Neuromarketing is finally gaining some popularity and has taken the world by storm. More organizations and companies are utilizing the science of neuromarketing to enhance their marketing experience. Despite the attention of it gathers, neuroscience marketing is still a relatively unknown term among the majority of individuals.
As such, more than 70% of the world’s population especially business owners do not know what neuro-marketing is and how to utilize it effectively.
In simple terms, neuromarketing is an advanced form of marketing which involves studying the brain’s response to advertising and branding and getting a better response by making adjustments base on research data. With this information, companies and business organization discover why customers act the way they do and what part of the brain is responsible for such behavior.
Despite the procedures involved in Neuro-marketing been sophisticated, they produce a better result. It’s highly efficient in determining customer’s preferences for brands and products. As such, this data comes handy in making the adjustment to meet your customer’s taste.
However, this method isn’t meant to brainwash but rather hack into the mind of the customer. Like every marketing strategy, the aim of neuromarketing is to create a positive impact in the mind of the customer.
There are various means of using neuromarketing to maximize efficiency, in this article, we will be outlining its role in some marketing activity.
Customers certainly do lie, but the statistics do not. Even if customers are inclined to deny certain preference, they may struggle to relate this with their subconscious reasoning. As such, not all Ads increase sales and neither does it guarantee engagement.
Fortunately, this new marketing strategy can predict the effectiveness and performance of your ads and also provides better insight into optimizing.
Neuromarketing research ensures you save your time and money by launching effective campaigns. Obviously, when a brand launches an advertising campaign, they want to see results without having their budget go down the drain.
Neuro-marketing, therefore, leverages on brain activity and monitoring individuals behavior towards ads using methods such as eye tracking, and facial emotional encoding to know what customers really think when they see ads.
This method is sure expensive but also cut down losses. You will discover what works and doesn’t as well as d your campaign’s strength and weakness. Using all the information gathered, you’re rest assured of getting results from any ads launched.
Shopper marketing is simply marketing techniques designed to convert shoppers into a buyer, converting cold leads to hot ravaging buyers who are at the mercy of your product. However, with the intensity of competition, it’s increasingly hard to capture shopper’s attention before advancing to sales.
With neuromarketing, this process is becoming less stressful. Using research data, a detailed scientific understanding of an individual’s brain is achieved. As such, it’s easier to market to them in a way that connects with their psychology and forces them to make a sales decision.
From numerous research conducted, it’s been discovered that most sales decision are made with the subconscious area of the brain. In fact, the subconscious mind is often scanning for stimuli which decides if he wants the product or not.
From most sales observations, buyers respond to benefits more than features. As such, marketing decision is made base on what the shopper stand to gain. However, a term is known as “buyers’ trance” is so powerful that a shopper buys a product even when it isn’t useful.
Only later do the conscious mind discover buying the product was actually a total waste of time. To plant these desire retailers are left with no option than to manually trigger those emotional responses which will influence a buying decision.
Neuromarketing science revolutionizes the whole concept of marketing by tapping into the subconscious mind of buyers to discover what stimulates their emotion as well as capture their attention.
When first exposed to a brand, the mind is likely to create a memory for that exposure. As such, the memory connects to various elements of advertisement such as products and images related to a specific brand. Whatever element that are stored, they are assembled together to form the brands’ memory.
Whenever exposed to the brand again, the memory stored is updated and connections may be established between the brand memory and other memory patterns. As this event continues to unfold, the brands’ image is shaped in the memory and the meaning of the brand expands as well.
This process naturally takes place in the mind. Similar to how marketers struggle to identify what triggers buyer purchase decision, they also want to create a means of connecting brand memory with values and emotion. However, through marketing initiatives, sellers are able to measure various forms of recall.
If consumers can recall their previous exposure to the brand, a connection is formed but if otherwise, it’s assumed that the buyer has failed to connect with previous brand memory making the whole marketing initiative useless.
Using neuromarketing techniques, brand memories can somewhat be connected to other memory patterns which initiate a recall.
Setting a price for a product can be really tricky. Neuromarketing research explains why sellers will rather fix the price of a product at $999 rather than a rounded figure. This is because complex figures stress the brain, thereby convincing it that the more complex figure is somehow more logical.
It turns out that neuromarketing is effective in all areas of sales. They’re also utilized in determining various website layers and how they should be desired for proper conversion. Some elements which have been taken into consideration include colors, layouts, font size, and headings.
Findings reveal that horizontal layouts are less effective than verticals. As such they’re less likely to engage the brain.
There’s no doubt that Neuro-marketing is highly sophisticated and technical. However, companies and organizations who have utilized this strategy have seen results. Despite all it promises, its cost makes it a really expensive acquisition for small business owners.