🥇 What is neuromarketing and how to apply it in a business?


In a market full of options and in which several companies will have to compete to cover the same need, neuromarketing allows us to give new elements to our products to differentiate them.

Neuromarketing is a marketing specialization that harnesses our most primitive instincts to influence our decision making when it comes to shopping. It might sound crazy in a world dominated by logic, and yet it works.

Index

What is neuromarketing?

First, let’s take a look at the definition of neuromarketing: Neuromarketing is a marketing specialty area that employs a set of techniques and scientific knowledge in the field of neuroscience to study, explain and predict client behavior.

Its ultimate goal is to dive into the client’s subconscious in an attempt to influence their decision-making during a purchase.

You can read more about what neuromarketing is and some examples of neuromarketing in this video:

The human brain can be thought of as something that is divided into two parts: one part processes information consciously and rationally while another part processes the same information. at an unconscious and irrational level.

Neuromarketing techniques are based on objective data from Magnetic resonance imaging (MRI), magnetoencephalography (MEG), or electroencephalography (EEG) – able to measure the reactions that take place in the unconscious part of our brain. It’s about discovering how things in our environment such as light, colors or smells can impact decision making, which is supposed to be a conscious process.

All of this additional information about unconscious reactions cannot be gathered through traditional marketing means and is very useful for make better choices about our product strategy.

Some of the benefits of applying neuromarketing include:

1. Increase in conversion rates

Optimize the exact elements that trigger purchases is possible by using neuromarketing as an alternative to the need to perform tests until the best combination is found. It saves time and generates money faster.

2. Adjust the value proposition

Your website only has a few seconds to make an impression on the customer as to your value proposition (i.e. who you are, what you do and why people should buy from you). Neuromarketing can help us optimize our website and boost the conversion rate.

3. Optimize the shopping cart

Customers have a lot of anxiety when making a purchase and this anxiety is not always allayed by money back guarantees or the like.

By getting to know the client’s unconscious doubts, we will be able to border dropouts and increase the conversion rate up to 30%.

🔎 Read on: 7 essential trends to keep in mind to build a successful online store

4. Selecting the packaging that works best

Neuromarketing can measure very precisely customer response to design specifications like color, images or fonts.

For example: matte beige crisp bags – unlike shiny bags with colorful images – work best because neutral bags are perceived to be more natural and don’t trigger nutritional guilt when purchased.

Examples of companies that use neuromarketing

Brands become aware of what consumers think through explicit search techniques such as surveys, focus groups and interviews. They can analyze consumer behavior through observation techniques. However, this information may prove insufficient in a market where competition is still increasing.

For this reason, brands such as Coca Cola, Hyundai, or eBay are forced to deploy ever more innovative approaches by thinking of their customers when evaluating their products.

👇🏻 Watch the Volkswagen ad that won the Super Bowl a few years ago thanks to a neuromarketing study:

Neuromarketing companies can be divided into three main groups:

1. Specialized companies that offer neuromarketing services and carry out research for brands.

These companies aim carrying out studies analyze – from an emotional and cognitive point of view – different aspects of a marketing strategy such as its advertising campaigns, the product itself or the product packaging.

2. Companies that develop and sell the technologies necessary to carry out this research in neuromarketing.

These neuromarketing companies are developing technologies and software that are more easily adapted for use in market research than in other fields such as health. Measure and analyze behavioral and physiological responses is a straightforward procedure and can be translated into valuable information for marketing and communication purposes.

3. Companies that conduct neuromarketing research for brands but which also provide the physical support necessary for brands to conduct this research themselves.

By offering both services, these companies can cover all the needs of a particular brand or business.

Some neuromarketing companies that develop software so that brands can perform their own testing are Bitbrain, iMotions, or NeuroFocus.

How to introduce neuromarketing into your marketing strategy

We can implement a few “tips” in our marketing strategy that have been obtained from studies conducted in neuromarketing over the years:

1. Use simple language

Simple fonts with a constant width and which don’t contain a lot of accent marks (in the case of languages ​​like Spanish or French) work well, unlike other options which may seem too gaudy. The easier it is to read, the better it will work.

2. Suggest to the viewer what to do

If you want the customer to look at shoes, you can run an ad where a woman is looking at a pair of shoes, for example. When we call for a given action and emphasize it, we reinforce an unconscious urge to take such action.

3. Offer a limited number of options to avoid decision paralysis

There are times when offering many options is counterproductive because it can most likely cripple the customer. It is best that he / she chooses only a few options.

4. Perform A / B testing

A / B tests are, in short, tests to assess what works and what does not. When you run a campaign, you should test things like language, colors, or payment steps to find out which options your customers respond to best.

5. Tell interesting stories

One of the best ways to captivate someone is to tell them a good story. It can also help customers gain a positive association with your brand.

💡 You could be wholerested in: The best examples of digital branding in tech companies

At the end of the line

Based on the neuromarketing examples and techniques we have discussed, one thing is clear. Companies unable to personalize their customer relationships and base them on the needs and expectations of their customers will die soon.

This type of personalization requires getting to know the customer on a much deeper level than web forms, focus groups, or comments allow.

It seems the future of advertising lies in combine traditional marketing methods with neuromarketing to get a complete picture of the customer. The two techniques are insufficient separately. However, when combined, the increase in conversion rates is dramatic and we suspect this is something that will continue to be a hot topic for a long time to come.

Written by

Yes

Leave a Reply

Your email address will not be published. Required fields are marked *