Over half of UK start-ups list ‘value for money’ as their brand’s key priority according to new research from Printed.com.
The UK-based study, which surveyed just under 1,000 creative professionals, questioned participants on their work with start-ups and small businesses.
While respondents also placed ‘trust’ and ‘reliability’ high on the list of start-up brand values, the creative professionals believed that standards such as ‘exclusive’ and ‘premium’ were lower on the new business agenda.
Yet many of the study’s participants were of the opinion that start-ups tend to make branding errors, with 52% of respondents believing that new companies fail to create a brand altogether.
In addition, 54% of those questioned felt that new businesses do not consider their target customer when forming brand values, while 71% claimed that start-ups do not take international expansion into account when creating branding elements such as logo designs.
Founder of Printed.com, Nicholas Green believes the results of the study are significant for new businesses. He said: “The research highlights the values and priorities of start-up businesses and exposes the key areas these small businesses are missing which could consequently jeopardise the success of their company.
“ It’s interesting to see that, despite so many technological innovations and social developments over recent years, good old value for money is top of the priority list for start-ups when defining their own brand.”