The Advantages of Neuromarketing: Techniques And Examples
Neuromarketing is one of the newest forms of marketing. You can ask why you should try it? as you are satisfied with traditional marketing.
Here is the thing. You need to try new methods to engage with your customers. When you know the advantages of Neuromarketing, you will be eager to apply them.
Reading the article, you will learn about:
- What Is Neuromarketing?
- Benefits of Neuromarketing
- Neuromarketing Techniques
- The Importance of Understanding Consumer Psychology
- Neuromarketing Examples
Let’s get started.
Table of Content
- Neuromarketing Definition
- How Does Neuromarketing Work?
- The Advantages of Neuromarketing
- Disadvantages of Neuromarketing
- The Importance of Understanding Consumer Psychology
- Neuromarketing Techniques
- Neuromarketing Examples
Neuromarketing refers to research on the behaviour of consumers that assists marketers in improving their marketing tactics. It employs powerful techniques that directly aid consumers’ mind-probing and do not require the consumer’s cooperation in any way.
With the help of neuroscience, it is now possible to manipulate your customers. Today’s marketing professionals spend a lot of money on advertising.
They intend to capture the customers’ minds and know the facts to live in their subconscious minds.
How Does Neuromarketing Work?
Neuromarketing uses functional magnetic resonance imaging and ECG techniques to scan people’s brains. It assesses physiological and neural signals in relation to:
- Certain advertisements
- Packaging, design
- Quantity and quality of the product, among other things
Brain responses are critical for businesses as they give business leaders a clear image of their client’s demands and desires.
Marketers display advertisements, packaging, or product designs while monitoring customers’ reactions and brain activity. Companies can select what steps to take next after receiving replies and measuring the responses.
The Advantages of Neuromarketing
If you are wondering whether to use Neuromarketing or not, learning about the benefits may help you. The Neuromarketing benefits include:
1. Learning About Your Customers’ Complete Perspective
Traditional market research analysis can not reveal complete consumer perceptions. You can try several methods, such as online surveys, reviews and testimonials, phone calls, and responses on social media.
They provide an external view of how customers see your company. However, the problem is that sometimes customers may not express their emotions out of courtesy. That is why knowing their subconscious response is essential.
Neuromarketing helps you reach the minds of customers. You do not need to rely on their word-of-mouth. It is like doing a questionnaire with a mind reader. You get to know the real feelings of the customers.
There are many tools and methodologies available. You can study your customers-
- Hormone levels
- Unconscious emotions
- Facial expression
- Body language
2. Using Emotional Responses to Improve Your Products
There are always some moments that cause you to feel in a specific way while reading a book or watching a movie. The same goes for business marketing.
Certain parts of your billboards, flyers, and videos can evoke positive or adverse reactions. Neuromarketing allows businesses the chance to investigate such responses.
You can analyze and find out what makes your customers react. What kind of reactions do they produce? Depending on that, you can modify your business. You know what your consumers genuinely like.
When you know what they think you need to improve and you improve it in a certain manner for your business. They become happy with your service, and your business grows. You can get these data from:
- Your website’s landing pages
- Educational blog posts
- Social media updates
- Email marketing campaigns,
- Photos and videos
3. You Get Solid Data
There are several things that affect people’s choice. It can be brands, logos, well-known goods, and services. However, preserving these instinctive responses as data takes years of research.
Brands can use neuromarketing to get into consumers’ subconscious reactions. It provides businesses with opportunities to concentrate on modifying those reactions.
You need data about people’s feelings about your products to upgrade them. Neuromarketing is the best way to gain that data.
You can appeal to a consumer’s inner desire by using neuromarketing to target it. And this is what the result will be-
- Increased website traffic.
- Increased business revenue and
- High brand authority.
4. Physiological Responses and Content Are Related
You run many ads for your business. But do they all elicit the same response? The answer is NO. So, why are some ads successful and some are not?
Neuromarketing can help you to find out that issue. You can analyze certain emotional responses in every part of your video ads. You can identify which part of the video did not go well with the customers.
You can analyze their reaction to your new flier. Do your customers like the color combination? Does the word font match the package? You can arrange Product launching events and boot camps to show people your advertisements.
You need experts at the field level. They will judge facial expressions and body language to identify what they do not like about the ad. You can change that part of the ad. By doing so, you can make your customers interested in your products..
Disadvantages of Neuromarketing
Along with neuromarketing advantages, there are some cons too.
1. Moral Considerations
It is an age-old query. Some individuals think that neuromarketing tricks consumers’ minds which is true to some extent.
