Seeing that the number of startups opening their doors grows every year, it might be difficult establishing your company in a market that’s quickly becoming cluttered with branding noise.
The fact that consumer behavior appears to be getting more unpredictable throughout the world in the aftermath of the pandemic has made understanding how to position your business a Herculean task.
But despite all these challenges, there are some brand positioning concepts that not only remain true but can also help young businesses stand tall in their respective industries.
In a recent study, we tested some of these concepts to examine how various customer groups react to modern vs. classic brand positioning.
Why Was This Survey Required?
The purpose of this study was to find out which brands customers were drawn to and how this changed depending on their demographics.
This study would help company owners, whether they run small, medium, or large enterprises, make quick, well-researched branding decisions that’ll position their business for success.
But to reach the survey’s goals, we had to ask a crucial question: “Would you be more interested in working with a new, innovative brand or a traditional, trusted one?”
Why Did We Ask This Question?
First, you must recognize that choosing your company’s tone is one of the most important and defining branding decisions you’ll make when beginning or rebranding your company.
Choosing the perfect tone is essential since it helps entrepreneurs, product managers, and brand executives to position their companies.
- Zappos had remained Shoestore
- Amazon had remained Cadabra
- Hydrox had been given a more attractive name
The tone of your brand impacts both the overall personality of your business and people’s perception of it. The tone of your company’s branding is so essential that you can’t afford to ignore it when establishing a naming strategy.
Now, our survey’s primary goal is to determine which client demographics prefer modern companies and which prefer classic brands. We chose to concentrate on this since selecting whether to go modern or traditional is one of the most important decisions entrepreneurs make when creating their company’s brand.
What We Discovered from the Survey.
Despite the fact that the findings of the survey were quite predictable, the comments we received were surprising and refreshing.
Here’s a summary of what we learned from the 301 people we surveyed:
- People aged 25 to 34 are attracted to modern brands. Over half of the people surveyed preferred new brands over traditional ones.
- People aged 35 to 45 preferred modern companies over traditional ones. However, this group was evenly divided between the two options.
- People aged 45 to 54, as well as those aged 55 to 65, preferred classic and trustworthy brands over modern ones.
- People aged 55 to 65 were particularly drawn to traditional companies.
- Men have little to no preference for either modern or classic brands.
- Women, on the other hand, prefer classic companies over modern ones.
- Among the 301 people we surveyed, 153 favored classic brands, while 148 chose young and creative businesses.
From the survey, it’s quite easy to see that your business will survive whether it has a modern or traditional tone.
What Does It All Mean for You?
The survey makes it clear that most young people are drawn to companies that are fresh, modern, and unique. If you want to attract a younger audience, then make sure to build a modern, unique, and engaging brand tone.
However, if your audience are Baby Boomers and older Gen Xers, it’s critical that you create a classic brand.
From the survey, entrepreneurs who wish to position their brand effectively must focus on their audience, products, and brand tone.
And the best way to combine your product, audience, and business is to find a strong brand name, and the fastest way you can do that is to use a powerful business name generator.