By Guest Author: Grant Polachek
Grant is the head of branding at Squadhelp, a 3X Inc. 5000 company that produces unique, and creative brand names for Fortune 500 businesses and startups. As one of the top crowdsource naming companies in the world, we have thoroughly researched over a million submissions and prepared a definitive list of appealing domain and business names online.
Every business must focus on marketing its products to its desired audience to beat the market and get higher sales than the competition and brand positioning is one of the keys to successful marketing.
However, to effectively promote your products, you must offer your business and its items appealingly to your target market. But before doing this, you must know precisely who your target customers are and the proven ways to capture their attention, which requires in-depth market research.
But unfortunately, because market research is usually lengthy and expensive, most businesses try to do without it. However, unless you understand your market, you won’t be able to present your business in a tone that most of your customers will connect with, which could jeopardize your brand’s success.
Why Was Our Study Carried Out?
We were curious about which businesses our clients preferred, what tone would be more appealing to them, and how age influenced these two factors.
Now, whether you decide to brainstorm or use Squadhelp name ideas, this survey will help you understand how to position your brand with a compelling name that connects with your target audience. Brand positioning is one of the keys to success.
We understand the significance of a good market survey for any emerging brand. That’s why we conducted and compiled this extensive research to assist other entrepreneurs in determining the right approach to take in their business and get their brand positioning on target.
We discovered, in this survey, how different clients respond to companies that use modern, imaginative tones vs. those that use classic, long-standing tones. We questioned over 300 American customers and gathered data that enabled us to determine which brands various client age groups in the market prefer and favor.
The respondents were asked if they would buy from companies with traditional and classic brand tones or those that adopted modern and fashionable ones.
Why is This Valuable for Your Business?
If you want to be noticed in your market, you must make your brand attractive and desirable to your target audience by skillfully utilizing brand elements like your business name and logo, as these are the first aspects of your brand that people will encounter.
But before creating a brand positioning plan and naming your business, you must examine your target market to identify the types of companies and services they prefer.
If the tone you select for your brand doesn’t resonate with your target market, your business will drift away from its core user base and be out of place in the market.
Let’s Look at the Outcome of the Survey
Breaking down the research results, we divided the data by age group to facilitate a clearer understanding and use of the information. Although the poll results weren’t extraordinary, the feedback we got was a surprise.
Out of the 301 individuals who gave us their opinion, the following was the outcome:
- People aged 25 to 34 were more likely to favor companies with modern and fashionable brand tones.
- In the poll, people aged 35 to 44 indicated that they preferred modern and stylish companies. However, there is only a small difference between the two tones, meaning both tactics would be successful for this demographic.
- The survey revealed that those aged 45 to 54 prefer firms with an established and reputable tone rather than ones with a modern and stylish vibe.
- Finally, individuals aged 55 to 65 are especially keen on corporations with a traditional and established style.
- The poll found that males had no clear preference between companies with a modern or classic approach.
- However, female respondents were more likely to lean towards the more established, long-running businesses than younger ones.
- Of the 301 participants, 143 chose newer, more innovative brands, while 158 chose the more traditional ones.
To make the most of this research, it’s important to identify the age group of your target market and shape your brand to their preferences based on the findings of this survey.
Here’s How This Can Benefit Your Business
Our survey has revealed that young people are more attracted to modern, trendsetting, and progressive brands. To target this demographic, you must create a distinct, up-to-date, and imaginative brand image, like TikTok, KitKat, Zoom, etc.
On the other hand, if you aim to attract an older customer base, like older Baby Boomers and Gen Xers, your brand should have a more traditional feel, like Facebook, Dolce & Gabbana, Amazon, and Apple.
When coming up with the perfect name for your company, make sure it’s unique and reflects the core values of your business and the demographic you’re trying to reach. You can brainstorm or use a business name generator for this task.
If you have established your brand positioning, the next step is to make your customers fanatics about your brand! We have a great course from our sister site Fabulous Fempreneurship called “Engage”
This in depth course by Michael Solomon, Ph.D is for:
- New entrepreneurs who want to learn how to ENGAGE with their customers
- Entrepreneurs who want to understand consumer behaviour
- Small businesses that want to engage with new clients
What you will get in this course?
- Almost 6 hours of solid content with actionable suggestions you can apply to your business on Monday morning.
- *Free Workbook to help you to apply what you’ve learned.
- *Bonus Video on the basics of market segmentation.
- Certificate of completion issued by the prestigious Marketing IMPACT Council™. (MIC)
- *MIC will also offer access to discounted membership options for qualified individuals and organizations, as well as special access and pricing for Greco Associates’ advisory services, and for Council Strategic Partners such as CommunicationsMatch™, WeCare4®, MDLIVE, and RGI.
- *Complimentary access to course creator Michael Solomon, Ph.D. for questions or comments.
If you would like to have a 30 minute complimentary chat about how we can help you with your marketing, contact us at any time to set up an appointment.