Marketing is a tool that is very important in every field of work. In order to grow your business, you have to be very much aware of your marketing strategies.
It is something that people have been using to grow their business for thousands of years. But the word “marketing” gained popularity only during the late 19th century.
Over the decades, the way people have used this important tool in many different ways. And the addition and development of technology have certainly been a boon to the marketing field.
From advertising in antiquity to commercials and now neuromarketing, we have come a long way.
And with time it gets harder for marketers to sustain while it gets easier for consumers to consume.
Here, we’ll be discussing Neuromarketing.
In this article, you’ll find out everything you need to know about neuromarketing. It’s definition, usage, and everything in between.
What is Neuromarketing?
When you first hear the term, you might be a little confused because it has two words that never quite go together; Neuro and Marketing.
So you might be wondering what is this neuromarketing phenomenon?
In plain and simple words neuromarketing is a field of marketing that uses medical technology to study the brain’s responses to marketing.
It is a marketing tool that helps you design your content to obtain particular neurological reactions associated with buying or emotions linked to it.
Utilizing neuromarketing, you can reexamine your marketing strategies and make more clever advertising that will help the viability of your work.
Its objective is to see how your client’s brain really functions and what influences your marketing will have on the consumers.
Neuromarketing is a concept that can be understood from both commercial as well as a scientific perspective.
There are different writers and marketing experts writing about neuromarketing and presenting their own views and ideas.
Roger Dooley in his book Brainfluence: 100 Ways to Persuade and Convince Consumers with Neuromarketing writes about neuromarketing focusing on the more practical and commercial side of it.
He is someone who has been actively writing blogs on neuromarketing since 2005.
Erick Valencia, on the other hand, writes about neuromarketing in his book Neuromarketing Step by Step: Based on Scientific Publications, focusing more on the scientific aspects.
Science and Neuromarketing.
Be that as it may, science plays an important role when it comes to neuromarketing.
According to different neuroscientists, 95% of all feelings, thoughts, and learning happen before we are ever mindful of it.
However, most marketing attempts drop the huge subliminal and rather focus on the conscious mind.
So, in order to advance beyond your competition, it’s a great opportunity to quit offering to only 5 percent of your client’s brain.
There are even different scientific tools that help you measure the customer’s mindset.
It helps you gain insight over customer’s choices, preferences, motivations, and decisions while buying.
And in turn, these tools can be helpful in informing product development, advertising, pricing, as well as other marketing fields.
And the most common method of doing so is brain scanning. It helps measure neural activity and physiological tracking.
The Tools of Neuromarketing.
There are generally two tools for scanning the brains; Functional Magnetic Resonance Imaging (fMRI) and Electroencephalogram (EEG).
fMRI uses solid magnetic fields to track changes in the bloodstream over the mind and is regulated while an individual lies inside a machine that takes nonstop estimations.
An fMRI can reach deep into the mind and yet is inconvenient. It tracks movement just through the span of a few seconds, which may miss transitory neural occurrences.
Another negative point of fMRI is that it is very expensive. It costs up to $1000 per machine hour and one must lie completely still while the machine scans.
EEG, on the other hand, reads brain-cell activity using sensors set over the subject’s scalp. I
It can track changes in action in a matter of seconds. However, it doesn’t do a good job pinpointing precisely where the action happens or estimating it in deep, subcortical areas of the brain.
Be that as it may, it is rather a cheaper form as it costs way less than fMRI.
Other ways of measuring attention in consumers are eye-tracking, heart rate, respiration rate, and skin conductivity measured arousal, and facial-expression coding.
Each of these methods has its own specific areas of target.
Application of Neuromarketing in Advertisement.
Neuromarketing is fairly a new concept when it comes to marketing strategies.
It started gaining popularity around the mid-2000s. And despite people being skeptical about it, it still is seemingly popular.
Neuromarketing has helped different brands, globally, to change their marketing strategies.
There are different ways you can incorporate neuromarketing into your brand.
Packing plays a very important role while selling your product to a potential buyer.
Many times the product we purchase might not be that great. But if the packaging is done right, people will surely get attracted. And this is something companies have known for a long time.
According to this strategy advertisements did better and was more effective if it includes people.
An advertisement would gain more attention, especially if it included a baby.
With the help of eye-tracking technology, researchers have found placing the infant’s gaze toward the product, help viewers focus more on the product.
But if he/she is placed face on, viewers get distracted and are more focused on the baby.
Using the Right Color.
Colors play a major role when it comes to consumer behavior. Consumers tend to place color and visual appearance above any other factor while purchasing.
In research done by KissMetrics, 85% of consumers admit to making purchasing decisions based on color.
Colors also increase brand recognition by 80%.
Audio branding can be a great asset in terms of brand recognition.
A catchy tune or jingle is something that can easily catch the attention of consumers.
It helps activate the right mood in the audience and creates a sense of connection with the brand.
What is the point of marketing a product when your target audience can’t even understand what’s written?
Human beings are usually lovers of simple things and would choose comfort and ease over hardship.
Therefore, choosing a great font that is easier to understand and read while marketing your product is a great idea.
One thing people love more than gaining something is not losing out.
When advertisements state “limited stocks” or “buy before it sold out,” consumers are more likely to purchase the product.
The simple reason being that you’ll lose out if you don’t purchase it immediately.
Anchoring is a marketing trap to draw a potential client into purchasing something at the planned cost despite the fact that the genuine cost is much lower.
What it does is persuade the purchaser into accepting that something is worth buying. It utilizes a specific aspect of the item as an offer to the potential purchaser.
Today, many companies have adopted neuromarketing strategies to grow their business and reach more people.
It is an amazing strategy to get a hold of the cognitive biases of your potential buyer and persuade them to purchase.