Change Colors, Change Behavior
Rajesh Bagchi, an associate professor of marketing in the Pamplin College of Business at Virginia Tech conducted a study to compare the sales influence of blue vs. red. Bagchi and associate, Amar Cheema from the University of Virginia, studied sales on red websites vs. those on predominantly blue websites, as well as sales within predominantly blue and red retail environments. Very interestingly, their research found that the likelihood of a purchase is lower with red backgrounds than blue ones. When you compare sales of Walmart, a blue brand, with Target, a very red brand, you have to wonder:
- Walmart revenue in 2014: $467.30 billion
- Target revenue in 2014: $71.28 billion
Could it be that too much red in a retail setting makes us energetic and thus anxious to leave — like it supposedly does in restaurants, while blue, as suggested by one restaurant study, makes us relax and linger longer? I know which of these two big box powerhouses I linger in longer and purchase more from. And what’s most interesting is that consciously I prefer the one I linger in the least!
Beyond influencing food consumption and shopping behavior, colors play other important roles in other business settings. To start, colors are thought to influence how we perceive a brand’s attributes and values; which, in turn influence our interest in learning more about a brand or a product, and considering trial or purchase. For example, blue is solid in banking, as it’s the color of trust and intelligence. Green also does well in the financial services industry as, in our country, it represents wealth, money, stability and balance. However, in other countries and cultures, color meanings and influences can change.
Needless to say, choosing which colors are most likely to attract your core consumers, inspire them to engage with your message and hopefully impact shopping behavior among your customers can be nothing short of confusing.
Jeanette McMurtry is a psychology-based marketing expert providing strategy, campaign development, and sales and marketing training to brands in all industries on how to achieve psychological relevance for all aspects of a customer's experience. She is the author of the recently released edition of “Marketing for Dummies” (Fifth Edition, Wiley) and “Big Business Marketing for Small Business Budgets” (McGraw Hill). She is a popular and engaging keynote speaker and workshop instructor on marketing psychology worldwide. Her blog will share insights and tactics for engaging B2B and B2C purchasers' unconscious minds which drive 90 percent of our thoughts, attitudes and behavior, and provide actionable and affordable tips for upping sales and ROI through emotional selling propositions. Her blog will share insights and tactics for engaging consumers' unconscious minds, which drive 90 percent of our thoughts and purchasing attitudes and behavior. She'll explore how color, images and social influences like scarcity, peer pressure and even religion affect consumers' interest in engaging with your brand, your message and buying from you. Reach her at Jeanette@e4marketingco.com.