“Neuromarketing is not manipulation, it’s mindful merchandising.” - Melissa Bolton.
Technology has changed the way brands promote their products and the way consumers purchase them. This change in the market has given birth to neuromarketing. When it comes to predicting user behavior, neuromarketing is gaining significant importance in the market. It has been around for a few years now. Do you know what neuromarketing is? No? In simple words, it is the new science of consumer behavior. Still didn’t understand? Then, read the blog to find out
What is Neuromarketing?
Neuromarketing is the study of how consumers’ brains respond to advertisements and other brand-related messages. It is monitored scientifically by studying brainwave activity, eye tracking, and skin response. The main purpose is to predict consumer decision-making behavior. It also helps marketers predict how a particular product, service, or marketing campaign will perform.
How does Neurotechnology work?
Neurotechnology research uses technologies that observe brain activity and biometrics to determine how consumers respond physiologically to marketing messages. The tools used for brain scans are:
fMRI
fMRI stands for “ Functional magnetic resonance imaging.” It tracks blood flow with continuous measurement. It is considered the best tool for tracking activity deep in the subcortical region of the brain.
EEG
EEG stands for, “ Electroencephalogram.” It uses sensors placed on the subject’s scalp to track changes in brain activity. It tracks brain activity in fractions of a second.
The tools used for measuring physiological proxies for brain activity include:
Eye-tracking
It records where a person fixes their gaze for a certain amount of time, indicating their interest.
Biometric data
Biometric data helps measure a consumer’s behavior after watching a certain advertisement. It includes heart rate, respiration rate, and skin conductivity.
Facial coding
Facial coding involves reading the subtle muscle movements of a subject's facial expressions to gauge their emotional response.
Example of Neuromarketing
Knowing the power of neuromarketing, the search engine Yahoo used it to attract new users. When Yahoo was launching its new branding campaign, it created an ad of people around the world dancing. The brand ran this upbeat sixty-second television commercial through testing using EEG. Before releasing the ad, it knew that the ad would get a positive response as the ad scored well on neuro tests.
What has Neuromarketing revealed?
Neuromarketing is simply neuroscience applied to the market. It is still new, and it has confirmed some of the things marketers have always known by experience and through observation. The research has revealed the following about consumer behavior.
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95% of decisions are made subconsciously.
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Social norms influence our behavior.
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Certain colors evoke a particular emotional reaction.
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Visuals are processed more quickly than words.
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The images of beautiful women, children, and puppies are appealing.
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Numbers like $99.99 are perceived as a better deal than round numbers like $100.
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The introduction and conclusion are important in setting the context for how a message is perceived.
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Marketing elements that consumers find personal create a positive response.
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Avoiding pain is a stronger motivation than seeking pleasure.
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Messages that consumers find irrelevant reduce the positive impact.
What are the Pros and Cons of Neuromarketing?
Neuromarketing is indeed helpful in identifying consumers' reactions. But as I always say, everything comes with its own pros and cons. So, here I am with the pros and cons of neuromarketing.
Pros of Neuromarketing
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It can fill the gaps left by traditional marketing media.
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It enables the establishment of physiological reactions to the content.
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It can improve the reliability of results.
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It provides insight into automatic responses that take place in the subconscious mind.
Cons of Neuromarketing
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It is said that neuromarketing means getting inside the brains of customers and is unethical.
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The equipment for neuromarketing is expensive.
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The reactions observed in a test lab environment could be different than they would be in the actual market.
What is Neuromarketing used for?
Neuromarketing can give almost every answer that marketers might have related to their product, service, and advertisements. However, the primary applications of neuromarketing are:
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Website testing.
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Product testing.
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Cross-platform testing.
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Optimization of TV advertisements.
What Is the Future of Neuromarketing?
Market researchers still have a long way to go to understand how the brain works and makes decisions. In the coming future, neuromarketing can revolutionize the understanding of consumer behavior and fundamental marketing principles, including attitudes, intention to purchase, and advertising response. It can improve the ability to text advertising effects and evaluate the product appeal. Neuromarketing will also help consumers as companies will be able to provide fitting products and services that enhance their lifestyles.
Conclusion
Neuromarketing is a science that is helping markets to better identify consumer wants and needs to improve their products, packaging, promotion strategy, pricing, and a lot more. It is predicted that more companies will adopt neuromarketing methods to understand their market and get a good ROI ( Return on investment. As technology rises, more reliable results should be available in the future.
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