Neuromarketing

Neuroscience in Marketing – What Neuromarketing is and how it can Boost your Marketing ROI

First of all, a solid foundation for marketing success is to have a marketing strategy. This strategy is founded on a clear understanding of value proposition (your differentiators), market, customers and competitors to align marketing activity to customer needs. Neuroscience contributes to marketing (neuromarketing) and is a fast-developing field looking at the function of the human brain and nervous system. In summary, it helps you understand how people think and react.

What is neuromarketing? Neuromarketing, sometimes called ‘consumer neuroscience’, studies the brain’s responses to advertising and branding, considering how to fine-tune messages based on data and feedback.

According to the Harvard Business Review [1], “neuromarketing has been bolstered over the past five years by several ground-breaking studies that demonstrate its potential to create value for marketers”.

How you can benefit from neuromarketing

Neuromarketing includes scientific, evidence-based study of physiological and neural signals via sensors. It helps you obtain deeper insight into preferences and decisions, which can in turn influence advertising campaigns, products and services.

How do I use neuromarketing? The sensors used are EEG (electroencephalogram) on your head, eye tracking cameras and fingertip sensors for BVP (blood volume pulse – heart rate/tension) and GSR (galvanic skin response – skin conductance/sweat). These are used to monitor a person’s state during a human-computer interaction when exposed to stimuli.

Therefore, you can measure and record data on responses to your marketing activity, before you commit to spend. Dramatically reduces the risk? You can see how this removes the ‘educated guesswork’ involved in predicting the response of prospective customers.

If you are excited about neuromarketing, why not call a marketing expert on 01625 682110 or e-mail hello@think-beyond.co.uk.

Neuroscience is a game-changer in marketing campaigns

The initial scepticism around neuroscience marketing has long since subsided. An increasing number of neuroscience PHDs are moving into the private sector and marketing is set to benefit.

Imagine launching a new product to market that your neuromarketing research suggests has a very high probability of a positive adoption rate. You are confident you understand customer preferences, what decision they are likely to make and how they will feel. You can literally see the reaction to your latest development before committing the resources to making it.

According to the Harvard Business Review, Google, Microsoft and Facebook all have some form of neuromarketing division, an in-house ‘neurocapability’. This is too expensive for many but “smaller companies can look to partner with specialist consulting firms”.

Is neuroscience market research replacing traditional surveys?

Traditional methods of gauging reaction to advertising and branding may involve focus groups, surveys, interviews and PR trends. The main problem with the traditional methods is the potential for bias and withholding the truth.

Take two examples. Firstly, we know unconscious bias can affect our decisions and someone with a preference for urban living might not give an appropriate response to a campaign to visit the great outdoors. Secondly, we know some people may have motivations or a powerful compulsion to lie, such as with a product to help them quit smoking.

Before committing to spend your hard-earned money on marketing activity that may not yield the results you expect, stop for a second. Why not take a further step and think how you would feel if you can fully trust the results of the neuromarketing research? In conclusion, less bias and sensor responses that see through the lies means a marketing investment with lower risk.

Why you need Think Beyond as your partner

Our marketing consultants are Chartered Marketers who know how to create compelling messages and campaigns that bring a regular flow of leads. We can help with traditional methods of customer feedback and qualified experts in neuroscience in marketing reduce marketing risk.

Think Beyond is based in Wilmslow in Cheshire. We serve a diverse range of clients with marketing and other advice across the North West and beyond. In summary, we partner with you to accelerate your marketing.

Why not request a free one-hour initial consultation and see how we help grow sales and ROI? Call 01625 682110 or email hello@think-beyond.co.uk now. Also, you can complete our contact form to request a call back.

Finally, see what our customers think by visiting our testimonials page.


  1. Hbr.org

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Neuroscience in Marketing – What Neuromarketing is and how it can Boost your Marketing ROI
2019-07-29T06:00:44+01:00
Jennifer

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