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Are Your Brand Colors Costing You Money?

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A logo is important to your business. A logo is how people recognize and identify your company’s brand. When coming up with a logo for your company, you likely spent just as much time, if not more time deciding on the color. The color of your company’s logo may not seem like a big deal. It may seem like a personal preference of whoever is at the top of your organization. The color of your logo, however, has much say in how successful your company is. Believe it or not, the color of your logo can either bring in customers or cause your business to lose money.

Why Colors Matter

Humans are wired to take in information visually. We are more likely to remember things and make associations between objects better with visuals. Color also attracts attention and evokes certain emotions. These elements have major implications for marketers. According to a Fast Company article, 85% of consumers base their purchasing decisions on a brand’s logo color. It takes less than 90 seconds for consumers to make unconscious judgements of a product or company based on viewing the logo’s colors. Eighty percent of consumers report that a company’s logo colors increases their recognition of a company.

The right logo colors can grow a company’s audience through increased brand awareness and web traffic. All this results in increased sales and profit. The power of brand colors over a company’s success warrants much consideration and in many circumstances a substantial financial investment.

How to Choose Brand Colors

There are no hard and fast rules in picking a color for your company’s logo and brand. The colors you choose should be appropriate to your company’s product or service offerings, and the emotions you want to evoke in your customers. Your company’s brand colors should not be overwhelming to customers, they should not be similar to those of competitors and they should evoke positive reactions from consumers.

A good way to get an idea of possible color options is to consult your company’s marketing and design team members. Asking consumers what they think of your company’s logo colors, how the colors make them feel, what reactions the colors evoke and what they associate with your company’s colors. While these responses aren’t conclusive, the feedback will provide some valuable information about whether your current color scheme is making money for your company or is costing your company.

The main objective in selecting colors for your brands is to enforce the personality you want consumers to have about your brand. That personality should not only be positive, but it should subconsciously compel them to take a certain desired action.

According, to an article found at Empower Yourself with Color Psychology, each color and its associated business connation was noted. It is a handy guide to help you decide on what colors to possibly use in your branding and logo.

Red

-Calls for action to be taken. It conveys high energy and strength and draws attention to itself.

Orange

-Implies adventure and creates enthusiasm. It portrays optimism, friendliness and affordability.

Yellow

-Is uplifting and illuminating, stimulating mental clarity.

Green

– Is associated with nature, health and healing. It evokes emotional balance and compassion.

Turquoise

-Evokes balance, self-expression, strong communication and emotional recharge.

Blue

– Is the safest color to use in most applications, implying honesty, trust and dependability.

Indigo

– Is a powerful and strong color which conveys integrity and sincerity.

Purple

-Implies wealth, quality, fantasy and creativity.

Magenta

-Often seen as a spiritual or practical color. It implies compassion, balance, common sense and kindness.

Pink

-Portrays nurture and compassion. It is also non-threatening. It is often associated with feminine businesses.

Gold

-This color is traditionally associated with value, prestige and luxury. It can also imply generosity and beauty.

Silver

-Is a modern color that evokes sophistication, calmness and some mystery.

Black

-Shows authority and power. Can be intimidating and unfriendly if used excessively.

White

-Implies order, simplicity and efficiency.

Gray

– Is a neutral and conservative color that implies security and reliability.

Brown

-A strong and reassuring color that implies comfort and reliability. It’s a good color companies with outdoor goods and service.

Your company may not be seeing the success or results you’d expect because of your choice of logo and brand colors. Having the appropriate colors to match your products and what your company is all about is important for consumers to have a positive, more accurate perception of your business.