Why are brand colors important?

Research has shown that around 85% of the consumers decide about a purchase after careful consideration of the color. Many make their choices according to visual appearance. Therefore, it is no secret that your brand colors may influence the demand for your products or services.
What different colors say about your brand?
Your brand colors are the first impression you make on potential customers. While choosing your brand colors, it is essential to know what commonly used brand colors may imply.
Red is associated with danger or energy. Energy drinks like Red Bull use red to create a sense of excitement.
Yellow is another common color used by food chains - case in point, McDonald's. Yellow portrays optimism and is associated with friendliness.
Pink is a feminine color - this color may be commonly used with feminine hygiene or cosmetic products.
Green invokes a feeling of freshness and sustainability. Because of this, Subway uses it for its branding.
Black is a color commonly associated with sophistication and elegance. Although it can seem sorrowful in some cases, Black is used for luxurious brands.
There is a large variety of other commonly used colors as well. Different hues and tints can also portray different things. It is vital to research and decide on what colors you think can show your brand promise satisfactorily.
How to pick the right colors?
Step 1: Understand the meaning behind colors
Some colors have already been elaborated upon above. However, further research, is vital. Think about what you are offering to your customers. Is it a luxury product? Who is the target audience? Consult your business plan for details and make a list of appropriate colors.
Step 2: Consider competitors' colors
Research what colors are common in the target market. What colors are your competitors using, and why do they seem effective? As important as it is to conform to the popular norm, it is also equally crucial to stand out. While your colors should be similar to successful competitors, your brand should not get lost in the sea of the same colors.
Step 3: Create a color palette
By now, you may have an idea of the colors you want to use. There are still a lot of details you will need to sort out. This includes hues, shades, tints, and saturation. Do you want your brand colors to be monochromatic? Will your product stand out bright among other dull colors?
Step 4: Shortlist
Once you have several variations about which colors you want to use, experiment with them. Your brand colors will appear in the logo, websites, emails, ads, stores, uniforms, and many other places. Experiment printing the colors on business cards, and scratch the ones that don't fit your criteria.
Step 5: The final decision
Now that you have a few top contenders get feedback from friends and family. What emotion do these particular colors invoke in them? Would they purchase these products? Does it look attractive? Consider their opinions, but be sure to prioritize your opinion as well. In the end, the message you want to portray through your brand is what will likely reach the customers!