How to Use Brand Positioning to Grow Your Business in 2021
Make Rapid, Well-researched Branding Decisions Utilizing Exclusive Research on Brand Positioning to Help Grow your Business in 2021.
Given the increasing number of startups that open their doors each year, it’s getting tougher to establish your company in a market that’s quickly getting congested with branding noise.
Thanks to the pandemic, customer behaviors are becoming more unpredictable worldwide. This change in customer behavior has made it difficult for entrepreneurs to correctly position their business.
But despite these obstacles, several trusted brand positioning principles can help your new business stand tall in its industry.
In a recent survey, we explored these principles to see how different customer demographics react to modern vs. traditional brand positioning. The information gathered is of great benefit for businesses needing to understand how to brand positioning to grow their businesses.
Why Was This Survey Necessary?
Our survey aimed to discover which brands attracted customers and how this attraction varied based on their demographics.
This research would assist business owners, whether they manage small, medium, or big businesses, in making rapid, well-researched branding decisions that’ll position their company for success.
But, to achieve the survey’s objectives, we needed to ask a critical question:
“Would you prefer to work with a new, modern brand or an old, trusted one?”
Why Did We Ask This Question?
First, understand that selecting your brand’s tone is one of the most significant and defining branding decisions you’ll make when starting or rebranding your business.
Choosing the right tone is critical because it helps entrepreneurs, product managers, and brand executives position their businesses.
Consider what would’ve happened if:
- Amazon had remained Cadabra
- Zappos had remained Shoestore
- Hydrox had a more appealing name
The tone of your brand influences both the overall personality of your business and how customers perceive it. Your brand’s tone is so important to branding your company that you cannot afford to ignore it when developing a naming strategy.
Our survey was specially formulated to discover which audience demographic favors new companies and which prefer old ones. We opted to focus on this because deciding whether to go modern or traditional is one of the most critical decisions entrepreneurs make when developing their company’s identity.
Here’s What We Learned from the Survey
Although the survey’s results weren’t surprising in some ways, the responses we received provided definitive insight.
Here’s a summary of what we discovered from the 301 persons we surveyed:
- People between the ages of 25 and 34 were drawn to modern brands. Half of those surveyed chose new brands over old ones.
- People between the ages of 35 and 45 chose modern businesses over traditional ones. This group, on the other hand, was evenly divided between the two alternatives.
- People between the ages of 45 and 54 and those between the ages of 55 and 65 favored old and trusted brands over modern ones.
- Traditional businesses attracted a lot of people between the ages of 55 and 65.
- Men have little to no preference for either modern or traditional brands.
- Women, on the other hand, chose traditional businesses over modern ones.
- Among the 301 individuals polled, 153 preferred traditional companies, while 148 preferred new and innovative ones.
The survey’s results only go to show that your brand will thrive whether it has a modern or classic tone.
What Does This Mean for You?
According to the poll, most young people are drawn to fresh, modern, and innovative brands. So, if you want to attract a younger audience, create a brand tone that’s modern, unique, and engaging.
However, if your target demographics are Baby Boomers and older Gen Xers, it’s important that you adopt a traditional brand tone.
From the survey, entrepreneurs who want to position their brand properly must focus on their audience, products, services, and brand tone.
The best approach to integrate your product, audience, and business is to create a great brand name, and you can easily achieve that by using a powerful business name generator.