How to Increase Your Conversion through Neuromarketing?
Alongside the growth of communications technologies in the age that is big data neuroscience has gained traction in the past decade and is now one of the top research tools used by businesses. The human brain is a vast, complex and amorphous thing and businesses need to know how they function for them to keep ahead of their rivals. The potential of understanding and influencing the decision-making process of consumers via neuroscience is immense and businesses are noting this. This is great neuromarketing to get you started making use of this effective tool to boost your conversion rates.
The purchase choice and how to influence it with neuromarketing
It’s long been known that emotions play a major part in making decisions. Research has proven that 90% of purchase decisions are based on emotion. While rational thinking does play a part in an ultimate purchase, it’s typically emotions that tip the scales. This is the reason why neuromarketing is now so popular. It assists in understanding those thoughts and emotions that go into making a purchase. What is the reason why humans need certain products? Neuromarketing is a way to find out the answer. If a person is contemplating purchasing a service or product then they’ll go through what’s called “the “path to purchase”. The route the customer follows is based on several factors such as the kind of product that they’re looking to purchase as well as the amount of effort necessary to purchase, and the place they are at the end of that “buying cycle”. Therefore, there’s no consensus regarding the steps that comprise the purchase process.
We’ll share our model for the process of buying that considers the various factors.
The buyer’s path to purchase
A typical customer journey includes steps
- Purchase decision
- Development of loyalty
The first step is called the awareness stage, also known as the connection stage. The aim at this point is to make customers aware of your service or product. This is accomplished via advertisements, word-of-mouth or personal experiences.
At this stage at this point, the buyer may not be yet interested in buying the item but they’re aware of the product’s existence. First impressions matter and if the customer does not care about how they look, then they will not proceed to the next step. In addition, the more frequently they come across your product, the more likely they’ll be to be able to recall it if they require it.
When a potential client is aware of the product or service, you’d like them to go to the next stage of curiosity. At this point, the potential customer begins to become attracted to your service or product and would like to know the details about your product or service. They can conduct some research on the internet or ask their friends for suggestions.
This is when you have to grab the attention of your customers and provide them with a reason to purchase your product. The buyer isn’t in the process of buying your product or service but they’re eager to learn more about the product. They may have certain questions, such as “Why do people use this product?”, “How does this product work?”, “What makes it better than other products in the market?”.
The third step is called the evaluation stage or the consideration stage. This is when potential customers realize they require an item or service similar to yours and are presently contemplating the purchase. The consumer begins to weigh the advantages and disadvantages of buying it. This is when the buyer forms a view. They’ll consider their personal needs and desires in addition to any external factors, such as price availability, brand names and more.
In the final stages of the process of making a decision, neuromarketing can be utilized to influence customers by giving more details regarding the service or product or by stimulating their feelings. For example when a person is thinking about buying a car the use of neuromarketing may be to demonstrate how the car makes them feel instead of simply describing the specifications and features. This is a crucial phase since the consumer can choose to buy the item or go on to another one.
The fourth stage is referred to as the decision-making stage. The customer can decide whether or not to purchase the item or service. It is typically dependent on a mix of rational thought and emotion. If the consumer is convinced by the use of strategies for neuromarketing and techniques, it is more probable that they will purchase the purchase. At this point, the customer experience is essential. If the process of purchasing is straightforward The customer has a higher likelihood of purchasing the item. However, when the buying process is complex or time-consuming the buyer may reconsider their decision at the last stage. In addition, if the buyer is satisfied with their experience, they’re more likely to purchase from you later on.
Following the purchase decision stage, there’s the fifth stage, which is known as the post-purchase step. This is the time when the buyer experiences and evaluates the item or service. If they are satisfied with it, they’re likely to leave a favourable review or suggest it to friends and family. However, If they aren’t happy with the service or product, they could not buy from the company in the future. It is crucial to make sure you can ensure that your service or product is in line with the expectations of the client and they are satisfied with it. This is known as developing loyalty.
The brain’s areas are activated in the course of a buying decision
If you’re a marketing professional or you work in the field of marketing, you’ve likely been told about old middle and new brains, and the way we decide to purchase a product. When we make a purchase decision, three main parts of the brain play a role.
- The reptile brain (the “old” brain)
- The limbic Brain (the middle brain)
- The Neocortex (the “new” brain)
The reptile brain is the one responsible for our most basic survival instincts, including the fight or flight response. The brain is activated whenever we see something we like or require. It also plays a role in our “gut feelings” as well as first impressions. Marketing campaigns that are based on fear, for example, fear of not being able to attend (FOMO) are designed to stimulate the brain’s axon.
The limbic brain is the one responsible for our memories and emotions. It’s activated when we notice something we think of as positive emotions like joy and love or excitement. The brain has a role in helping us feel happy about our self-esteem. Advertising campaigns that are focused on positive emotions, like ones that feature happy customers enjoying a certain product and feeling satisfied can trigger the brain’s reward system.
