Friday, 26 August 2016

The psychology of colours in marketing

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Do you know that colors are ubiquitous and a very vital source of information for all? Do you know that people usually make up their minds in about 90 seconds of first seeing people or products and almost 80% of the decision is based on their assessment of colors associated with what they’re looking at? Prudent use of colors can significantly affect moods and feelings and therefore people’s attitude towards a range of products as well. And that is one of the biggest reason that you will see marketers making use colors in thousands of innovative ways.

Let’s discuss a controversial and yet interesting aspects of marketing… the psychology of color. Although it is widely believed and researched that elements like individual preferences, personal experiences, backgrounds, cultural differences, upbringings, contexts etc. often create ambiguity about the effect specific colors have on individuals. Marketers understand that colours play a very significant role in forming attitudes and influencing moods and feelings (which happen to be unstable by nature).

The majority of the marketing sector believes that human responses to colors are somewhat stable over a geographical location and therefore marketing managers use these interpretations to market and promote their brands and products well. Colour can actually define the way a consumer might act therefore when designing marketing strategies, packaging a product, creating new fashion trends and designing a website, colours are kept according to their enticing value.

Nobody can ignore the importance of colours, especially marketers. As a marketer, it is important to know that marketing and colour go hand in hand. The use of the right colour in designing marketing strategies, designing ads, promotions, business stationery or products is highly important because it can either send a positive or negative message. The colour has the power to create and deliver good or bad subconscious messages which can then affect the perception the consumers have about a business or product. It is therefore essential that marketers value colours and design marketing strategies keeping in mind the psychology of colours.

It is a well-known fact that most consumers buy products or services based on emotions, and then justify whatever they have purchased with logic. Marketers, brand managers and advertisers should devise their strategies in such a way that it creates a certain mood, emotion in order to persuade customers into the purchase. Whatever image that you need your business to reflect can be imparted through the use of bright colours.
It is important that marketers remember the fact that colours that are used in marketing campaigns are responsible for grabbing the attention of prospective buyers initially. There is no concept of a wrong or a right colour. Whatever colour you think is the most appropriate for your message, based on the universal denoting of colours, should be chosen for the specific marketing campaign. If you choose the right color, chances are high your turnover will be more than or as much as you were expecting

Friday, 12 August 2016

Facebook Algorithm is changing again

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Well, no one wants to see dead stories circulating on our Facebook feed! It seems as if Facebook is just trying to play with what we see and what we don’t on our newsfeed. It can become a little fuzzy but the ranking of our stories is according to an algorithm that changes every now and then. It encourages exposure for a lot of users but chances differ for stories that are posted implicitly and explicitly. Facebook’s algorithm is not a paradigm but a binary code that creates ripple effects all over your feed. No one can forget the constant game requests and silly updates that flooded your notifications, annoying you enough to log out of Facebook.

Just recently, Facebook set forth an announcement on the algorithm update which focuses on lowering the visibility of posts with inadequate content while raising the profiles of significant ones. The update has prioritized what is shown to you, with no more boring posts to scroll through. When we all started off with Facebook, our newsfeed felt like a rabbit hole of unnecessary posts that wouldn’t end. However, the algorithm evolved and changed according to the needs of its users. Everybody wanted to see what their friends are posting but they would only draw their attention if the content was interactive enough. The recent change to the algorithm will act like a filter, through which all the unwanted posts will sieve out.  

The change came with some supercharged features that would help Facebook identify the types of posts you prefer to see on your feed. The different reactions on each post even if it is a like, a comment or a share, influences the probability of that content appearing on the top of your newsfeed.

This update will not influence the reach or referral traffic for the majority of the pages that you follow. However, if you visit a page often you might see some increases in referral traffic, whereas other pages might see some decline. In addition, an algorithm update surfaced in July 2015 which made it easier for users to customize and adjust their news feed settings. These suggestions and preferences were shaped to the users’ interests.

Friends that post tedious and monotonous content can take a back seat and all of the buddies that you interact with can have their posts, comments and likes at the top of your feed. On top of this, Facebook plans to favour video posts more due to the increase in hype for videos. In just one year the number of video posts per person increased to over 75% globally. Recent surveys have shown that this Facebook update lead to, on average, a substantial increase of 6% in engaging people with the stories they wanted to see.

If you plan on engaging with another user or with your target audience, then this update can be a real booster for your content, but only if you provide them with something captivating.

Alejandro Catalan
Current student in the Master of Marketing program at the University of Sydney Business School