Exclusive Research on Brand Positioning in 2022
Why are people captivated by certain brands but indifferent to others? Why do buyers favor one brand over another? These questions have been posted numerous times in the corporate world.
After polling 15,000 people, Facebook discovered that quality, experience, cost, and consistency were the elements that had the most significant influence on brand loyalty and trust.
Some clients may love to buy pricey things, while others shun expensive items. Some customers may support a brand because of a past encounter with that brand, while others seek fresh experiences from various firms. The exponential rise of fast fashion is proof that most people don’t prioritize quality either.
Consistency is what every consumer values above anything else. The best way to build a consistent brand is to focus on your brand’s position. We recently tested several brand positioning concepts so you can understand how customers react to modern vs. traditional brands.
What Purpose Does This Survey Serve?
This study aimed to determine which brands individuals are drawn to and how this varies based on their demographics.
The information we gathered will assist business owners planning to rebrand their small, midsize, or large companies in making rapid, well-informed choices that’ll adequately position their company.
However, to satisfy the survey’s objectives, we questioned Americans if they would prefer dealing with an old and renowned organization or a fresh and modern one.
Here’s Why We Had to Ask that Question
When rebranding your company, it’s critical to understand that selecting its tone is one of the most crucial and lasting branding decisions.
The appropriate tone is crucial since it gives founders, brand managers, and corporate leaders the ability to influence their company’s identity and how people perceive them.
Consider how changed the market would’ve been if:
- Jobs and Wozniak called their business Executex rather than Apple.
- Bezos insisted on using Cadabra rather than Amazon.
- Phil Knight had stayed with Blue Ribbon Sports rather than Nike.
- Larry and Sergey had stuck with Backrub over Google.
The tone of your brand influences your company’s overall identity and consumers’ expectations of your brand. Tone is vital to positioning your brand that you can’t afford to overlook when designing your company’s name strategy.
And our poll was explicitly designed to assess which customers would be drawn to modern businesses and which will be drawn to traditional firms. We did so because one of the essential considerations a company must make when rebranding is whether to represent itself as a modern or traditional brand.
What the Survey Discovered About Positioning
Despite the fact that the study’s findings were not earth-shattering, the responses were surprising and refreshing. Here’s a brief breakdown of what we learned from the 301 people that took part:
- People aged 25 to 34 find new businesses attractive. More than half of those questioned favored new and current companies over well-known and dependable ones.
- People between the ages of 35 and 45 choose new companies over classic and reliable ones. This age group, however, was equally split between the two options.
- People aged 45–54 and 55–65 were more attracted to traditional and reliable brands.
- People between the ages of 55 and 65 were naturally drawn to classic and reputable firms.
- According to the data collected, men exhibit little inclination for either current or traditional brands.
- On the other hand, women prefer classic and traditional brands over current and modern ones.
- Out of 301 respondents, 153 liked traditional and trustworthy businesses, while 148 liked modern and creative ones. According to the study’s findings, companies may adopt any stance they choose as long as it is in tune with their primary audience.
What Impact Does This Have on You?
Our research discovered that most of the younger population is interested in new, modern, unique, and disruptive firms. So, to appeal to a younger audience, make sure your company has a distinct, current, and innovative brand identity.
But what if your intended audience are older Generation X and Baby Boomers? The research shows that customers between 45 and 65 are more likely to choose traditional businesses, so be sure to position your company as a classic and dependable brand.
Any business owner who wants to rebrand their company properly must focus on enhancing their services and communicating with a clear tone.
Rebranding your business with a solid brand name is one of the most effective ways to connect your product, audience, and business. And utilizing a trusted business name generator is the easiest method to get some compelling business name ideas.