Color Psychology in Marketing and Its Importance in Driving Sales

Research shows that the proper use of color increases brand recognition by 80%. It also raises the visual appearance by 93%. A further 85% of consumers buy because of color.

In the case of affordability, the visual appeal of an item is the major influence on a consumer’s buying decision. “In fact, the color, make, look and feel of a product affects 93% of the buying decision. This is followed by texture which affects 6% of the buying decision and sounds and smell which affect 1% of the buying decision. Once a consumer starts walking towards an item that has his or her favorite color, the major part of the purchasing decision has already been made. When the four: color, design/texture, and smell are combined, the buying decision becomes powerful,” wrote colorpsychology.org.

Color psychology is an area of research that looks at how color influences our behavior and decision-making. When used in marketing, for example, different colors can impact the way buyers perceive a brand in ways that aren’t always apparent, such as how certain hues can increase appetite.

Color is too dependent on personal experiences to be universally translated to specific feelings. There are, however, broader messaging patterns to be found in color perceptions.

In a study titled “Impact of color on marketing,” researchers found that up to 90% of snap judgments made about products can be based on color alone, depending on the product. Regarding the role that color plays in branding, results from another study show that the relationship between brands and color hinges on the perceived appropriateness of the color being used for the particular brand (does the color “fit” what is being sold?).

source: Marketing Digital Blog

The study Exciting Red and Competent Blue also confirms that purchasing intent is greatly affected by colors due to the impact they have on how a brand is perceived. This means that colors influence how consumers view the “personality” of the brand in question.

When it comes to picking the “right” color, research has found that predicting consumer reaction to color appropriateness in relation to the product is far more important than the individual color itself.

Psychologist and Stanford professor Jennifer Aaker found in her study “Dimensions of Brand Personality” that there are five core dimensions that play a role in a brand’s personality: sincerity, excitement, competence, sophistication and ruggedness.

“Brands can sometimes cross between two traits, but they are mostly dominated by one. While certain colors do broadly align with specific traits (e.g., brown with ruggedness, purple with sophistication, and red with excitement), nearly every academic study on colors and branding will tell you that it’s far more important for colors to support the personality you want to portray instead of trying to align with stereotypical color associations,” wrote helpscout.net.

At the same time there are difference between how men and women perceive them. Additional research in studies on color perception and color preferences show that when it comes to shades, tints and hues men seem to prefer bold colors while women prefer softer colors. Also, men were more likely to select shades of colors as their favorites (colors with black added), whereas women were more receptive to tints of colors (colors with white added).

More pieces of information on the subjects you can find here and here.

10 Things You Might Not Know About Gary Vaynerchuk

We are thrilled to announce that Gary Vaynerchuk is coming to BRAND MINDS 2020!

BRAND MINDS is The Central and European Business Summit taking place in Bucharest, Romania.

Here are 10 things you might not know about Gary Vaynerchuk

American serial entrepreneur, four-time New York Times bestselling author, speaker and internationally recognized internet personality. First known as a leading wine critic who grew his family’s wine business from $3 million to $60 million, Vaynerchuk is now best known as a digital marketing and social-media pioneer at the helm of New York-based VaynerMedia and VaynerX.  Angel investor or advisor for the likes of Uber, Birchbox, Snapchat, Facebook, Twitter and Tumblr, he is a regular keynote speaker at global entrepreneurship and technology conferences.

1.No matter the amount of success and money he has at this point he is still working 13-15 hours a day. 

2.  He is into every aspect of his life 100 %, ready to give 51 % of the value to the other person.

3. He tries to figure out what you are going to do, before you do it

4. He’s passionate with the New York Jets. His dream as a child was to become the owner of the New York Jets and it still is.

5. He’s an HR Driven CEO. He is very interested in his employees’ ideas and opinions and their feedback on everyday work.  He uses empathy and tries to understand “why”. 

6. He believes it’s in his DNA to be an entrepreneur. It’s the life he breaths and loves to, every day. 

7. He doesn’t care about others’ opinion on him, as he knows very well who he is. “I put zero weight into anyone’s opinion about me because I know exactly who I am. Can you say the same?”, quotes medium.com

8. He believes that a person’s friends and family can influence their success. “Maybe if you got rid of one friend or spent a lot less time with one friend who’s a real drag and a negative force and added a positive person in your office … If you switched it from 80 days hanging out with your negative friend and one day with your office acquaintance who’s super positive, to four days with your negative friend and 12 with this new person. I’ve physically watched I mentor in my organizations have a totally different life on that thesis……I think that people are keeping very negative people around them and if they aspire to change their situation, it’s imperative to audit the seven to 10 people who are around you,” Vaynerchuk told Business Insider.

