thrive in any industry.
What Does This Mean for Your Company?
Most young people love brands that are innovative, creative, and unique. So, if you want to appeal to a younger audience, make sure your brand’s tone is modern and engaging.
But if your primary audience are Baby Boomers and older Gen Xers, you should use a more traditional tone.
Every entrepreneur who intends to position their brand must examine their products, services, brand tone, and, most importantly, their target customer demographics.
And the best way to instantly connect your product, audience, and business is to create a unique brand name with a strong company name generator.
Grant Polachek is the Head of Branding at Inc 500 company Squadhelp.com, the world’s #1 naming platform, with 30,000+ customers from early-stage startups across the globe to the largest corporations including Nestle, Philips, Hilton, Pepsi, and AutoNation. Get inspired by exploring these winning business name ideas.