How to use Neuromarketing for your Business? — Marketer for Technologists.
The last 6 months on Linkedin was interesting. I received consistent and increased connection requests on Linkedin from many unknown profiles, asking me ‘how can they use neuromarketing to improve their business?’.
So, I am taking a stab at it. Let me explain.
Marketers deal with both-the known and the unknown. The unknown is sitting in the consumer’s brain. The task of deciphering it is delegated to data derived from surveys, marketer hypothesis, skewed sample sizes, but never the consumer herself.
Neuromarketing uses experiments in controlled environments and in a real-time scenario too.
“It’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.”
Neuromarketing, turns marketers into consumer psychics
No, neuromarketing won’t turn you into Professor X a.k.a Prof. Charles Xavier, or the uncanny Nick Marshall personified by Mel Gibson who can read the mind of a woman.
Preliminary medical tests such as the EEG (electroencephalogram) and fMRI (Functional magnetic resonance imaging) are used. These research processes help you familiarize yourself with neuromarketing. At times, neuromarketing agencies also include PET (positron emission tomography) and MEG (Magnetoencephalography) in the process. These processes help in identifying how consumers emotionally engage with products.
Agencies have revealed insights through their experiments in the fields of advertising, media, e-commerce, retail and etc. Marketers have been able to apply them for website optimization, media optimization, physical product positioning in retail, packaging, branding, and sales training.
I am going to share some of those insights, focusing on specific industries.
Neuromarketing, its application to different business areas.
You will be surprised but the well known A/B testing is an adopted method of neuromarketing. The most unknown cultural differences are revealed during A/B tests. It could be as small as adding or removing a field in a form. These small variations add up to huge improvements concerning the conversions. More about this: Here’s Why Smart Marketers Use A/B Testing
Gaming and advertising
Plugging EEG machines to gamers, the gaming manufacturer can identify what parts of the game are most engaging. Gamers also care about in-app and in-game ads that a gamer responds to. It provides insights into what is the optimal frequency and timing that would reap most upsells. Read on to find out how Microsoft applied neuromarketing for XBox.
Automobile and Product Research
Hyundai, an automobile company applied neuromarketing for product research. It provided proactive insights for the manufacturer about what features are worth including into the new product that is scheduled to hit markets. Find out what neuromarketing was used for before the product was set to launch.
Emotions work better for conversions. There is data that speaks for it. And, here I borrowed this image from Roger Dooley’s blog. Eye tracking, facial coding, galvanic skin response, electrodermal activity, and EEG are some of the methods used to spot emotions that work best for a product. This is experimented even before distributing an ad across a channel mix. In fact, such research determines what should be included in an ad, leading to data that is used by a scriptwriter and a director to design the ad. Some tech stuff here that explains more about it.
Entertainment & Storytelling
The entertainment industry applies a field called neurocinematics to understand how viewers respond to trailers. Before launching the trailer, neuromarketing techniques can be applied to discover which of those trailers provide the desired response from a potential audience. More about the theory behind such an application in the ‘Intuitive Customer’ blog.
High impact Content
This is my favorite!
As a result of neuromarketing studies, results have emerged which indicates that some techniques work well with the content. Content combined high impact neuromarketing insights work well with conversions.
Emote faces. Apply the ‘scarcity effect’ that provides a sense for more. Research confirms that “ customers pay more attention to things that might hurt them over those that would bring them delight when it comes to purchasing decisions.” Playing with colors while presenting content can make a huge difference to what the consumer expects out of your brand.
How would you choose to use neuromarketing for your business? I would love to learn from you if you have already applied neuromarketing to any of the areas of business.
Originally published at http://www.nischalagnihotri.com on June 2, 2020.