Businesses

Don’t Let Your Startup Be Left Behind— Get Ahead With This  Research on Brand Positioning 

Indeed, branding has always been a growing and evolving idea, but in essence, the concept of branding your firm means satisfying the demands of your target market through your business’s tone, messaging, personality, and objectives.

But sadly, only a tiny percentage of business owners know how to shape and position their brand so that it reflects the values of their target market. And that’s what we’d be exploring today.

today.

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Positioning is Key

Many companies, like Juicero and Essential Products, made the error of developing goods that didn’t cater to the demands of their intended market. And as it turned out, this caused these brands to collapse.

Businesses must create exceptional goods that solve specific painful issues if they want to stand out in their sector, just like Netflix and Amazon did in their early years.

However, in order to hit this goal effectively, it’s critical to learn who your target market is and how to position your brand in such a way that it evokes their interest.

And to assist you in doing that, we’ve carried out a thorough customer survey that provides excellent insight into what kinds of businesses attract specific audience demographics. This research will make it easier to connect with your target audience. But to better understand our study, we need to take a simple look at brand positioning.

What is Brand Positioning?

When it comes to brand positioning, many business owners are ignorant about how the market cares so much about it and why their firm has to take a solid position in today’s overcrowded market.

Brand positioning, put simply, is the place your brand holds in the minds of your target market. It is the way your brand distinguishes itself from rivals and how customers relate to and engage with your services. It is also one of the most crucial elements of a successful brand strategy.

The thing about brand positioning is that it happens whether or not you want it to. Your target customer automatically categorizes firms in their minds through price, tone, communication, packaging, shop design, domain name, and website design.

And this ’automatic positioning’ happens because it’s what gives consumers a way to determine whether your brand can satisfy their basic needs or not.

Every business must consciously create its brand identity to prevent being automatically positioned in their consumers’ minds.

And yes, it’s challenging and costly to reposition your company away from whatever negative connotation your clients have accepted.

Unless you’re comfortable with customers associating your brand with something that is not consistent with your fundamental beliefs, you must constantly watch and maintain your brand’s position.

Now that we’ve gotten a quick understanding of branding and brand positioning quickly, let’s return to the survey and see how you can make the most of it.

What is the Point of the Study?

The truth is that a brand’s capacity to position itself properly hinges on how well you pinpoint your target audience and how well you tailor your content to suit their requirements. Effective brand positioning only happens when your company’s objectives and those of your customers are in line.

As we mentioned earlier, the goal of the study is to identify the kinds of businesses that certain demographics are more likely to frequent as well as some trends that are guaranteed to wow them.

So we asked Americans whether they would prefer to do business with a well-known, established corporation or with new and modern ones in order to achieve the goals of our poll.

Here’s Why Our Question is Vital

You must understand that picking an engaging tone is one of the most challenging decisions you’ll have to make while starting or expanding your business. And that’s why every founder has to pay attention to thoroughly understanding their target market and the distinctive features of their company because this would help them develop a strong brand tone.

A well-positioned business is built on an attractive tone. Your communication style and how you portray your company are both reflected in your tone, and every company has to choose the right tone since it will improve the audience’s perception of its brand.

But your company’s tone is shaped by your brand name and influences every aspect of it. This is why it’s so important to choose a brand name that appeals to the characteristics of the target market you’re seeking to reach.

There are three simple paths to developing the best name for your brand. The first choice is to creatively generate some fantastic name suggestions, which entirely depend on your naming prowess.

The second path you can take is to seek advice from branding professionals. The third and probably simplest option is to create memorable brand names by using a great company name generator.

And the best thing about utilizing a company name generator is that you can quickly discover effective domain names for sale that will help you position your firm online.

Remember that the name and tone of your business have an impact on consumer preferences and the reputation of your business. And they’re both essential for developing your brand identity and positioning your brand.

This is What We Discovered

Despite the fact that our findings weren’t very noteworthy or revolutionary, the feedback we received was valuable and interesting.

Here’s what our survey of 301 persons showed.

Modern, cutting-edge companies are more likely to be chosen by people in their 20s and 30s than conventional, long-standing, and traditional ones.

People between the ages of 35 and 45 choose new, contemporary businesses over old, well-established, and traditional ones. This age group is quite adaptable and equally drawn to both kinds of enterprises.

People in the 45 to 54 customer demographic opted for more trustworthy and established businesses.

Companies with a traditional and classic identity strongly appealed to consumers between the ages of 55 and 65.

According to our research, men have no particular preference for either established or modern brands.

Women prefer well-established, trusted, and traditional companies to relatively new ones.

148 of the 301 poll participants liked shopping at modern and fresh businesses, while 153 favored sticking with classic, tried-and-true favorites.

The results of our study suggest that you are free to position your company as traditional or modern as long as it fits the tastes and demographics of your customer base.

Analysis of the Results

As seen in the results of the survey above, younger customers in the 25 to 34 customer demographic found fresh and modern brands appealing. So, consider positioning, branding, and choosing a name that fits in this category if you want to attract younger members of Gen Z and Younger Millennials.

However, people aged 45 to 65 have a significant preference for reputable companies. Keep things practical and traditional if you want to appeal to an older market that includes older Millennials, Gen-Xers, and Baby Boomers.

Overall, there was a very modest preference for reputable and established businesses, and women, in particular, were more inclined to voice this preference.

There have been lengthy discussions regarding whether women are more risk averse than men, some of which are pretty fascinating and all of which are entangled in a jumble of biological research and societal standards, but it is evident that this merits further investigation.

And what did our poll reveal regarding branding strategy?

In terms of demographics, it shows that your brand tone matters. So, make sure to know who you’re marketing to before deciding on a brand strategy, position, and company name for your company.

Here’s How This Works in Practice

Hulu is a clear illustration of how this applies in real life. If the brand tone were put on a sliding scale when the name was being created, the slider would’ve slid all the way to the right marking it as “fresh and innovative.” And despite only being a US-based business, Hulu has achieved remarkable success with a whopping 40 million users.

Naturally, this ties to the fact that Hulu’s brand tone is appropriate for both its service and the target audience. Innovation must appear in a brand’s offerings in addition to its name and brand color scheme.

All of Hulu’s material was created to appeal to young people and even Gen-Xers, and we all know that young people love new and creative brands.

Choosing your brand tone doesn’t necessarily entail going in the same direction everyone in your industry is headed, but whatever tone you choose must be represented in the services your company offers and the way you do business.

Is There a Middle Ground?

Compass, the smart real estate firm, is an example of a corporation that balances an innovative and traditional tone, all with the aim of attempting to attract both younger and older consumers. Real estate is a booming, conventional sector, but the brand wants to inject some fun and excitement into it.

Compass is performing well, with a recent successful IPO valuation, but they have also come under fire for deviating from the business model it promised.

And that’s the thing: it’s incredibly difficult to advertise yourself effectively when you’re attempting to fall somewhere in the middle of the brand tone range.

In the end, every brand has its proper position on the scale, from fresh and cutting-edge to renowned and dependable. If you want to identify yours quickly, consider your ideal clientele’s personalities and generate name ideas that align with them.

Just make sure you recognize who will be your ideal client and create your brand with them in mind!

Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world’s leading crowdsource naming platform, supporting clients from early-stage startups to Fortune 500 companies.

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