Reading human mind is an ART!
"In today’s technological evolution, impossible is nothing" as Adidas’ slogan says.
Any organization finds monitoring consumer pattern a very primitive means of shaping up their business strategy. This primal strategy has given rise to an incipient field called neuro-marketing.
What is Neuromarketing all about?
In simple terms, neuromarketing signifies the study of how the human brain responds to marketing stimuli. The study and technique utilizes the instruments of neuroscience to decide why we lean toward a few items over others. This is considered to be one of the most extensive and expensive studies of all time. Neuromarketing studies which emotions are relevant in human decision making and use this knowledge to make marketing more effective. The knowledge is applied in product design, enhancing promotions and advertising, pricing, store design and the improving the consumer experience in a whole.
Do medical devices really help gauge our marketing strategies?
It's quite a simple logic. As a consumer, we are actually motivated by what makes us feel great, particularly with regards to our purchasing decisions. To that end, numerous significant companies have started to take unique enthusiasm in understanding how the human mind can help them better to understand their buyers. An incipient yet quickly developing field called neuromarketing, which utilizes brain wave tracking instruments to decide why we buy a few items over others.
Has Neuromarketing ever been used?
Although neuromarketing is a relatively new term, you’d be surprised at how profusely industries so far have put it to use.
1. First on our list is, Google & MediaVest when they partnered with a biometric researcher NeuroFocus to gauge how users responded to their InVideo advertisements (the semi-transparent overlay ads on YouTube). The statistics recorded responses from 40 participants, along their attention, emotional engagement, and effectiveness.
2. Microsoft uses EEG data to understand its users’ interactions with its personal and laptop computers, including feelings of “surprise, satisfaction, and frustration.”
3. To learn how to position themselves better in advertising, Frito-Lay studied the female brain and discovered that it needed to avoid talking about “guilt”—even “guilt-free”—and instead focus on making “healthy” associations in its advertising!
4. The Weather Channel (TWC) was another company that partnered with NeuroFocus, as it prepared to relaunch its “When Weather Changed History” series.
5. eBay: with its online payment company PayPal, eBay has realized that the need for speed of service aroused more interest than the need for the security of banking information.
6. Mercedes-Benz: this car company launched an advertising campaign in which the front of the cars was shaped like human faces, appealing directly to the “pleasure” sensors of the brain. The brand recorded a 12% sales increase in just one quarter.
7. A homeless man’s sign: On the advice of a neuromarketing specialist that passed by him, a homeless man changed the message on his sign from “Homeless. Please help me.” to “What if you were starving?”. The beggar collected $60 within a few hours as opposed to $2 at the same time the previous day, simply by arousing the emotions of passersby instead of merely begging.
Final thoughts on Neuromarketing
In a clutter of ideas, thoughts and innovations Neuromarketing has significantly flourished with the most basic advantage - understanding how the "human brain" works. The beauty of neuromarketing lies plainly in the roots of human emotions and is extremely vital to comprehend the purchasing behavior of a human. It forms one of the most integral part of marketing as it integrates your outbound and inbound marketing strategies.