Using neuromarketing in your marketing strategy can help to provide some important insights into the decision-making processes when it comes to consumers.
Neuromarketing is a relatively new field of marketing that utilizes medical technologies to study how the brain reacts to marketing stimuli. While it can be an effective strategy, it’s also very unpopular in the world of business. This is mostly due to privacy concerns between a business and consumer. Consumers feel that if neuromarketing is used for pure profit reasons that it is less ethical. There is a line when it comes to using a neuromarketing strategy in your marketing campaign.
Neuromarketing involves the use of things like electrocardiograms, facial recognition software, eye tracking systems, functional magnetic resonance imaging, functional near-infrared spectroscopy, electroencephalography, surveys, and self-reports. Due to a lack of resources, these methods are not available to all businesses. So more often than not, marketers have to use what is at their disposal, the internet. There is a lot of data online that can be found to help a marketer with their neuromarketing strategy.
Benefits of Neuromarketing:
- It will tell the marketer what a consumer reacts to: the color of the packaging, the anticipation of having something another consumer doesn’t have, or even how to box sounds when it is shaken.
- It allows for fresher viewpoints. Marketing is all about staying up-to-date with the latest and greatest strategies that will help to win consumers over. Learning about different perspectives and different reactions is a huge advantage in marketing.
- It shows all responses. Some responses can be hidden away when it comes to how a person feels about a certain idea. Neuromarketing allows for both emotional and non-conscious responses to be seen.
- Serves as a reminder. How many times are consumers in the store and they look at a product and think, I want that, but it will have to wait until next time? How many times has that “next time” turned into never? Neuromarketing captures these moments in real-time and can serve as a reminder.
- It helps with priming. When a consumer looks at the logo, package, or poster, it activates different ideas that are associated with that ad. It could be a distant memory, a present idea, or a future innovation. Either way, it impacts all consumers but in different ways. This is what marketers call priming.
Is Neuromarketing For Your Company?
Companies like Time Warner and NBC have been implementing neuromarketing in their marketing strategies for years and recently, Google, Facebook, and Microsoft have jumped on board. With resources being so limited, it’s hard for all businesses to implement neuromarketing into their marketing strategy. If you have a large business, neuromarketing would be more affordable. For small businesses, it can be a very costly venture. So, that is something each business has to keep in mind.
Beware that there are many different scams when it comes to neuromarketing, just like there are in so many other things. When it comes to neuromarketing, do your research. Make sure you have a good handle on what it entails. The field is plagued with vendors who do not match up to what neuromarketing offers.
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