If a company's offerings fall out of step with its target customer base, its performance might suffer dramatically. Companies must provide the right goods to the proper audience in order to ensure excellent sales in their target market.
However, the way you offer the products also matters because if you give your company or product a tone that does not appeal to your target demographic, it will hinder your business from maximizing its potential. And this is the issue most young enterprises have to deal with.
This problem is easily preventable if companies conduct thorough market research before visiting a naming platform and picking exciting business names for sale, but the unfortunate fact is that many entrepreneurs fail to do so, causing their goods to likewise fail in the market.
As a result, to assist you, we did this lengthy research to offer you a clear picture of how different customers respond to firms that have either a modern and innovative brand tone or a historical and traditional one.
What Motivated This Investigation?
We were interested in learning which businesses clients liked and how age differences influenced their choices.
As an entrepreneur, you should be aware that increasing the likelihood of your company's success is dependent on aligning your company's name, identity, and other branding aspects with the expectations of your target market.
For instance, all creative names for your business should be intriguing to your target audience in order for you to get the best result from them.
And using the findings from this study, you can simplify the process by determining which types of brands people in your market generally appreciate and prefer.
To further our study's goal, we interviewed American customers to find out if they preferred doing business with companies that used classic and recognizable brand tones or those that prioritized new and inventive tones.
How Useful is This Study?
Be aware that choosing the correct brand positioning strategy is one of the essential decisions business owners make when starting or rebranding their company since it has a massive impact on how customers interact with and view your brand's persona.
However, before you begin developing a brand positioning blueprint, you must examine your target demographic and the kinds of brands that most appeal to them. No single product will appeal to everyone, and you can’t avoid this.
But that’s why your products are designed with certain individuals in mind, and those people are your target audience.
However, if your chosen brand tone doesn’t appeal to your target market, your company will not resonate with its core consumer base, and you will quickly be drowned out by competitors.
In summary, thorough market research is necessary for brand positioning, which is one of your company's most essential components.
Let us now look at the results of our investigation.
Here are the Primary Findings of Our Study
We separated the data we obtained into numerous age categories to clarify our findings. Regardless of the fact that the survey's outcomes were not very shocking, the responses we received were quite intriguing.
Here are the findings from the 301 survey respondents we spoke with:
- Younger customers between the ages of 25 and 34, according to our study, are far more likely to be drawn to businesses with a current and modern tone.
- Consumers aged 35 to 45 are equally fond of contemporary and cutting-edge firms. But given how closely the results matched, it is apparent that both options can win over this demographic.
- According to the research, buyers aged 45 to 54 prefer trustworthy, conventional businesses.
- Customers between the ages of 55 and 65 are particularly drawn to historic establishments.
- According to our poll, males do not appear to have a clear preference for traditional or modern businesses.
- Nonetheless, women prefer well-known, established businesses over new, inventive start-ups.
- 143 of the 301 participants preferred fresh, creative businesses, while 158 preferred long-standing, traditional ones.
To make the most of the results from this survey, Identify which age group your target market fits into and adopt a tone that appeals to their tastes.
Maintain a Stable Tone
One reason we’ve observed with business owners who ignored this critical stage is the hefty expense of market research, which few of them can afford, especially when their business is just starting out. But thankfully, you have our survey to help you pick the right tone for your business.
Use the survey data when developing your business strategy, marketing methods, and brand image. Establishing a strong brand image for your company will require considerable time, skill, and work, but your business will be known and credible in the marketplace if your brand tone is consistent.
About the author
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.