TEDx Neuromarketing — Is There a Buy Button Inside the Brain? — Patrick Renvoise Summary

The marketers have surpassed traditional marketing methods and have entered a new era of “Neuromarketing.”

We can split the term “Neuromarketing” into two words, “Neuro” means Brain, and Marketing means selling.

This article will help you understand how marketers tap into our instinctual brain to sell their products.

What is Neuromarketing?

Neuromarketing is a science of determining consumer behavior by using Neurometrics, Biometrics, and Psychometrics.

Neurometrics measures neurological responses, Biometrics analysis, behavioral change, and Psychometrics understands psychological behavior.

How is “Neuromarketing” different from Traditional Marketing?

In traditional marketing, we ask consumers what they want, but in Neuromarketing, we figure out people’s psychological responses to different offers.

Here are some methods used in Neuromarketing:

1. Facial Code. We measure the emotions that a person displays using facial tracking software.

2. Eye tracking. We keep track of the eyeball movement of a person to see where their attention is drawn to.

3. Voice analysis. We analyze a person’s voice tone, and the meaning is behind it rather than their spoken words.

4. Skin Conductance. We measure heart rate, blood pressure, and the electricity flowing between fingers to detect any abnormal changes.

5. EEG. We measure the electrical currents clustered in the brain when the brain is stimulated.

Neuromarketing's objective is to take these data and then use behavioral economics principles to create ways to influence the decision-making of the target audience.

The science behind Neuromarketing

Our brain has three parts

1. The New brain: This part is the rational self, driven by the youngest part of our brain.

2. The Middle Brain: This part of the brain is viewed as our emotional self.

3. The Reptilian Brain: It takes care of our unconscious activity and is called instinctual self.

(Source: Patrick Renvoise at TEDxBend)

Scientists have found that the Reptilian Brain has the most control over our decision than the Rational and Emotional self.

The 2002 Economy Nobel Prize winner Daniel Kahneman’s quotes, “Although system 2 (neocortex) believes itself to be where the action is, the automatic system 1 (Reptilian brain) is the hero of the book… most people choices correspond to the predilection of the system.”

6 Stimuli of the Reptilian Brain

(Source: Patrick Renvoise at TEDxBend)

1. Self-centered: Reptilian Brain only focuses on itself. The marketers use the “ME” factor in their advertisements and digital marketing campaigns.

(Photo by Jennifer Griffin on Unsplash)

2. Contrast: The Reptilian Brain recognizes contrast like before or after, old or new, and encourages the person to buy the product.

Photo by Nikola Johnny Mirkovic on Unsplash

3. Tangible: We often understand the necessity of an item when we experience the difference the product creates in our life. So, marketers use different tangible methods to make people see those differences, which eventually boosts sales and creates high revenue optimization.

4. Beginning and End: Our Reptilian Brain only remembers the beginning and the end of an advertisement. These are the two significant parts that the advertisers need to focus on to engage the audience.

5. Visual: Our optic nerves are plugged directly into our reptilian brain, and it is 50 times faster than our auditory nerve. The marketers have seen high CRO (Conversion Rate Optimization) when they use visuals that directly connect with their target audience.

(Source: Patrick Renvoise at TEDxBend)

6. Emotional: Our Reptilian Brain gives more importance to what it sees rather than words spoken. Advertisers use images that create an emotional impact on the consumer.

(Source: Patrick Renvoise at TEDxBend)

4 Steps on how to use Neuromarketing to generate high profits

(Source: Patrick Renvoise at TEDxBend)

Step 1. Diagnose the pain of your target audience.

Step 2. Differentiate your claims from your competitors.

Step 3. Demonstrate the gain of your value proposition

Step 4. Deliver your audience’s reptilian brain with the visuals and data that will stimulate them to buy the products

Conclusion

Neuromarketing is the newest frontier of marketing, starting with a human-centered approach. It combines various disciplines of science and marketing. Advertisers now focus more on tactics that affect our reptilian brain and hitting the “Buy” button within our brain.

Comment below if you have any questions about “Neuromarketing,” If you found this article to be educational, it would mean a lot to me if you give this article a like!