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Color psychology for financial advisers

15 May 2019 Myra Knoesen

Part1
According to an article on Advisor Perspectives, written by Crystal Butler, an entrepreneur, creative marketer and results-driven business consultant with over a decade of experience helping financial advisers, you may not realize the importance that color plays in all aspects of advertising and design.

A poorly chosen color conveys a negative message to potential clients and might turn them away completely. When representing your firm – whether in brand logos, web design or images used in print media – carefully choose every color with the psychology behind the color in mind.

According to Kissmetrics, a web analytics company, viewing different colors causes a release of hormones that causes fluctuations in our moods and emotions, and as a result, our behaviors. This science also tells us that color can evoke emotions that can result in negative, positive or mismatched feelings. Kissmetrics goes on to say that it takes just 90 seconds for a site visitor to form a judgment or opinion, and that, “62-90% of that interaction is determined by the color of a product alone.”

Color plays an undeniable role in creating a strong first impression on users.

What different colors mean

Every color means something to every person. The meaning can vary depending on our individual preferences, cultural backgrounds and even the current season.

Here are some thoughts on how the psychology of color can work for or against financial advisers when choosing a color scheme.

Colors to avoid

These colors should not be used as primary scheme colors but can be used in very intentional and specific situations.

  • Yellow suggests warning and caution or joy and sunshine. Men find it childish/impulsive or even distasteful, but kids love it.
  • Red promotes action and increases pulse, blood pressure and breathing. It symbolizes passion but also fire and blood.
  • Pink is a stereotypical “girly” color. It can stimulate the sweet tooth and convey compassion.
  • Brown is the color most disliked by men and women. It evokes a sense of nature and denotes dependability.

In part two of the article we take a look at positive colors and what this means for financial advisers when deciding on their branding color.


 

Part 2

In part one of the article we looked at what the different colors mean and what colors to avoid. In part two, we take a look at positive colors and what this means for financial advisers when deciding on their branding color.

Possible color to use

Orange is the new red. It provides warmth without danger and is associated with energy and fun.

It can also convey that something is cheap. Men and women are least likely to prefer this color, but kids love it.

Positive possible colors

  • Purple suggests luxury, elegance and femininity. It is generally liked by all women with no negative association.
  • Black is classy, corporate and conventional. It suggests excellence and formality.
  • Green promotes wellbeing and is ideal for ethical campaigns. Lighter shades can denote innovation and freshness, and it’s the color of money which is great for the financial industry.
  • Blue is the most popular preferred color among men. It suggests intelligence or serenity. Dark blue evokes luxury, and light blues are refreshing. It is highly used among banks and financial institutions.
  • White is calming, modern, clean and classic.

With the information above, you can see why most banks use blues or greens. Action buttons on websites can be found in reds, yellows and oranges. Sites dealing with money can be in various shades of green. Each company has chosen colors based on the message they want to convey and the emotions they want the user to feel or associate with their brand.

Color psychology in design is not an exact science. Studies have shown that it’s affected by individual perceptions. Perceptions of a color can change over time, so stay current on industry information and trends. Further studies have also found that it is not always the color itself that makes an impact, but the users’ interpretation of the correctness of the association between the color and the brand using it.

So, what does this mean for financial advisers when deciding on their branding color?

Get a professional opinion. Find a company that is well versed in the psychology of colors and is on top of current trends.

Get a second opinion. Ask family, friends and trusted professionals. Some people may feel differently about certain colors, but there will be a general opinion about the suitability and feel of the color scheme as a whole.

Go with your instincts. It all comes down to the fact that this is your business and it should reflect you and appeal to the appropriate feeling associated with your brand.

Color is an important part of design and a vital aspect of the perception of your overall brand. The feelings that colors communicate must match the personality, story and purpose of the brand.

 

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