The Power Of Neuromarketing For Business Growth
What is neuromarketing?
Neuromarketing refers to the application of neuroscience and cognitive sciences to marketing. This involved measuring people’s physiological and neural signals in order to understand triggers and motivations and buy behaviours.
It is becoming more difficult and more challenging to be noticed in a crowded market.
It would be wonderful if marketers and small businesses understand the thinking and buying habits of consumers.
Neuromarketing is a science that makes this possible.
Neuromarketing is a combination of neuroscience, social psychology and market research. It informs advertising, product design and pricing.
Neuromarketing isn’t a new concept. Neuromarketing is a common strategy used by large companies to increase sales, go to market, and advertise.
This elusive science is not only for a few businesses. Neuromarketing can be used by marketers and small-business owners to enhance their strategies and grow their businesses.
Starting a Business, Building a Brand, Or Designing a Product. You should be able to understand how neuromarketing works.
Neuromarketing is a scientific method that tracks brain activity and body movement to give marketers and brands insights into how to communicate with, motivate and influence their audience. Scientists use, among other tools:
An EEG measures brain activity using electrodes that are placed on the scalp. This technique shows which stimulus activates which regions of the brain.
Functional Magnetic Resonance Imaging (fMRI):
An fMRI (functional magnetic resonance imaging) is a test that tracks blood flow in the brain using magnetic fields. An fMRI is a test that can determine a customer’s neuro reactions, recall, and level of engagement with a product or design.
This technique allows marketers to measure and observe the attention of test subjects through their eye movements. This also records pupil dilation which measures customer arousal.
Tracking facial expressions:
This technique uses tools to track and identify micro-changes in facial expressions. This method is used to measure a customer’s emotional reaction with quantitative data. It measures abstract emotions like joy, sadness anger, disgust, fear, and anger.
The heart rate can be monitored and recorded using sensors attached to the cardiovascular points. These changes indicate uncontrolled emotions such as excitement or arousal.
These are just nine ways that neuromarketing can help improve your marketing, product design and branding.
1. Adverts should include images
People, especially babies, attract more attention and tend to be photographed for longer periods of time.
However, if the person in the ad is directly looking at you, people tend not to pay attention to the content. Readers are naturally drawn to the content if the person is looking at it. This is evident in studies that examine the effectiveness of baby pictures in advertisements.
Choose images that allow the eye to naturally flow towards the copy, rather than away.
2. Pick appropriate colors
The color of a product can influence your purchasing decision. Don’t just pick the colors you like. Choose colors that are appropriate for your products, messaging, or audience.
3. Use effective product packaging
It is not always what is inside that matters. Attractive packaging is what attracts people.
Neuroimaging shows that consumers subconsciously respond positively to marketing stimuli, such as packaging.
4. Eliminate decision paralysis
Business owners and marketers used to believe customers wanted choices. It turns out, however, that too many choices can lead to decision paralysis.
5. Leverage loss aversion
People worry more about what they may lose than what they might win. Advertising strategies that limit stock are very effective.
The way you present decisions to people (called “framing”) has an impact on their decision-making. If consumers believe that indecision will result in a loss, they are more inclined to purchase.
6. Profit from the anchoring effect
Because it often forms the basis of subsequent decisions, the first piece of information people hear is crucial. Because people are unable to assess the intrinsic value and can only compare it with other options, this is why they do not often know how to evaluate it. This is called the “anchoring impact”.
7. The right price
Many times, we see item prices ending in.99 rather than an even number.
Contrary to popular belief there is a reason, but it does not apply in all cases. Pricing is determined by the accompanying messaging.
8. Incorporate important features into your website design
Neuromarketing provides information on how websites should be designed. Your eCommerce website must be well-designed, with strong photos and social proof.
9. Add science to market research
Traditional market research like focus groups and surveys is very limited in its scope and accuracy. Brands and marketers continue to find discrepancies in what people actually do, even with the most precise surveys. People can say one thing but do another. People lie often. The brain, however, does not.
Because the subconscious mind has more influence than people realize. More than 90% are subconscious decisions.
Neuromarketing bridges the conscious-subconscious gap and allows marketers and brands to better understand their decision-making triggers and motivations.
Neuromarketing uses data methods and tools to track and measure people’s unconscious reactions. These data reveal more about customers’ desires, preferences, and attitudes that the typical responses to questionnaires or supervised interviews.
Continue to conduct market research but add data from studies that will help you improve marketing and advertising.
Every marketer and business owner wants to be able to read their customers’ minds. Neuromarketing is a way to do that.
Neuromarketing: The 7 Key Benefits
Since I started in Neuromarketing 15 years ago, I have conducted hundreds of studies across many sectors and continents. I have seen the advantages that clients get from this type of research far beyond what they could with traditional methods. There are seven main benefits that I believe you can get from this type of research:
1. Discover fresh viewpoints
Creatives and marketers thrive on new perspectives and fresh thinking. These are provided by Neuromarketing, which offers a different perspective than traditional research. It can measure the effects of lower-level designs (such as print ads) as well as videos (such as TV and internet ads) in terms of people’s attention and emotion.
While many creatives and designers are focused on the larger meanings of their work, Neuromarketing research can provide more detailed recommendations. These include insight into how to create imagery that catches attention and how to edit ads to make key information more memorable.
2. Find emotional and non-conscious responses
Most people experience a variety of emotions on an average day. Some emotions are quick and short-lived, while others can linger for a long time but we don’t notice them. These emotions and feelings can influence our behavior, like what we buy. Many neuromarketing techniques can help you identify the triggers for these emotional reactions in a way that asking questions cannot.
3. Measurements on common scales
Consumers will have a wide range of emotional responses and ratings. It is difficult to tell if some people are exaggerating, or downplaying if you ask different people. Although some variation can be filtered out by average data across a large sample of people, it’s still a difficult exercise for people to rate their feelings using a scale. We are not always able to accurately do this. It is difficult to compare results across cultures because of differences in expression.
4. You can measure fleeting reactions people don’t remember
Neuro measures are able to capture instantaneous responses in real-time when studying the evolution of experiences, such as watching TV ads. This provides valuable diagnostic information that can be used to improve the editing of an ad. It is also very difficult if not impossible for traditional question-based methods to obtain this kind of information. This is mainly because:
5. Asking people to reflect on how they feel about a topic can help change their feelings
In the same way that certain chemical reactions can only occur in a cell when light is shined on it, shining our conscious attention on a feeling can also change it. Asking people to express their feelings about something causes them to revise, rationalize, and examine the original reaction.
6. Priming effects can be measured
It activates a variety of ideas within our minds when we look at something, such as a logo, package, or poster. This is known as effect priming by neuroscientists. These ideas, which neuro techniques can measure, relate to feelings and concepts an ad or logo might trigger in us. Many of these ideas can trigger goals in us without our conscious awareness. You may be triggered by a poster advertising a luxury brand earlier in the day, and you want to treat yourself to an expensive treat.
7. Can be scaled up
Although a market researcher with experience and talent can sometimes get around certain challenges by carefully questioning people and reading between the lines, they have a limit on how many people they can ask. Neuromarketing provides research methods that can be scaled up by companies, often using similar methods and thereby achieving comparable results.
You can use the neuromarketing principles that Brisk Logic has shared to create better content, better websites, better product designs, and a better customer experience.