Your choice of color is important because it can give your branding and your messaging a certain feel or emotion. Matching the correct color with a carefully selected font can make your branding even more impactful. You only need to look at the world around you to see colors and how they can effect your and your emotions. 

There is a lot written about color theory. Here are the basics:

Perceived as trustworthy. It can convey loyalty, wisdom, knowledge, confidence, intelligence, cleanliness, tranquility and sincerity.

Associated with luxury and creativity.  It can convey wealth, wisdom, dignity, independence, and mystery.

Evokes passion and is bold.  It can convey energy, strength, danger, power, courage, passion, love, and determination.

Portrays energy and brightness  It can convey enthusiasm, happiness, creativity, success, safety, encouragement and playfulness.

Grabs your attention and is happy.  It can convey joy, energy, positivity, spontaneity, cheerfulness and warmth.

Relates to eco friendly and fresh.  It can convey growth, harmony, freshness, stability, healing and rest.

Gives a sense of sophistication and authority.  It can convey power, prestige, elegance, formality, strength and authority.

Suggests simplicity and innocence.  It can convey light, goodness, innocence, and safety.

Color combinations can help convey a different set of emotions too.