9. He is a Judge and Adviser at the Apple’s show ” Planet of the Apps“, alongside Jessica Alba, Gwyneth Paltrow, Will I.AM.  More on the program you can read here.

10.  In #AskGaryVee he cuts straight to the heart of the question and what it says about the person asking the question — their motivations, their fundamental assumptions and what their real question should actually be.

Are you a #worldchanger?

Come to BRAND MINDS 2020: Gary Vaynerchuk, Malcolm Gladwell, Martin Lindstrom, Michio Kaku, Tara Westover and host Richard Quest

Top traits that make a female a successful entrepreneur

Even in minority when it comes to their numbers, compared to the men who run their own businesses or are top managers, the women possess a series of qualities that make them very suited for the position and, sometimes, even better, than the men, in some fields of activity.

According to a  KPMG study, 83 percent of the female entrepreneurs and business owners surveyed think leadership is the most critical trait for a business founder or CEO to possess, while 82 percent think it’s confidence.

“Building a company – and maintaining its success – takes confidence, determination and the ability to take risks. Women entrepreneurs who are able to take these traits and combine them with a strategic vision for their business will not only capitalize on today’s climate of disruption, but they will be the disruptors themselves,” Lee Anne Sciambra, managing partner of KPMG LLP’s New Orleans office and leader of the Houston Business Unit Private Markets Group,  said in a statement, quoted by businessnewsdaily.com.

Other qualities that we believe are important are:

Integrity. One doesn’t need to leave victims in her path to be victorious. You don’t need to step on others to step to the next level. Integrity must be the very core of your character. Always put honor first and live by your convictions. As you gain respect and trust, your company will grow. People seek to do business with those they trust.

Perseverance & persistence.  They work hand and hand with the power never to give up, no matter how big are the challenges you are confronted with. Women are used to overcoming obstacles everyday, from mentality to perception ones, and tend in general to have a big inner strength. They know how to use the adversity to their advantage.

Being strong–minded & confident in her power. Strong minded doesn’t mean imply being rude, conceited or destructive. On the contrary, a strong-minded woman displays confidence. According to entrepreneur.com, “when you’re strong minded, you’re empowered, possess a healthy self image and take responsibility for your life. The entrepreneurial spirit, by its very nature, requires us to consider possibilities that most aren’t brave enough to”.

Confidence is essential in winning clients and building a profitable business. A person that shows confidence in herself is reliable and wins people’s respect, earns their trust and gains a solid reputation. As first impressions are always really important is essential to show you possess that skill, especially in new business meetings.

Ambition. This is one skill that no person can deny it’s usually equal to “girl power”. Every good leader is known for being really passionate and ambitious about what he / she is doing and showing day feature each time. As Katy Cowan was writing for theguardian,com,“you have to really want something if you’re going to succeed. And you should never settle for second best. Always strive to push forward. Always aim for the top”.

Courage. One cannot start the path of the entrepreneurial road without having at least a portion of courage on the back. Diving into the unknown, facing all the possible problems and difficulties takes a lot of force of character and power. Not everybody can be an entrepreneur, let alone a successful one.

Being determined and focused. Never lose the sight of your business goal. They should be committed your short- and long-term goals to writing, recording how and when you’ll achieve them. Post your goals in plain sight and review them often. Record the reward when the goal is attained. Remember that you can’t hit a mark you can’t see, and continual success demands a plan.

Hard work. Women are famous for putting a lot of work in everything they do, for being perfectionist, both in the professional and personal life. Success cannot be achieved without sacrifices and a lot of time and energy invested. They know it and are not afraid to show it.

Showing compassion. We are not Robots and thank God for that. Emotions make us who we really are and showing your human side is essential if you aspire to being a leader. Moreover, charity and compassion allow you to make a difference in the lives of others, a quality that is more and more searched for today. A woman with a compassionate heart can achieve a great deal of influence and positive image that will help her business thrive.