02 Nov Logos and the Psychology of Finance
One of the mistakes that many business make is that they are under the assumption that a logo has little to do with the success of their overall operations. In fact, nothing could be further from the truth. This is particularly relevant in the world of finance where we have witnessed a veritable explosion in the number of companies within a growing marketplace. It needs to be appreciated that there is a very real psychology behind logo design. Should this be understood, a financial enterprise can appear more attractive, transparent and it will undoubtedly draw a more robust customer base. So, what are some aspects of human psychology that we need to take into account when designing a new financial logo?
One of the most critical areas that should be addressed is the stability of the company. An excellent example of a logo which does just this is the insurance giant Prudential. The “rock” has been associated with strong fundamentals for years; this so-called “bottom line” continues to attract new business. So, this feature should be incorporated in a financial logo. Triangles are effective at conveying this; their wide base leading to the pinnacle of success. Bold and blocky letters are similarly desirable, as they will imbue a sense of trust through stability.
Strength will serve little purpose should the customer feel that the company does not care about its clientele. People need to feel as if a financial company is helping to make things easier, not simply concerned with profit. One way to silently flavour a design with this sentiment is by using rounded edges and curves in a logo. This will be psychologically associated with flexibility and compromise. Placing a logo in the centre of a circle or oval will serve a similar purpose. The main idea to remember is that any branding needs to mirror a human aspect.
The Use of Colour
Although some companies prefer to remain in the black and white era, a growing number are choosing to add a bit of colour into their logos. Not only will this approach help a design stand out, but certain hues will naturally convey specific emotions. Therefore, it should be no surprise that green is by far the most popular choice in the world of finance. Blue is also recommended, for it will provide a sense of tranquility and understanding. Soothing colours are ideal, but it is highly recommended to stay away from reds, yellows and oranges (the mind associates these with alarm and danger).
Above all, it is important to understand that many of the associations customers will make with a logo will take place on the semi-conscious or even the subconscious level. Subtleties in design can go a long way in developing a very specific “personality” to the company without ever having to say a word. These simple suggestions are easy to employ and can have some very real results in a surprisingly short amount of time.