Some say that neuromarketing performs duties that an experienced psychologist would perform. You “learn” the patterns of conduct and generate intelligent results. Taking permission is not necessary for that.
On the other hand, many people think it is unethical.
2. Availability of Particular Abilities
The quality of insights you can achieve depends on how much particular knowledge you have.
You can easily understand from the field marketing reports.
You face no problem reading people’s reviews and try to work on that. However, you need certain knowledge to understand the report of neuromarketing.
You may not be able to understand what those graphs and heat maps explain. So, you have to hire other people to read the reports for you.
You may hire an inexperienced person to save money. You may think they will be able to do it. But they often make errors. This error of judgment can be costly for you.
3. Costly Equipment
Equipment for Neuromarketing has always been pricey. But today, a whole set of professional Neuromarketing equipment costs about $1,500 to $10,000. It is not a suitable price, especially for a small business.
The price has decreased for some tools, and so has the performance quality. The cheap equipment is less accurate than the expensive ones.
So, if you own a small business, it won’t be easy to afford the best quality products.
You get data from people. They give you that on purpose. But they also want to have control. That is what all the commotion surrounding the GDPR has found.
Data leaks are not rare. In reality, it has increased frequently . You should thus seek to advance data protection technology and procedures. Neural data is highly valuable. They can be cultivated to manipulate people. Therefore, there is a big risk.
Suppose you use this data to manipulate your customers. Though you only do it for business purposes, is it legal? Or is it a crime? It can be the topic of a long debate,
So, there is a risk that someday, people will think it is unlawful. And that can have serious consequences.
The Importance of Understanding Consumer Psychology
The goal of neuromarketing is to analyze consumer behavior.
You may wonder why it is important. Well, understanding your customers is the most crucial part of your business.
1. Consumer Differentiation
Not everyone is your customer. You make a product for a certain group of people. Among them, a certain number of people are your target audience. So, how to find your target audience? Through customer differentiation of course.
Neuromarketing allows you to analyze customers’ behaviors, likes and dislikes. You can differentiate your customers and choose your target audience based on this data.
Your product must meet the expectation of your target audience to keep your business profitable.
2. Retention of Consumers
Gaining new customers is not enough to grow your business. You need to ensure that customers are coming back for more. For this, customer satisfaction is the most important factor.
Customers will only repeat their purchases when they are satisfied with your products.
To ensure their satisfaction, you need to analyze their behavior. Neuromarketing will tell you about:
- What makes your customers happy
- What part of the product do they find unattractive
Based on this result, you can take action to retain customers.
3. Design Relevant Marketing Program
Nowadays, marketing costs a lot. So you must choose the right marketing for you. Marketing is all about drawing more eyes.
So, what will draw more eyes to products?
To find answers, you can analyse your current customers.
What made them attracted to your products?
Or, what is distracting your potential customers?
Analyze this data and decide which marketing program can help you. This way, you will be safe from doing unprofitable marketing.
4. Predicting Market Trend
Understanding the market trend is important to stay relevant. You must predict the market trend to ensure your business stays healthy.
You will find many famous brands that went extinct. Why? Because they could not update themselves with the market change.
People’s tastes and behavior always change. It is not anything constant. You need to follow the latest trends. Neuromarketing will keep you updated regarding the market shift. You have to act fast so that customers remember you.
5. Innovate New Products
Why don’t you list down the biggest brands in the world today? Then analyze their products. You will see that they have constantly innovated their products. And this innovation was always according to the taste of the customers.
Whatever innovation you make should match the customer’s psychology and behavior. If your invention is outdated or even ahead of its time, you will not get the expected support from customers.
Therefore, use Neuromarketing to analyze:
- If your customers are ready.
- If your innovation suits the time and situation
It would help if you had specialized tools and Neuromarketing experts to deploy Neuromarketing successfully.
They will enable you to use the Neuromarketing approaches listed below:
1. Eye-Tracking (Gaze).
The strategy focuses on where clients direct their attention. With its assistance, you can determine the- colors, fonts, advertising, shapes, brand ambassadors, and designs.
Furthermore, eye-tracking can identify objects that cause perplexity in people with special needs. This method will tell you whether you have a high level of recognition. You can improve it so that people remember your company more quickly.
When you use eye-tracking, you can improve your website design and packaging that suit your customers better.
This strategy produces conclusions based on the state of the subjects in the topics. It examines pupil dilation to determine the level of client engagement.
