The Role Color in Advertising Plays in Credit Card Marketing Strategies

What is color theory? How is it used in design and credit card marketing? And how does it influence customers, particularly when it comes to share of wallet? Let’s take a closer look.

Color Theory Facts

Red: passion. Blue: security. Gold: luxury. Colors can convey an array of meanings and evoke a range of emotions, which is why they’re frequently utilized to influence consumer behaviors. According to Interaction Design Foundation, “Color theory is the collection of rules and guidelines which designers use to communicate with users through appealing color schemes in visual interfaces.”

In other words, those hues in a particular logo weren’t chosen at random — they were specifically selected through color theory branding and the thoughtful consideration of color psychology.

If you want to communicate the right message to your consumers, you need more than the right words — you need the right combination of colors.

Why is Color Theory Important?

The colors a brand chooses are paramount to reaching the intended audience. Imbuing your brand with joy? Choose yellow. Looking for a way to connote wisdom and ambition? Choose purple. If you want to encourage connection, choose green. Whether it’s an elemental palette or a luxury brand color palette, every hue carries meaning and a message.

Warmer hues such as red and orange can create excitement and a sense of urgency — think Target, Coca-Cola, and an array of fast-food restaurants. Cooler colors, including greens and blues, can inspire serenity, calm, and even trust.

Color Theory in Advertising for Financial Institutions

Since entrusting one’s money to a bank or a credit union is an inherently emotional experience, many financial institutions embrace cooler hues when choosing brand colors due to their emotional resonance. These institutions want to do everything they can to ensure their customers that they made the best decision for themselves, their families, and their futures. And that all starts with something as seemingly simple as a calming color that conveys security.

Color Theory Branding in Credit Card Marketing Strategies

Close your eyes and picture a credit card. Whether it’s inside your wallet or featured in credit card advertisements, it’s often a cool color, particularly a shade of blue. The use of cooler colors to elicit confidence in financial institutions doesn’t stop at logos and building signage — it extends to products, particularly credit cards.

A well-designed credit card should be visually appealing, with typography, graphics, and layout blending seamlessly and cohesively. But when it comes to consumer usage, color may be a determining factor. Those subtle nods to safety and trust that cooler shades express could mean the difference between occasional use and favorite card status for everyday purchases. When consumers feel a positive emotional connection to their credit card, they’re more likely to use it regularly — as well as remain loyal to the issuer’s brand and recommend the card to others.

Luxury Brand Colors in Credit card Marketing

While credit cards in cooler shades are most frequently utilized, they’re not the only ones represented. Some consumers gravitate toward metal cards in gold, platinum, and black for the same reasons others gravitate toward blues: the emotional resonance. A luxury brand color palette conveys status and prestige, allowing the user to feel valued — and valuable. These cards can convey a dignified pride about their stage in life and can serve as a reminder of what they’ve accomplished to get there.

Other consumers may be drawn to warmer-hued cards that communicate enthusiasm and energy, like Bank of America or Target’s RedCard™. The bold colors may appeal to consumers who enjoy standing out from the pack, just like their cards do.

And some consumers may embrace co-branded cards where color plays less of a role. These cards allow them to display their affinity for everything from travel — Delta SkyMiles_® American Express — to sports — New York Yankees Mastercard_® — while racking up rewards and perks for their preferred brands.

The Role Color Theory Branding Plays in Share of Wallet

Investopedia defines share of wallet as “the dollar amount an average customer regularly devotes to a particular brand rather than to competing brands in the same category.”

When it comes to credit cards, share of wallet refers to the proportion of a customer’s total credit card spending — and how much is allocated to a particular card. When a consumer has multiple credit cards, they may use different cards for different things — everyday purchases on one, bills on another, travel on a third — depending on factors such as rewards programs and interest rates.

The goal of credit card brands: clinch that top of wallet position.

A variety of factors play a role in which credit card gets the most use. One of the largest factors is the value that credit card brings to users, such as rewards programs, cashback, and APR.

When evaluating the share of wallet data, credit card companies can tailor their offerings, improve customer experiences, and employ credit card marketing analytics to maximize their market share within the credit card industry.

They also need to know their brand and their target audience — and understand that utilizing colors that resonate emotionally with consumers can give them an edge.

Learn more about our omnichannel approach to financial services marketing.

About Pathfinders

Pathfinders is known for its expertise in financial services, social media marketing, and award-winning, multichannel campaigns. We take pride in creating innovative approaches to branding and advertising that lead clients like PayPal, Fifth Third Bank, and Bread Financial to sustained growth.