The neocortex plays a role in the rational mind and making decisions. It’s activated when notice something we believe is beneficial to us, like an item that is made well or a well-priced service. This brain part is also in charge of processing information that is new and making sure we comprehend the meaning behind it. Marketing campaigns that are focused on reasoning and logic like ones that demonstrate how product functions or highlight the benefits of a product, are designed to activate this brain area.
In traditional economics consumers make decisions by weighing all the pertinent information or arguments offered by the company, and with the help of their ‘new’ brain (the Neocortex). According to neuroscientific research, however, the purchasing decision is made primarily in our limbic system (the middle one) and the way we make decisions is higher in emotion and more irrational than we’d wish to believe. Our decisions are in response to our feelings and emotions in a non-conscious way which is often without being able to explain why we make the decisions we do.
How do you get to the neocortex to boost the chances of conversion?
To reach the neocortex which is the brain that is responsible for rational thought processes and decision-making, the information needs to traverse the reptilian brain that is responsible for stimulating our attention. After that, it has to enter the limbic system that is responsible for our memories and emotions. To reach the neocortex then, we must develop marketing strategies that are appealing to both limbic and reptilian brains. The brain of reptiles is stimulated by stimuli that draw attention, for example, bizarre or unpredictably photos (either real or created by imagination) vibrant colours and rapid-paced movements. The limbic system works in a way that makes our customers feel emotional. Different people respond differently therefore we must know our customers very well to determine what appeals to their feelings. When we’ve got an interest in limbic and reptilian brains, we can begin engaging the neocortex by presenting arguments and other information. But, the cognitive burden that we put on our customers after we have reached the neocortex needs to be lower.
Complex products require a great deal of information to get through and then pass through the limbic system onto the Neocortex. This is why it’s crucial to convey this information. This can be difficult when it comes to niche industries (like SaaS) where products require certain technical proficiency as well as applying to any market that the company decides to target (for the Spanish-speaking region it’s the time to make contact with Crisol Translation Services, the SaaS experts).
Mirror neurons as well as their effect on consumer behaviour
Mirror neurons comprise a form of neuron which fires when an individual is acting, and also when they observe someone else taking the same action. Mirror neurons may help in creating feelings of sympathy and compassion. The use of these neurons is a successful method of stimulating the limbic system, and consequently, altering the conversion. Studies have shown that activation of mirror neurons may affect consumer behaviour. If you observe another person enjoying a product or service, it stimulates your mirror neurons, making you more inclined to test the product or service for yourself. This is the reason why social media is an effective marketing tool It allows brands to demonstrate to their customers the ways others are taking advantage of their products.
Once we have a better understanding of the mechanisms behind neuromarketing, we can examine some examples of how it could be used to affect conversion.
Businesses can employ neuromarketing to boost website design and create creative assets.
A design that favours the natural manner that which our brains scan a webpage and skim over the text will direct visitors to the CTA that can increase conversion. The bounce rate could also be improved by reducing the cognitive load on our brains by visitors which favours a longer dwell time.
In the course of our Creative Language Conference, for instance, Giulia Tarditi spoke about something closely connected in this regard: different intensities in the way that website users view various parts of a webpage:
Then she explained how her department has approached the localization of all of these texts in a unique way and with the highest budget (i.e. professionally written copywriting, or transcription) given to important areas like headlines and CTAs as well as machine translation being used to translate footnotes and other forms of text that people do not usually read.
Have you noticed that certain restaurants do not have the $ symbol on the price portion of their menus? According to research, this technique, dubbed euro pricing has the potential to increase sales by as much as to 8percent. Utilizing price reductions as well as volume discounts, unique exhibits, raffles and vouchers are all part of the method of incorporating neuromarketing into pricing.
Another example is companies that promote three different price packages for their products The middle one is only marginally more expensive than the previous one. The brain of the human being is wired to select the middle option. This is known as the decoy effect or Asymmetric dominance.
The way that the products are packaged can also impact the way they are packaged and also consumer behaviour. Neuromarketing strategies can be employed to create products that are more appealing and attractive to consumers.
The position of the logo, colour font, colours, and the design and proportions of the packaging are all significant factors that affect conversion. In addition, several studies have shown that they impact consumers’ subconscious perceptions.
Should we be worried about neuroscience?
Some may be worried about the effect of neuromarketing on the consumer’s behaviour. Some believe it’s an example of “brainwashing” and that it can be used to influence consumers into buying items they don’t need. While this may not be completely absurd, it isn’t focused on manipulating people. Instead, it is about understanding the way the brain works and using that knowledge to enhance marketing messages.
It is crucial to be aware that as we continue to research it is imperative to be extremely cautious in how we can use neuroscience beneficially and ethically that benefits both business and consumers. Since neuroscience is a fascinating field which has the potential to transform our world. If we apply it with the care it can allow us not just in marketing, but as well in how we interact with each other and live our lives and use our time.