You can use the results to determine how to alter marketing, website design, and product packaging. The strategy is relatively inexpensive and simple to install.
3. Facial Coding
Neuromarketing has made the art of understanding facial emotions a science.
Neuromarketing techniques detect eye movements and brain activity. It can also be used to “read faces” with extraordinary accuracy.
It works like this: whether we smile, exhibit rage, or produce any other type of facial expression, we use our muscles to do so.
These minute muscle movements may be properly recorded using sensors to detect expressions and emotions. Sometimes people aren’t even aware that they are feeling them.
This method uses skin respiration, conductance, and heart rate. It determines the degree of engagement and the type of response. As it is related to our bio-system, customers cannot fake it. You get to record solid data.
5. A Journey Inside The Brain Using Functional MRI or EEG
Thanks to Neuromarketing approaches, we can go a step deeper. We can deduce what others think by seeing what they are looking at. How?
We can do this by utilizing equipment that focuses on reading the brain’s electromagnetic activity. It includes electroencephalograms or functional MRIs (EEG).
Marketers can use these to understand consumer preferences.
You can understand whether a particular feature attracts or repels them. And whether your brand piques their interest or bores them. It helps you measure the quality of the products’ promotion.
6. Sensory Marketing: Appearances Don’t Matter
Sensory marketing is one of Neuromarketing’s most useful and practical uses.
You can influence consumers without them even realising it. For this, you need to use Neuromarketing research.
Sensory marketing can take many different forms. For example, through touch, sound, or fragrance. However, they are all based on getting people to associate a certain brand with sensory stimulation.
The smell is the ideal use of sensory marketing. Sometimes all it takes to persuade a buyer to buy something is to appeal to their sense of smell. Supermarkets frequently enhance the aroma of fresh bread. It helps them draw customers to the aisle and entices them to purchase.
Another excellent resource is sound. For instance, it has been demonstrated that customers focus more on objects of lighter color. High-pitch sounds also assist the demonstration.
Objects of a darker hue catch more attention with low-pitched sounds. You can implement this information while making websites, new advertisements, and packaging.
Many big brands have beneficially utilized Neuromarketing. Here are some excellent Neuromarketing examples:
1. Chips Ahoy
Our first example is Chips Ahoy. They were doing decent business. But not great. They hired specialists to find out why.
The discovery was a shocker. It was not the quality of the product that caused the problem. Rather, it was the packaging.
At that time, the company used a color contrast that made it difficult to read the name.
So, they redesigned some samples. There were boot camps in many areas. They recorded the responses of people of every color.
The brand improved the wording, image, and colors while also changing the container. And finally came out with a new one. Their business grew overnight.
2. Coca Cola
Coca-cola has strong faith in Neuromarketing. They have their in-house science lab.
Before running advertisements, they do experiments with volunteers and measure their brain activity. It helps to determine which advertisements can get the best results.
The neural activity provides objective results. Therefore, it is more effective to create a marketing strategy.
3. Frito Lay
Frito-Lay has observed the potential advantages of effective Neuromarketing in the snack sector.
They requested feedback from one of their focus groups regarding a joke played on another individual in an advertisement. The participants admitted that they did not like the joke involving a prank.
It might be because they didn’t want to appear cruel in front of others. Yet their brain activity indicated that the joke in the advertisement amused them.
To get the best return on investment, brands spend a lot of time and money creating advertising campaigns. They might only lose a few dollars if they run the wrong campaign.
Neuromarketing helps you make the proper investment and save your money and time.
Yahoo was one of the earliest companies to do Neuromarketing. They made a 60-second video ad featuring happy and dancing people around the world. They were connected through Yahoo.
The objective was to draw more traffic to their search engine. They used Neuromarketing using ECG techniques before airing it on TV.
The advertisement performed well on the Neuro-tests. It stimulated the areas in charge of memory and emotional thought.
When they aired it on TV, it was a success. Thus, Neuromarketing helps you evaluate the advertisements before they go on air. In case, If you run an ad on TV and people do not like it, it can cost you a lot.
The advantages of Neuromarketing are promising. Understanding business psychology is the key to success. And Neuromarketing is your secret weapon for this.
It secures your investment in marketing. With proper Neuromarketing, you can reach the mind of your customers.
You can present your product the way they want it. It will help you gain loyal customers for a long time.
Also, it saves you from running unsuccessful advertisements. That is a huge saving for both money and time.
Despite some cons, Neuromarketing is an important part of marketing. You should focus on getting the advantages of Neuromarketing before your competitors do. That will put you one step ahead.