Is it possible to access the consumer’s brain to understand and influence their purchasing behaviors? The answer is yes – through neuromarketing.
Neuromarketing is concerned with human psychology – and it’s very exciting. The likes of Pepsi and Google have been using this form of marketing for a while, now – which tells you everything you need to know about its capabilities. Unsurprisingly, neuromarketing is more common amongst larger corporations; while remaining less familiar among smaller businesses.
However, this could soon change as neuromarketing continues to evolve and become more popular amongst all-size businesses.
Here are the top 4 reasons why your business needs neuromarketing.
1. It improves decisions – from marketing to sales
If you’re wondering about the exact details of how neuromarketing works, check out: Neuromarketing: What It Is and How To Apply It.
Executives and owners often make decisions based on emotion or gut instincts. Although these decisions sometimes work, they don’t come from a measurable source – it’s all based on feeling and past experiences. This is a dated form of decision-making in business.
Through brain imaging and scanning, neuromarketing provides concrete evidence surrounding how consumers respond to your business – from product packaging to social media marketing material. In the world of business, this is gold and exactly what you need.
For example, if a certain product is triggering the pleasure senses in the brain, a business knows for certain that they have a successful product to work with. In the past, this wouldn’t be possible – businesses would simply have to pump their products out into the market and hope for the best.
2.You’ll become an expert in consumer triggers and tricks:
When you become experts at neuromarketing through research, you’ll begin to understand what triggers and tricks are best for you to use with your audience.
For example, which colors are the best emotional triggers; and which price tags are the most enticing (many neuro marketers recommend specific prices, like $8.99, opposed to $9.00 – so this is something to consider). Essentially, you will understand the consumer more than they understand themselves.
3. It reduces the need for traditional market research:
Every business wants to gain valuable feedback from its audiences. There are many ways businesses go about doing this – from surveys to reviews. These are all effective methods for understanding the customer – but they can also be time-consuming, costly, and potentially not worth it in the end. Neuromarketing, due to its reliability, reduces the need to constantly chase customer feedback.
4. Success will increase:
Many businesses put products on the market that should never have got past the testing stage – which then negatively impacts their success in the market. Through using neuroscience tests prior to product launches, you’ll know for sure which products are going to boom and which are not.
This way, if neuroscience is revealing a lot of product red flags prior to launch, you can pull the product immediately – saving your business time and resources. It’s a smart and modern way to operate your business. There will be no more blind attempts to win the market – everything will be evidence-based; which means you’ll be more successful.