Whether you are choosing color for a product or brand, considering the aspect of color is important for your new business. In fact, research has shown that color can increase brand recognition by 80 percent, while a whopping 84 percent of consumers say color was the primary reason they bought a product.

As a business owner, you are responsible for your own branding. And to be successful here, you need to consider how your choice of colors impacts consumers and represents your business. However, it can prove challenging to pick a palette that defines your brand and matches your personality, considering there are a plethora of colors to pick from.

Here, you will learn how to go about choosing the right colors, but not before understanding why the aspect of color matters to your business.

Why brand colors matter

According to color psychology, colors affect our perceptions and behavior in that they elicit emotions and feelings, and also convey a certain message. Consumers can form an impression before knowing what your brand entails, which means they can decide whether or not to engage with it only by looking at the colors.

As a new business owner, understanding this concept of branding is important in helping you communicate effectively about your business and products. Another thing to note here is that consumers’ response to colors is influenced by three key things:

  • Aesthetics – Some colors harmonize well, while some can be a turn off for customers. Typically, bland or too similar colors tend to discourage consumers.
  • Learned association – Ingrained associations also affect how consumers approach colors. For instance, red can spell danger, white can spell peace, green can spell money, etc.
  • Programmed association – Some color associations are a result of evolution; for instance, brown is associated with rotting, while red is a color of passion and violence.

Steps for choosing the right color for your brand

Identify your brand essence    

First and foremost, understand what your brand is all about and the emotions you want to elicit from consumers. Take into consideration these aspects:

  • Brand goals – Do you intend to inform your audience, make them happy, or help them make money?
  • Target audience – Do you want to inspire confidence or positivity?
  • Personality traits – Is your brand fun, inspirational, or serious?

Taking into consideration your brand goals, target audience, and personality traits helps you to narrow down your choice of colors. For example, if your business targets female consumers, picking a color palette that comprises pink and yellow might be ideal.

Look at competitors brand colors

Many new business owners make the mistake of picking colors that look almost identical to competitors. Try to stand out from the pack by going for colors that are instantly recognizable. You can think about one special quality that your business has and choose a color based on it.

Create your brand color palette

A color palette is a combination of two or three colors that you use for your brand representation. It basically consists of one dominant color, one accent color, and one standard color. Depending on what color works well for your brand, you can choose from the three primary types of color schemes, namely, monochromatic color scheme, analogous color scheme, and complementary color scheme.

Checks to make sure your choice of color works for your business

To be sure that you are working with colors that complement your business and products, seek honest views from experts on the field of business and colors. You can also seek input from individuals who represent your target group.

Another way to confirm your choice of colors is to consult a graphic designer who is well versed with this concept. The bottom line is to do your research well to make sure your choice of colors is ideal for your business.

Summary

When choosing colors for your new business, avoid making the mistake that many amateur business owners make of ignoring the importance of colors for their brand. Do your research well and engage with your target audience before launching the business.

Do you need direction and help developing your business brand? Reach out and we would be happy to work with you on your project.