What is NEUROMARKETING all about?

The Definition of Neuromarketing

Neuromarketing is the application of neuroscience to marketing research.

Using neuromarketing, you can rethink your strategies and create smarter marketing that will boost the effectiveness of your efforts. The goal of it is to understand how your customer’s brain works and what affects your marketing will have on the population of consumers

Neuromarketing includes the direct use of brain imaging, scanning, or other brain activity measurement technology to measure a subject’s response to specific products, packaging, advertising, or other marketing elements.

Why do we need Neuromarketing?

1. To understand how the consumer is Processing of information

The attentional processes (non-conscious) are responsible for selecting what stimuli attract our attention or not. This depends basically on:

i) Whether these stimuli are different (bottom-up attention); or

ii) Whether our brain considers these stimuli to be important (top-down attention).

During decision making, attentional processes will be responsible for the consideration of an option.

2.      To Determine the meaning and emotional value of our target audience:

Our brain recognizes the information received by our senses non-consciously and provides it with meaning and emotional value. Therefore, when we are making a non-conscious decision, we already have a favorite option.

3.      Deliberation and analysis:

 Conscious cognitive tasks are included herein, such as recovering memories, interpreting the past, anticipating the future, planning, generating intentions, evaluating, and making judgments, simulating, solving a problem, calculating, and reasoning. This phase can make us select an option, which not necessarily is the most attractive one from a non-conscious viewpoint.

Breaking through the clutter has proved to be an increasingly difficult task currently, and marketers are always searching for an advantage.

Understanding the most basic roots of human emotion is vital in comprehending a consumer's’ purchasing behavior.

The Tools of Neuromarketing

Neuromarketing refers to the measurement of physiological and neural signals to gain insight into customers’ motivations, preferences, and decisions, which can help inform creative advertising, product development, pricing, and other marketing areas.

Brain scanning, which measures neural activity, and physiological tracking, which measures eye movement and other proxies for that activity, are the most common methods of measurement.

Neuromarketing Tools

fMRI (functional Magnetic Resonance Imaging)

How it works: Detects blood flow in the brain associated with increased neural activity

What it reveals about consumers: Emotional responses, Level of engagement with the marketing content & Rate of Recall

Uses: Plan pricing strategy, Improve branding communication

EEG (electro-encephalogram)

How it works: Records electrical signals on the scalp from neurons inside the brain

What it reveals about consumers: Degree of engagement & Rate of Recall

Uses: Improve branding communication

Eye-tracking: Gaze

How it works: Detects exactly where subjects direct their gaze when any print/video content is displayed

What it reveals about consumers: What grabs their attention, what confuses them & Speed of recognition

Uses: Helps in Improving website design, ads, and packaging

Eye-tracking: Pupillometry

How it works: Measures whether subjects’ pupils are dilated

What it reveals about consumers: Level of engagement with the marketing content

Uses: Helps in Improving website design, ads, and packaging

Biometrics:

How it works: Measures skin conductance, heart rate, and respiration

What it reveals about consumers: Level of engagement with the marketing content

Uses: Helps in Improving website design, ads, and packaging

Facial coding

How it works: Identifies facial expressions

What it reveals about consumers: General emotional response: happiness, surprise, fear, and so on

Uses: Helps in Improving website design, ads, and packaging

What are the most common applications of applied neuromarketing?

There are multiple applications of neuromarketing that cover almost all sectors. Nevertheless, the most common applications are in intermediate/large companies, who usually outsource market and high consumption research. The most common applications are:

• ·Branding: Emotional evaluation of a brand, brand personality, evaluation of distinctive assets, evaluation of the corporate image, etc.
• Product/Pack: Product design, comparison of packs, point-of-sale display visibility, asset testing, consumer experience, etc.
• Publicity: Comparison of animatics, of audiovisual, digital or radio campaigns, evaluation of advertising campaigns in the place of sale (PLV), brand building, etc.
• Digital surroundings: Evaluation of graphic lines, evaluation of microsites or landing pages, web page usability, brand building, etc.
• Other applications: point of sale, entertainment, politics, industrial design, architecture and working surroundings, etc.

Companies that can use neuromarketing:

These are mainly B2C companies, of medium-large size, familiar with carrying out traditional market research and that wish to complement the results with emotional and cognitive (non-conscious) information from consumers.

Occasionally, these companies acquire their own neuromarketing laboratories (especially if they are already used to carrying out their own market research). Nevertheless, it is more frequent to outsource studies to traditional research institutes or specialized companies.

The true benefit of applying neuromarketing practices is its ability to integrate into both your outbound and inbound marketing strategies.

From things like offering a prospect a warm beverage and seating them a soft chair during a sales conversation to using pictures in babies in advertising. These are all tactics our brain subconsciously responds to.

References:

1.      https://www.neurosciencemarketing.com/blog/articles/what-is-neuromarketing.htm

2.      https://hbr.org/2019/01/neuromarketing-what-you-need-to-know

3.      https://www.bitbrain.com/blog/what-is-neuromarketing

4.      https://www.impactbnd.com/blog/neuromarketing

There is also an excellent course on Neuromarketing from Coursera which explains everything required to better understand Neuromarketing.

https://www.coursera.org/learn/neuromarketing

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