Innovate or Evaporate: How Neuromarketing Might Just Save Your Next Big Idea

Innovate or Evaporate: How Neuromarketing Might Just Save Your Next Big Idea

In a bustling café in Tokyo, a marketer watches intently as a participant's eyes dart across a screen, their brainwaves echoing their every emotion. Halfway across the world, in a chic Bangalore startup, algorithms are being tweaked based on how students emotionally engage with learning modules. What's the common thread? The quiet storm of neuromarketing, redefining how we understand innovation.

Innovation is, as we define it in the KPMG Innovation Center of Excellence, about "turning ideas into value creation." But how do we ensure this transformation?

The Three Stages of Innovation: The Blueprint of Value Creation

1. Where to Play: Identifying the market landscape.

2. How to Win: Designing a strategy to conquer.

3. How to Get Adopted: Ensuring a product is embraced by its audience.

Many innovative endeavours falter during the third phase. But with tools like neuromarketing, the path becomes less murky.

Neuromarketing: The Brain's Decoder Ring

Toyota's groundbreaking campaign for its hybrid car Prius is a testimony to this. By employing neuromarketing techniques in Japan, they decoded consumers’ neural reactions, tailoring a campaign that appealed to both emotional and environmental sensibilities[1].

Not too far away, South Korea's LG, in launching their OLED TVs, banked on neuromarketing. By understanding viewers' subconscious emotional triggers, they pitched ultra-realistic visuals and immersive sound, making audiences feel an unrivalled cinematic experience[2].

Neuromarketing: Why it works

In his book "Brainfluence: 100 Ways to Persuade and Convince Consumers with Neuromarketing", Roger Dooley offers insights into how our brains make buying decisions and how businesses can tap into this knowledge.

Here are some of the 10 most important takeaways of Dooley's work:

1. Emotion Over Logic: Our buying decisions are primarily driven by emotions rather than logic. Brands that can evoke a strong emotional response have a competitive edge.

2. Sensory Influence: Sensory cues, visual, auditory, or olfactory, can profoundly influence purchasing decisions. For instance, the smell of fresh-baked bread can make a person hungrier and more likely to buy in a bakery.

3. Pain of Paying: Consumers feel a "pain" when parting with their money. Reducing this pain—for instance, using terms like "small fee" instead of "price"—can enhance sales.

4. Mirror Neurons: Humans are wired to mirror the emotions and actions they observe. If businesses can excite one person about a product, it can ripple out to others.

5. Reciprocity Principle: Giving something to potential customers, even something small, can make them feel obligated to give something back—like their business.

6. Social Proof: People are influenced by the choices and behaviours of others. Positive reviews, testimonials, and other forms of social proof can be powerful persuasion tools.

7. Choice Overload: Too many choices can overwhelm customers and lead to decision paralysis. Simplifying options can sometimes increase conversions.

8. The Power of Storytelling: Stories are memorable and can create a deeper connection with the product or brand. Instead of just listing features, tell a compelling story.

9. Trust Factors: Trust is crucial in persuading potential customers. Guarantees, return policies, third-party certifications, and showing that real humans are behind a brand can boost trust.

10. Priming: Small cues can "prime" a person to be more receptive to a message or product. For instance, a website background with fluffy clouds can make users think a product is "lighter in weight."

Brainfluence is also a podcast that I recommend to listen.

Beyond the Brain: Other Techniques that Drive Adoption

While neuromarketing holds its allure, the innovation landscape globally integrates:

- Gamification: Tencent's WeChat employs gamified features to keep users engaged[3].

- Growth Hacking: Byju's, an Indian ed-tech marvel, used robust digital strategies, seeing its valuation skyrocket in mere years[4].

- Social Engineering: The Philippines, leveraging their Bayanihan spirit, have grassroots movements using social values for impactful initiatives[5].

In the end, innovation transcends algorithms. It combines technology, psychology, and the human touch, ensuring every idea manifests into tangible value.

Sources:

[1]: "Neuromarketing in Action" by Patrick Renvoise and Christophe Morin.

[2]: "Brainfluence: 100 Ways to Persuade and Convince Consumers with Neuromarketing" by Roger Dooley.

[3]: "WeChat as a Semiotic Technology" in Studia Semiotyczne.

[4]: "The Byju's Phenomenon" in Forbes India.

[5]: "Bayanihan and the Spirit of Community" by J. San Juan.

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Oanh (Claire) Bui

Innovation Advisor and Coach, Technology Evangelist, from Startups to Corporations and Beyond

1 年

Very fastinating with the neuro marketing captain!!!

?? Rik Doclo ??

Independent Author of Progressive Pathways | AI Expert | Innovator | Advanced Facilitator | Storyteller | Techie | Sustainability-minded

1 年

Yann, the three phases (and many other related innovation approach topics) we brainstormed during our many sessions (in our own time) together... I specifically like the example link with Neuromarketing. I am sitting on a pile of personally gathered research materials that link to the different elements of our E2E Innovation Management Approach. Happy to show you and how to helped my neuroscience mind even zero in better on all the concepts of that same approach. You know where to reach me ;-)

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