Neuromarketing is emerging as the key tool in the marketing industry. The idea is to let your brain reveal hidden and profitable truths for a marketer. See how market-giants are demonstrating it!
When a consumer watches your ad, as a marketer, how would you comprehend the perception of the consumer? Surveying? Well, yes. Having said that, even when you ask a consumer to respond to your ad or a marketing campaign for that matter, he/she may not always be able to tell what’s happening to them or how they are feeling at every moment. That’s when neuroscience comes in the picture to get you covered.
First applied in 1990, neuroscience has come a long way, however, it has gained a lot of attention lately from the major market players in the industries. Today, it’s emerging as the key tool in the marketing sector. It has made the already good communication of market players to the better and greater one.
What’s neuromarketing?
If simply put, neuromarketing is incorporating the advanced concepts of neuroscience into the creative marketing strategies. As you may know, this method involves difference technological devices being used for brain scanning, brain imaging etc. This helps to observe the brain activities which then marketers employ to understand how consumers respond to their packaging, media consumption, ads, in-store experiences. They evaluate the data and information received using neuroscience tools.
Why neuroscience?
Earlier, market leaders used to guess the behavior of consumers on the basis of conventional market research conducted through surveys. Consumers, however, don’t behave the way they say it in such surveys. That’s exactly why marketing campaigns do not always meet the set targets. Besides, the articulated response of consumers tends to miss out things which are actually going on and driving the purchasing activities of consumers.
Breaking it down, not only the conscious emotions but also the non-conscious emotions have an impact on the decision making of consumers. It is often observed that consumers tend to make their purchasing decision without being aware of what they are actually doing!
Marketers get rid of the guessing-work involved in the development process of marketing campaigns. It kicks the parts of the brain which would spark off the branding of your company and subconsciously move toward your products and services.
But how are marketers employing the technology?
Neuromarketing companies are utilizing the neuroscience tools for quantifying the subconscious and emotional response through the methods given below:
- Self
- FMRI
- EEG
- Facial Coding
- Biometrics
- Implicit testing
- Eye tracking
They extract the data demonstrating such methods, analyze them and handover to the marketing companies. Based on the demographics, a particular ad or a marketing campaign’s impact and perception amongst people is determined. Neuroscience shows exactly how and when the target group discerned the campaign on the basis of which a company can make changes in the ad or channelize its marketing toward the right direction.
Neuromarketing Campaign.
Frito-lay the chips company when conducted neuromarketing research, discovered how consumers are responding the packaging. The matte bags with potato image did not drive a negative response as it did in the case of shiny bags with chips image on them. The company immediately worked on improving the packaging and replaced the shiny bags with the new matte design.
Another neuromarketing research was taken up by the digital payment solution firm, PayPal. The study revealed that consumers got attracted more to the ad which conveyed speed and convenience use of the app. The campaigns were evaluated comparing with campaigns with safety and security message.
Neuromarketing is a serious research area that helps marketers analyze the response of customers to the product, service, company or the marketing campaign and how it impacts the decision making on a body and mind level.
The other side:
Not every marketer is suborned by the glossy picture of neuroscience technology, some of the markers believe in the conventional method of marketing i.e. tried-and-tested method. This group also believes that neuromarketing is unnecessarily expensive, non-scalable while it does not suit the typical business environment.
One such raised issue questions the ability of neuroscientists to transcribe the findings into substantial marketing solutions. Grasping the meaning and relevance of the neuroscience is also a concern of dubiety amongst the orthodox marketers.
Brands typically set a budget for market research and recent studies have observed that a great portion of this budget is spent on neuroscience which is comparatively greater than what it looked like two years back. Indeed, the advancement in technology is finding better ways of marketing a product, also, the pressure on marketers to understand consumers and how different things affect their decision making has gained a deeper learning which is driving growth and precision in the field of marketing.
-written by Gauri Ludbe.
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