Marketing is one of the prime things that is needed for the survival of any kind of business. Without marketing, there would be no demand for the goods or services of a business as well as its identity. It gives the brand an option to connect with people. Apart from building the business reputation, marketing also helps in boosting sales of the products and services.
With time the way of marketing has changed, traditional marketing is not the only one in the industry right now. Digital marketing made its presence known, apart from that another way of marketing that is grabbing the attention of every industry is Neuromarketing. The name sound scientific and in reality it somehow is. In this article, we will talk about what actually is Neuromarketing and its future in our world. So let’s get right into the business.
“GOODBYE, THE TRADITIONAL MARKETING! HELLO, NEUROMARKETING!”
-Hedda Martina Sola
What is Neuromarketing?
Neuromarketing is also known as consumer neuroscience. It mainly studies the brains of consumers and tries to alter their behaviour and decision-making in favour of the businesses products or services. It basically means measuring physiological and neural signals of customers, to understand their motivation, preference, behaviour, and decisions, these help in the development of the products, their pricing, and others.
Traditional marketing by using surveys and all try to delve into the conscious mind. While neuromarketing tries to enter the subconscious mind that can give accurate results.
Here neuroscience and cognitive science are used for marketing. It applies neuropsychology in market research and somehow or the other resulted in changing the behaviour of a consumer.
How does Neuromarketing Works?
Neuromarketing only works with the help of certain technologies and they are mainly brain scanning technology such as MRIs, facial encoding, sensory marketing, and Electroencephalography also known as EEG. This helps in realizing how the audience‘s brain reacts after watching an ad, a product, and its packaging design. The marketing depart of the business start collecting the results.
They test ads by showing them to people and scientists realize what part of their brain is lighting up. This helps in making them understand what the person is actually feeling.
Colours are deeply related to emotions, so while making products marketing experts ask to research on this matter, so that perfect colour can be used for products to attract the attention of people.
Too many products to choose from can make people, so advertisements or presentations must be made in such a way that they would not overwhelm the consumers.
Pros And Cons of Neuromarketing
- Neuromarketing research fills in the gaps that are left after traditional marketing research. Plus it helps in understanding the customers better. They get information from people’s facial expressions, eye movements etc.
- Neuromarketing gets information from the subconscious mind of a customer, so it provides reliable data about what the customers actually want.
- It has become a value for money as it gives out accurate information regarding the want of customers.
- There are people who believe that Neuromarketing breaks ethics by entering into the human brain and gathering information.
- To use Neuromarketing specific skills are required, it is not possible for a traditional market researcher to apply neuromarketing research.
- Privacy can also be a great concern as through, neuromarketing all the data that are derived after scanning the brain can get leaked and can lead to vulnerable situations.
Examples of Brands That Used Neuromarketing
To increase their sales and make their presence known in the market, various brands are using neuromarketing nowadays. Some of them are:
Yahoo created an ad of 6o seconds using electroencephalogram (EEG) where it can be seen people from around the world are dancing and are having fun. EEG reads the activity of the brain before running the ad on the TV or online. After the ad scored better, it was introduced as a branding campaign.
Frito-Lay snack used matte-finished packaging for their brand’s snacks. Before launching their product, they did neuro testing, which states that people started reacting positively to the matte finish packaging of their products. Naturally, this results in a drastic increase in the profit of Frito-Lay.
One of the most famous brands for electric appliances in their advertisement for phone photo printers used a very emotional topic. The neuromarketing research shows that people reacted empathetically after watching the advertisement. The advertisement helps in producing a hormone called Oxytocin, which resulted in empathizing with people which led to the audience realizing that the brand cares about them.
This automotive manufacturing company is very much aware of the power of neuromarketing. Hyundai uses EEG testing of the brain signals of customers to understand what they actually want and what kind do they prefer that leads them to purchase the product. The data collected from EEG testing are used by Hyundai for designing the exterior of their automobiles, which leads to an increase in sales.
The online payment service uses neuromarketing and attracts customers to use their payment service. They have seen that the USP are able to trigger the brain of their customers, so they made ads that focus on it, which boost the number of customers using their service.
Cheetos released an ad that showed a woman putting orange snacks with white clothing in the dryer. The EEG tests showed that people actually liked the ad, whereas a focus group study states the opposite. This shows that people can lie but their subconscious mind cannot.
Is Neuromarketing The Future Of Marketing?
Although not every company has started using neuromarketing as its prime form of marketing but it has a huge potential. Some of the major brands are using this method already. This method is naturally able to read people's emotions and know what they actually need this leads to companies creating products according to the customer's choice, which naturally led to a boost in sales of the company. Companies care about making profits, so they will definitely start applying neuromarketing as a way of marketing in the future.
With the use of neuromarketing, the future of marketing is changing. Some may feel that it is not ethical and can harm people’s privacy but big brands are already using it in their favour. It is just a matter of time that traditional marketing will go obsolete and neuromarketing will rule every industry
Is Neuromarketing Illegal?
No, neuromarketing is not illegal but neuromarketing companies avoid testing kids who are under 18 years old.
How Do You Become A Neuromarketer?
You need to have an undergraduate degree in marketing, advertising, or consumer behaviour with a psychology or neuroscience course.
What companies use Neuromarketing?
Yahoo, Frito-Lay, HP, Hyundai, PayPal, and Cheetos are some of the companies that used neuromarketing.
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