When Branding a new product or service, you need to have a complex understanding of your customers, know your internal capabilities, and understand the overall market conditions. A great product can fail woefully if the timing of the product is wrong. When you take your time to research into these key concepts before launching your product(s) or service(s), your ROI will not be chattered.
An important step in Business Branding is Predicting how potential customers will react to different design options. Yes names and slogans are very key, many other subtle factors also go into creating a response in your customers, “a response they may not even realize they are having”. One of the unimaginable factors is “Color”. It has a very high effect than many people realize.
All ages and walks of life share fascinating similarities in their way of thinking, and their reaction to certain things. Psychology, science, economics, marketing, and advertising have set out to find and explain these commonalities.
We would have explained why these similarities occur If we were scientists, but as business branding experts, we only need to know that they exist to benefit from them. Colors stir up similar responses in many people, whether due to nature or nurture. It helps memories form and last, so applying this knowledge to your business can help you brand it in the most effective way.
Branding your business goes beyond just using words, but finding the perfect color that encourages your customers to feel and live with that message for themselves. According to some studies, color can increase brand recognition by 80 percent. Okay, consider that signature Target shade of green splashed all over your storefronts, displays and print ads in an almost comical way. Its uniformity helps to link the many memories you have of the brand. So the second you spot an actor decked out in that signature hue, your mind is filled with a multitude of Target messages.
The former UPS slogan “What can brown do for you?” is another example of an effective color branding. Hearing that slogan on the radio brings together the image of the logo and the trucks in the mind of a consumer, in essence recreating the experience of what they have seen before about UPS, whether a print ad or commercial. So if colors are very much important to your brand, how do you choose the right ones? Here’s where research comes into play.
At Indexiti, we focus on the research necessary to pull together solid marketing plans, so as to identify the appropriate messaging and delivery channels to reach your core audience, as well as to identify potential growth niche markets.