Questions such as why customers seem more interested in brand A than brand B or why customers seem to make more purchases from company C and less from company D are all too common in the business world. In fact, in an attempt to answer these questions, Facebook conducted a poll involving 15,000 customers and found out that 4 elements – cost, quality, experience, and consistency were the major influencers of a customer’s trust and loyalty.
Some customers prefer the more costly products as they associate cost with quality. Some customers are drawn to brands based on past experiences, while others seek new adventures and experiences. Also, customers are drawn to a brand that offers consistency, and one way of achieving this is to focus on your brand positioning when drafting different company name ideas.
This brings us to the results of the survey conducted by Squadhelp in a bid to discover the different reactions our customers have towards modern and classic brands.
Why Did We Carry Out This Survey?
So, why did we seek out customers’ opinions on classic and modern brands? The essence of this survey is to determine how well customers view classic and modern brands and which is preferable. This allows you to easily make the right decisions when creating or rebranding your business, including decisions on brand positioning and company name ideas.
To do this, we needed to ask customers which they preferred between established/reputable companies and new/innovative companies
What’s The Essence Of Our Question?
If you’re wondering why we had to throw this question to the public, the simple answer is brand tone. Every entrepreneur looking to set up a new company or rebrand an existing one needs a specific tone to mold their brand identity and determine how their customers view their brand.
And because the most critical hurdle when it comes to branding is picking between a classic and modern tone, our survey on the different opinions from different demographics helps brand owners make the right decision. It also helps determine your customer expectations, and you can work towards surpassing these expectations.
The Results Of Our Research On Brand Positioning
Squadhelp asked 301 individuals questions regarding their preferred brand tone, and the following were the different responses:
- For individuals in their twenties and thirties: these groups preferred emerging companies to well-established firms
- For individuals between 35 to 45: though this group shared a more even division on their opinion of the two brand tones, the majority preferred the young, upcoming brands to the well-known brands
- For individuals aged 45 to 54: the reverse was the case here as this age grade leaned more towards the well renowned and established brands over the emerging ones
- For individuals between the ages of 55 to 65: this group also preferred the established companies
- For men: when we asked the men, they had no preference
- For women: however, the women were more interested in classic brands
At The End Of The Day
We recorded that the younger demographic preferred young, modern, and innovative brands while the other demographic preferred traditional, classic, and reputable brands. Therefore, you, as an entrepreneur, can now plan your brand positioning strategy according to the demographic your brand is interested in reaching.
So, if you’ve decided that your brand will focus on members of the young demographic, go for a more modern, fresh, and original identity. However, if your business lies with the older demographic, then your brand identity should be shaped to appear more established and traditional.
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.