The Benefits of Neuromarketing

Neuromarketing is a modern marketing approach that uses neuroscientific data and sometimes biometric measuring technology, like EEG-Brain Wave Mapping, Eye Tracking, and Facial Coding – to accurately decipher consumer’s psychological responses to brand offerings. What does this mean? Over 95% of purchase decision making, and all consumption decisions, take place in the subconscious mind and the emotions that drive it.

This means that consumers don’t have free will.

At least not in a broad sense. Every decision we make as human beings is going to be rationalized with data & experiences from our past, and perceptions of what we think the future holds. There is no objectivity in decision making because we all give subjective meaning to the conditions and circumstances of our lives.

Thus, neuropsychology is a crucial marketing insight. Proactive web designers and marketers should help their clients capitalize on this to grow business returns and optimize marketing strategies. But most are unaware this even exists. Designers prioritize aesthetics or functionality, while marketers prioritize analytics based on actionable data. But what if you don’t have a large enough sample size?

What if reactive data isn’t reliable enough because it’s assuming that you’ve already optimized your marketing strategy? This is where neuromarketing is most useful. Neuromarketing is based on predictive studies of human behavior.

With neuromarketing, we can assume that a breast augmentation candidate and a new homeowner will react similarly to a prompt in a given scenario, based on the user’s archetypal needs & desires. In other scenarios, we know they’ll react completely different. It’s the job of the neuromarketing agency to determine what motivates your customers to buy, and they can also create a new desire within that customer archetype – saving you time & money on marketing in the long run.

Is neuromarketing ethical?

According to ‘Neuromarketing Science & Business Association’ (NMSBA), neuromarketing efforts are directed at answering core marketing questions.

These questions include:

Why do consumers buy what they do?

How much are they willing to pay?

Why do some brands appeal more than others?

This is a study on human behavior and can be unethical when power is placed in the wrong hands. Marketers who care about consumers’ tastes and preferences – and have a genuine desire to help business owners understand their customers better are arguably ‘more ethical’ than the average marketing agency.

Traditional consumer surveys were conducted for the purpose, of gathering information.

I’m sure you’ve heard of or seen a survey request where a company offers to pay you $50 or so to test the product in a focus group.

I’ve done that a few times.

However, these studies are unreliable because they often fail to deliver on their promise.

Consumers do not always say what they think, and cannot always articulate precisely what motivates their buying behavior. They are easily influenced in groups and persuaded by placebos, decoys, and the group administrator’s attitude that day. As their sub-conscious emotions drive their decisions, it’s nearly impossible to get a consumer to tell you what they want.

Rather than trying to suit the consumer’s needs, the job of a well-marketed brand is to seduce the consumer into believing they need whatever the company is selling.

To understand what goes on inside the consumers’ mind, neuromarketers integrate neuroscientific triggers, then tweak and record the response until there is a favorable outcome. Then the process is scalable.

This strategy helps marketers look through the eyes of their consumers, and understand the subconscious motivations and emotional responses behind that consumer’s decisions. The goal is to generate cognitive and behavioral metrics that get actionable insights, real-time.

If enough subliminal triggers are successful, the marketer can predict – and control – the consumer’s behavior to a degree.

You could argue that all marketing is neuromarketing, but one angle is proactive while the other is reactive.

Neuromarketing Example in India

Currently, in India, Entropik Technologies, is the only company offering an online SaaS platform of consumer neuroscientific technologies including – Brainwave mapping, Facial Coding, and Eye-tracking. These technologies are common around the world, especially in Western countries. It’s extremely effective and there are varying degrees of technology, depending on the marketing campaign budget.

Neuromarketing helps consumer brands and business owners predict impactful decisions and transform their content to attract new customers – without the fluff. Hence, it saves time and money in the long run and is well worth the investment if you’re serious about growing a business.