You Need to Be as Strategic in Creating Your Brand as You Are in Creating Your Financial Product or Service!

Trustworthy Does Not Mean Boring

There is a common misconception within many fintech, finance and technology teams that their visual representation is not the most important part of the business.  However, this is never the case!  Yes, of course trust, reliability, and success are crucial in these industry pillars, yet it is essential that your logo design incorporates all these characteristics and attract customers and your branding showcases your personality and your target audience emotionally connects with you.

A strong, memorable logo is among the essential marketing elements, and it can have a great impact on your brand and how your customers and prospects perceive it.  Moreover, it can significantly influence their first impression about your company, and that is why you should do your best to represent yourself in the most favourable light.

Let’s be honest and say that the food, fashion or sports industry have an easier job regarding branding and logo design as they can use all kinds of symbols, fonts, and colours, while corporate businesses are limited to conservative solutions.  This does not mean that you will not be able to have an attractive logo; it just means that you will have to hire professionals to create it.

Good branding inspires strong consumer loyalty to a brand.  Loyal customers are 7.8 times more likely to forgive a mistake, while they are 16.8 times more likely to recommend a company that offers them an excellent customer service.  If all this is aligned with a well-designed, great logo, you can be sure that your clients will be happy to spread the word.

The Little Things Can Get You Noticed

Take Monzo for example.  Alongside Revolut, Monzo are one of the fastest rising newcomers to the UK’s banking scene, and show no signs of slowing down. On a casual first impression their branding and website are fairly unassuming, unremarkable even.  However where they truly impress is their card branding; the most visible and well used element of their brand, which does not include physical offices or branches with clear branding.

That’s what earns Monzo a spot on our list of the best finance and financial service brands.  Their orange bank card has become somewhat of a fashion statement, in the same vein as the AMEX Black card, showcasing the holder as a forward-thinking savvy saver.  Their bright bank cards have grabbed people’s attention, and it’s a great strategy to differentiate from other more corporate looking startup banks.

The Colours of Money

Speaking of Orange and Black cards, never does a colour play such a significant role as in the logo of a financial or fintech institution.

Although you will not exactly be allowed to unleash your creativity, this does not mean that your logo design should be sterile, bland, and boring.  It’s true that other industries maybe have more options when it comes to their logos, but there are numerous memorable and catchy logos in the finance industry, too.

American Express, Merrill Lynch, Goldman Sachs, or JPMorgan Chase, are among the first that come to mind.  Almost all of these banks and financial services have opted for blue as their primary colour. This is by no means a coincidence, but a science-based decision.  According to psychology, blue is the colour that instils a kind of serenity and reliability in people.  It’s conservative and serious, but then again, this is exactly the approach that most people would prefer when it comes to handling their finances.  If you want to play it safe, you should always opt for this colour, as it has been described as non-invasive, productive, and authoritative.

That’s the reason why many corporate businesses select this colour for their logos and offices.  Even in politics, blue is widely used, so democratic parties all around the world have blue logos.  Even social media platforms recognised this colour as an integral part of their branding efforts, so Facebook, Twitter, and LinkedIn have recognisable blue stylised fonts to remind you that they are robust and reliable.

On the other hand, although not frequently used, red is another colour that some of the major financial corporations selected. NatWest and HSBC Bank chose red for their logos as it symbolises strength and vitality.

As you can see, colours subconsciously convey much more than it meets the eye, so make sure to think about what exactly you want to communicate to your customers and what kind of message you want to send them.

Enjoy The Simple Things In Life

All good logo designs usually have one thing in common — they are simple.

Maybe some companies have the luxury of creating an elaborate logo, but in the finance industry, simplicity is one of the key factors.

This means that your logo design should be precise, clean, and decluttered.  If we are talking about the size, it is essential to create a logo that will remain identifiable no matter how big or small it is.  If we are talking about the popularity of various shapes, we can say that a rectangle is the most popular as almost 50% of companies chose it for their logos, while 22% opted for a square, and 20% used a circle.

Many times, people try to incorporate way too many things in their logo, and this makes it less memorable and more confusing.  A logo has to be memorable…when you see a swoosh or an apple, you instantly think of Nike or Apple for instance.  Sure, this level of recognizability is hard to achieve in the finance industry, but we should try at least!

Final Thought

It’s crucial to know your audience before you start designing your logo, and bear in mind who your ideal customer is.  We are still in the realm of subconscious triggers and perceptions, so it is important to know what an individual form means, psychologically speaking.

Simple logos are much more effective, and they are easier to redesign, yet remember it would be impossible to connect with businesses and distinguish them from competitors without a well-crafted logo.

You need to humanise your brand and bring it closer to your customers, as establishing strong emotional connections with your clients is essential for your business, and branding is one of the best ways to achieve this…would you leave your money matters to a brand with a poorly designed logo?

About HiveMind

Hivemind is a leading creative Marketing Consultancy based in Dubai and Manchester, providing PR and Marketing Consultancy, Creative Branding Design, Website and Mobile Development as well as Social Media and Digital Marketing. Our tactical, creative and honest advice and support make sense to our clients.

Our team of experts go beyond the ‘norm’ of traditional methods and standard marketing trends to create and produce innovative yet effective strategies and campaigns.  We are passionate and knowledgeable and can achieve your business targets and communication goals in a world of opportunity.