Whether we realize it or not, colour DOES play a part in human behaviour and emotion. According to research, colour has significant impact on a potential buyer's first impression and using colour strategically for your brand identity can determine how your audience will perceive your business.
A perfect example of colour and its emotional connection is my own recent experience grocery shopping. At my local drugstore's self-checkout, the Thank You graphic popped up in flashing red on the screen. I immediately reacted negatively, thinking that my payment card didn't go through properly or there was something wrong with their computer system. Red is a commanding colour and can be associated with warning signage (ex. STOP or DANGER) so naturally, I felt alarmed. This experience is an ideal example how to carefully consider colour and how its effect on potential customers.
In the brand development process with a client, I choose palettes based on this premise through the use of an industry analysis and moodboard. Also, knowing your competitors' own branding colours and using distinct palettes to set yourself apart can better reach your target market.
For my own personal brand identity, after assessing my competitors, strengths and goals, I selected a more natural jewel tone palette that conveys my down-to-earth approach with clients.
Considering these factors discussed above and how you want your audience to feel about your business can lead to a building a successful brand. Your brand identity colours are a visual extension of your unique strengths and can be a key factor in establishing trust with your audience.