Understanding Neuromarketing and making it work for you as an Entrepreneur

Understanding Neuromarketing and making it work for you as an Entrepreneur

 

 Don't just market,Neuromarket

(Image source: Neurorelays.worpress.com)

 Unless you’re living under a rock, chances are that you’ve heard of this before. Neuromarketing or mental marketing is the new buzzword. But it’s not just a fancy word that everyone is throwing about but also an actual word that scientists have come up with. Scientists have probed the brain and drawn graphs to understand how the brain responds to a marketing stimulus.

Now you know who’s to blame for buying that extra pair of shoes or that gym membership you never use!

Jokes apart, Neuromarketing helps marketers understand how consumers react to a product. What makes them buy it? How do they choose one over the other? These are very important to the marketing agencies; the product manufactures and you; the curious consumer.

 

The brain responding to an external stimulus

(Image source: mktg-matters.blogspot.com)

 So how does it work?

Reacting to a marketing stimulus- how do brands understand consumers

 

(Image source: video-commerce.org)

 There are many methods of tracking the brain’s activity-the Functional Magnetic Resonance Imaging (fMRI), the Steady State Topography (SST), Electroencephalography (EEG), Eye tracking to name a few. Most widely used are however the EEG and fMRI. But they both come with their own set of pros and cons. For example, fMRI may find that a particular stimulus causes a consistent response in the brain and that response is correlated with a desired behavior such as trying a new brand or flavor.

The consumer’s buying decisions are made in split seconds in the emotional or subconscious part of the brain and by understanding what they like , dislike ,are intrigued by or averse to, brands can design and formulate products and communication techniques to meet any ‘unmet’ needs and make the consumer move from think to buy stage.

Shopping frenzy

According to neuroscientists there are 3 main parts of the brain, each functioning as a brain in itself.

  1. The ‘Human’ or new and outer most part of the brain is the most evolved section and is responsible for logic, learning, reasoning and conscious thoughts.
  2. The ‘Mammalian’ or middle part of the brain is responsible for the moods, emotions and memory
  3. The ‘Reptilian’ or the old brain controls the basic functions like hunger, flight or fight response to external stimulus and to understand what your consumers likes and to build sales, marketers need to understand the ‘Reptilian’s’ hot spots.

These hot spots responds to an external stimulus, decides whether to stay or go and if the scenario is good or not.

 

Capturing consumer emotions

 7 Takeaway tips marketers needs to know:

  1. Your product or service needs to trigger the customer’s senses by appealing to their emotional side.
  2. By adding more JOY into the customer’s experience, it could persuade them to stay and not go.
  3. Leave a strong impression-like the aroma of coffee, a compelling story or wonderful in-store experience.
  4. Use visuals to strengthen the emotional connection- funky packaging, product design or colour, in- store experience if you’re a service based company.

Too cool for school packagingToo-Cool-For-School packaging

  1. Discover the 5 senses– and use ‘Touch’,’Taste’,’Sight’,’Smell’ and ‘hearing’ to attract customers.
  2. Adapt your marketing technique to suit the geographical location you are in. Some countries are attracted to the environmental connect while some others are more logic oriented.
  3. Use the KISS principle: ‘Keep It Simple, Stupid’ Overloading consumers with too much visual content or information will result in them being unable to respond, unable to make a decision and therefore leave the brand display area,  and they will ask themselves “why do I need to know this? “ Or “ Why do I need this product”. All of which doesn’t result in sales! So simplify your message and focus on the benefit that they will receive and why they need to choose you.

Few brands that are making use of Neuromarketing are : Campbell’s soup, Microsoft , Frito-Lays

Although Neuromarketing is a debatable topic, whatever the outcome is, Neuromarketing is noteworthy in terms of really understanding your consumer and giving them what they currently need and want.

What are your views on the subject? Let us know!

-Social Pandora

 

 

 

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