{"id":7159,"date":"2019-04-16T09:15:07","date_gmt":"2019-04-16T09:15:07","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=7159"},"modified":"2021-10-25T18:34:37","modified_gmt":"2021-10-25T18:34:37","slug":"revealed-poor-branding-put-startups-at-risk","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/revealed-poor-branding-put-startups-at-risk\/","title":{"rendered":"Revealed: Poor Branding Put Startups At Risk"},"content":{"rendered":"<figure id=\"attachment_7160\" aria-describedby=\"caption-attachment-7160\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-7160\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2019\/04\/branding.jpg\" alt=\"Revealed: Poor Branding Put Startups At Risk\" width=\"800\" height=\"533\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/branding.jpg 1200w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/branding-300x200.jpg 300w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/branding-768x512.jpg 768w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/branding-1024x683.jpg 1024w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/branding-287x190.jpg 287w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-7160\" class=\"wp-caption-text\">Revealed: Poor Branding Put Startups At Risk<\/figcaption><\/figure>\n<p>How often do people see companies\u2019 branding or adverts without being able to discern what it is they actually do?. To find out that Studio Graphene has commissioned an independent, nationally representative survey among more than 2,000 UK adults. It ran a little experiment for it: the participants were given a list of 10 company names and their logos, as well as a muddled-up list of 10 descriptions that corresponded to the companies \u2013 they had to match the description to the name and <a href=\"https:\/\/www.artworkabode.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">logo<\/a>. Each of the UK businesses raised more than \u00a33 million in Series A investment last year.<\/p>\n<p>The <a href=\"https:\/\/cityroadcomms.us10.list-manage.com\/track\/click?u=fe1df0a893d2d3696686b888c&amp;id=1f6fb56b97&amp;e=0629eeb5b7\" target=\"_blank\" rel=\"noopener noreferrer\">research<\/a> found:<\/p>\n<ul>\n<li>On average, only 21% of respondents were able to correctly identify what a company did based on its name and logo<\/li>\n<li>40% successfully identified\u00a0<strong>Medopad<\/strong>\u00a0as a HealthTech company, making it the best performer<\/li>\n<li>Conversely, just 8% correctly guessed what\u00a0<strong>Waldo\u00a0<\/strong>do \u2013 an ecommerce platform for people to buy contact lenses<\/li>\n<\/ul>\n<p>To delve further into just <a href=\"https:\/\/www.technologyhq.org\/the-best-ways-to-build-a-brand\/\" target=\"_blank\" rel=\"noopener noreferrer\">how important businesses\u2019 branding<\/a> and marketing are in influencing a consumer\u2019s spending habits,\u00a0Studio\u00a0Graphene\u00a0also discovered:<\/p>\n<ul>\n<li>Half (51%) of UK adults said they\u00a0regularly\u00a0see adverts in the media and struggle to understand what product or service is being advertised<\/li>\n<li>62% avoid engaging with a company if it\u2019s not immediately obvious what they do<\/li>\n<li>And 55% feel too many new businesses today opt for obscure names that do not relate to what they do<\/li>\n<li>42% of people say that branding plays a role in their purchasing decisions<\/li>\n<li>And 67% go for well-known brands when making major purchases (cars, holidays, etc.)<\/li>\n<\/ul>\n<p>With the average UK consumer exposed to dozens of advertisements every day, standing out from the competition has become a challenge for all businesses. However, many companies\u2019 obscure branding and unclear marketing are driving away customers, new research has revealed.<\/p>\n<p>Studio\u00a0Graphene\u00a0asked an independent, nationally representative sample of more than 2,000 UK respondents to correctly identify what the following 10 companies do based on their names and logos \u2013 Medopad, Quantexa, The Plum Guide, vTime, OLIO, Seatfrog, Lightful, Spectral Edge, Waldo, Lexoo. All of these are UK-based businesses that raised more than \u00a33 million in Series A investment in 2018.<\/p>\n<p>The survey found that on average only a fifth (21%) of consumers could match a business\u2019 name and logo to its description. The best performer was Medopad \u2013 the HealthTech firm, aided by the inclusion of \u2018med\u2019 in its name, was correctly matched to its service offering by 40% of respondents. Conversely, a mere 8% recognised that Waldo was an online retailer of contact lenses. To avoid this situation, you should do everything you can to forge a good brand name. If you lack inspiration, try using software that can quickly <a href=\"https:\/\/logo.com\/business-name-generator\">generate many business names<\/a>.<\/p>\n<figure id=\"attachment_7161\" aria-describedby=\"caption-attachment-7161\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-7161\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2019\/04\/what-is-branding.jpg\" alt=\"\" width=\"800\" height=\"533\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/what-is-branding.jpg 1200w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/what-is-branding-300x200.jpg 300w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/what-is-branding-768x512.jpg 768w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/what-is-branding-1024x683.jpg 1024w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/04\/what-is-branding-287x190.jpg 287w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-7161\" class=\"wp-caption-text\">what is brand?<\/figcaption><\/figure>\n<p>Studio\u00a0Graphene\u00a0then asked the sample about their general perceptions toward logos and branding, and how important they are when it comes to using a company\u2019s product or service.<\/p>\n<p>The research found that the majority of consumers are inundated with adverts they do not understand. Half (51%) said they\u00a0regularly\u00a0see adverts in the media and struggle to identify what product or service is being advertised. Moreover, 61% avoid engaging further with a company if it is not immediately obvious what they offer, while 55% feel too many new businesses today opt for obscure names that do not relate to their offering.<\/p>\n<p>Studio\u00a0Graphene\u2019s study also found that 42% of people said branding plays an important role in their purchasing decisions. Furthermore, two thirds (67%) typically go for well-known brands when making an expensive purchase, such as a car or a holiday.<\/p>\n<p>Ritam Gandhi, founder and director of\u00a0<a href=\"https:\/\/cityroadcomms.us10.list-manage.com\/track\/click?u=fe1df0a893d2d3696686b888c&amp;id=21b335aca1&amp;e=0629eeb5b7\">Studio\u00a0Graphene<\/a>, commented: <em>\u201cToday\u2019s research underlines two things: how important branding is within consumers\u2019 financial decisions; and just how many businesses are failing to brand themselves effectively. Indeed, with the average person exposed to hundreds of advertisements each day \u2013 whether in a newspaper, on TV or via social media \u2013 confused branding can result in businesses losing potential customers.<\/em><br \/>\n<em>\u00a0<\/em><br \/>\n<em>\u201cWhether you\u2019re a startup or large enterprise, business leaders cannot overlook the importance of clear branding. A company must create a brand and market it in a way that is simple, memorable and relevant.\u201d\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How often do people see companies\u2019 branding or adverts without being able to discern what it is they actually do?. To find out that Studio Graphene has commissioned an independent, nationally representative survey among more than 2,000 UK adults. It ran a little experiment for it: the participants were given a list of 10 company [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":7160,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[3666],"tags":[5617,3711,3440],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v19.7.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Revealed: Poor Branding Put Startups At Risk - OpenBusinessCouncil Directory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/revealed-poor-branding-put-startups-at-risk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revealed: Poor Branding Put Startups At Risk\" \/>\n<meta property=\"og:description\" content=\"How often do people see companies\u2019 branding or adverts without being able to discern what it is they actually do?. 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