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It goes without saying that a company logo is something that should be carefully designed.
Although it is a common belief that in the finance industry, visual details and representations are not exactly the most important part of the business, it is actually quite the opposite.
Namely, trust, reliability, and success are critical in this line of work, and it is essential that your logo design incorporates all these characteristics and attract customers.
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.
There are some guidelines to be followed if you want your logo to stand out and still not be too elaborate or over the top.
1 – The colour of money
Never does a colour play such a significant role as in the logo of a financial institution.
Almost all of the banks mentioned above and financial services have opted for blue as their primary colour.
This is by no means a coincidence, but a science-based decision.
Namely, 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.
It’s crucial to know your audience before you start designing your logo, and bear in mind who your ideal customer is.
2 – Shapes and sizes
We are still in the realm of subconscious triggers and perceptions, so it is important to know what an individual form means, psychologically speaking.
Square shapes are used to convey a certain feeling of solidity and stability.
Again, American Express is a perfect example of this.
On the other hand, triangles are used to represent innovation and energy, so HSBC alludes to those characteristics of the corporation.
Round shapes symbolise perfection, unity, and community, so in certain cases, this could also be a good choice for your logo.
Protection is another layer of meaning that circles offer, and although Audi or BMW do not belong to the finance industry, it is clear that they want to send this message.
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.
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.
3 – Simplicity
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.
Many times, people try to incorporate way too many things in their logo, and this makes it less memorable and more confusing.
Remember, you do not seek to tell your whole brand narrative using symbols, and turn it into a string of hieroglyphs.
Instead of that, encompassing your brand’s values and image into a simple logo can be achieved through associations and psychological tricks.
Simple logos are much more effective, and they are easier to redesign.
As we have mentioned, a logo has to be memorable, and you will admit that when you see a swoosh or an apple, you instantly think of Nike or Apple.
Undoubtedly, this level of recognizability is hard to achieve in the finance industry, but it is worth trying.
4 – Identify your brand
The identity of your company is of critical importance, especially in such a competitive industry such as the finance.
It would be impossible to remember businesses and distinguish them without well-crafted logos.
It will not be an overstatement if we say that people tend to forget logos of financial services quickly, and only a couple of them are easily identified and memorable.
The thing is that no matter how good your mortgage rates are or how affordable your dealer bonds are, your customers will be more likely to remember your logo if it is unique and recognisable.
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.
Many companies do not understand that investing in their logo is equally important as investing in any other part of their business, and they tend to resort to some half-baked solutions that can only damage their reputation.
The thing is that you should be very careful when it comes to your brand identity as this is not the moment to be stingy.
You can cut your expenses in some other departments because your logo has to be top-notch.
5 – Emotional connections
No matter how strange this may sound, but you need to humanise your brand and bring it closer to your customers, especially bearing in mind that banks and similar financial institutions tend to seem distant and cold.
Establishing strong emotional connections with your clients is essential for your business, and branding is one of the ways to do that.
One might wonder what human emotions have to do with the finance industry.
Those already mentioned trust, loyalty, and stability can be established only if you strike a chord with your audience, and a good logo can be extremely helpful in this regard.
Maintaining and nourishing long-time relationships with your customers is of critical importance, especially in the business dealing with the money and the finance.
Loyal customers are 7.8 times more likely to forgive a mistake, while they are 16.8 times more likely to recommend a bank 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.
Let’s not underestimate the power of aesthetic appeal and the role it plays in encouraging the feeling of trust and reliability, even though it might seem a bit superficial at first sight.
Would you believe your money matters to a bank with a shabby, tacky, or poorly-designed logo?
We thought so.
6 – Boost your visibility
A logo can be of vital importance for increasing visibility and awareness of your brand.
If you have a nice, sleek logo, it will be easier for your prospects to remember your company and form positive associations.
For example, if your bank has a safe and affordable loan offer, potential customers who see your commercial or ad will be more likely to remember a well-designed logo that stands out, even after they forget the offer itself.
In other words, to create a balanced, comprehensive marketing strategy, you need to have an outstanding logo that your target audience will find attractive and visually appealing.
Paired with a catchy slogan, it can help you expand your reach and encourage your potential customers to select one of the services you provide.
However, your logo should be relatable and if you are not sure in what direction to go, analyse your competitors’ logos and gain insight into the best practices.
This will help you identify some of the do’s and don’ts, and show you the way.
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.