You and everyone else at some point, got influenced by the marketing of a product or service. Your brand is part of the neuromarketing. Therefore, the perception of your brand can influence your audience buying decision.
In 2007, a market research firm called Yankelovich said that 5000 are the ads a person saw every day. But 14 years later, that number might get doubled. The amazing facts behind neuromarketing lie in the fact that many companies use it to make us buy products or services.
We are bombarded every day with ads with one clear intention, make us take action!
Neuromarketing is still in the early stages of its development. Yet, the market is poised to embrace it.
What is Neuromarketing?
Considered a new branch of marketing, neuromarketing uses technologies, including medical FMRI (Functional Magnetic Resonance Imaging) to map the brain’s activity when a person gets exposed to a marketing ad.
Neuromarketing is a newly emerging area of marketing, growing stronger in online marketing. And it has become more widespread. It is becoming more important to market your company to the public successfully.
Why is Neuromarketing Important?
You want a direct and effective method to move your audience and sell your product. Neuromarketing is the most powerful form of direct and effective advertising, especially online advertising. However, any marketing campaign’s success depends on your ability to communicate your message effectively to your target audience.
Is Neuromarketing Science?
Yes, neuromarketing is now a matter of studies by many universities. In the US, for example, we find universities careers in the field of consumer neuroscience. Some universities like Temple University, the University of Akron, and Iowa State have specialized in consumer neuroscience. The power of neuromarketing isn’t all science. You need to understand how to identify the appropriate content, target, and audience for the product type.
Is Neuromarketing a Pseudoscience?
The question has been asked many times before. The answer to this question will depend on the reader. One could argue that the science of neuromarketing has gone through several major advancements. But others may disagree and see neuromarketing as just another new market opportunity. But that’s okay because the difference between a market opportunity and a pseudoscience is simply semantics.
We can thou, expose both sides of the coin by having listed some major pros and cons.
Neuromarketing Pros and Cons:
Initially, let us have a look at the pros:
10 Amazing Pros of Using Neuromarketing in Your Marketing Strategy:
- Psychological link with the product.
Why does a person choose to buy a product before even knowing the product? Because there is a psychological link with the product. The link got established early on and is a direct consequence of the neuromarketing. This psychological effects of neuromarketing and branding are often hidden and pass unnoticed by the average consumer. But not for the businesses who are doing this right, and it is often why they earn more money.
- A better understanding of the Buyer Persona.
The first step in learning how to use this tool is understanding the Buyer Persona. This is a simple psychological construct that refers to a person’s tendency to purchase a product or service in exchange for the perceived benefit. Neuromarketing is a powerful predictor of behaviour, but only if the marketeer knows how it works.
- Improve ROI from marketing campaigns.
A qualitative analysis of online ads in a large-scale marketing program can reveal valuable insights into the marketing process. Here is where we found neuromarketing to be a useful tool in improving the ROI. Making your marketing efforts more cost-effective because it works in the audience’s brain first and after the audience’s desired action.
- Remove unneeded content.
Have you seen those ads where they show the products, but the product is not really prominent, and the spectator doesn’t know what to do next? Well, this is happening with a lot lately. Several companies invest lots of money in marketing campaigns, not bringing in enough revenue, probably because the campaign’s marketeer is not informed about neuromarketing.
- It grows with the market trends.
We already have tools to track users’ behaviours, and we can automate the task with machine learning techniques. But we need to catch users’ behaviour before it happens! Neuromarketing offers the opportunity of adapting our online marketing strategies to new market trends to bring more business to our websites.
- It can be implemented for all kind of product or services.
Each product and service online or offline has their buyer persona. With neuromarketing, we can implement technics and design to improve and personalize the customer experience. There is no product or services that cannot benefit from neuromarketing, as it brings new value and helps in the optimization of marketing campaigns.
- It helps with making better, educated marketing decisions.
The key to your sales success will be to have a consistent and successful marketing campaign across all sales channels. Meaning that the better educated your decisions can be about your marketing campaigns, the better results you can expect from them. You’ll notice that each of the sales channels will have a different marketing strategy, but all marketing strategies should be focused on selling the product or service. The more you sale, the more business your company will have. All these things put together translates into a success rate that will skyrocket as your sales rise exponentially.
- Neuromarketing helps with gathering deeper insights and KPIs.
It helps us determine our business’ success or failure. We can identify the customers who are most profitable and focus on them. By making this information available, we can make better decisions and invest more wisely in our marketing.
- Marketing experts on the field do it.
Neuromarketing experts on the field will use the study results to refine the study to improve its interpretation, including the types of information they will collect. They will also be able to look for clues that might suggest a greater probability of success with specific products. The neuromarketing experts should send a message that suggests the product in a more compelling way than regular marketing.
- It is new, and there are always discoveries.
You can see the potential of using your brainpower to create a story that fits your audience. And because there is always a new way of telling a story, there will always be something new to discover. It can be something as simple as finding a good angle for your story, something as complex as finding the right balance between content and format.
5 Cons of Using Neuromarketing in a Digital Marketing Campaign:
There are many, many reasons why a marketing professional would want to use neuromarketing to improve sales. But there are son cons you need to know if you plan to use neuromarketing in your marketing strategies. Here you have the list of 5 of them.
- Not everybody knows how to do proper neuromarketing.
We are aiming to the manipulation buyer tendency of audiences. Not everybody understands how this works and why it is considered a science apply to marketing. There is a logic behind the colours, the words, the design and more about marketing and selling that its hard to find marketers ready to send the right message the right way.
- It is time-consuming.
Sometimes hours, days or weeks are needed to reach an effective way to implement it. This is one of the main reasons why it is difficult to meet your business’s expectations. The only way to be truly effective is to make the most of what you have. To help you meet your business’ expectations in this regard, you can contact us through one of the many opportunities below.
- More expensive than regular Online marketing.
It’s more expensive because you can use more specialized tools and services to better reach your goals and create a better marketing campaign. For example, if you have a Facebook and Youtube, but these two social platforms require different marketing approach, you know this, but did you know that neuromarketing varies depending on the platform, and even the marketing campaign?
- Neuromarketing needs specific skills.
Consumer behaviour and product reviews require high levels of accuracy and skill. Good knowledge of the product, the context in which the product is used, its history and the brand identity are essential. Understanding the consumer’s brain and how to move the observer or listener into taking the action you need is another skill you need to hone.
- Privacy concerns.
When it comes to marketing, it’s no longer enough to be “all in with the product” and provide the necessary information about your product’s benefits to prospective buyers. It would help if you went a bit further but without invading your client’s privacy. Neuromarketing is aimed to reach people´s brain without noticing what is going on behind the scenes. This is reason number one to be ethical and always use transparent methods to send marketing messages. The market is good enough to provide us with good results without breaking any law or privacy.
Is Neuromarketing Better Than Traditional Marketing?
Although it is one of the easiest to answer, there is no simple answer to this question. It depends on the needs of your business, your goals, and your business model. The best advice that we can offer on the topic is to approach it on a case by case basis.
You can do split testing and run two or more marketing campaigns. Create one with a traditional marketing campaign and the another with neuromarketing technics. Afterwards, you can compare the KPIs on both and by this getting better new information to make your next marketing strategy decision.
How to Start With Neuromarketing?
The first step is to define your market. What kind of product do you want to sell? The second step is to identify your buyer persona. Your buyer persona is your audience, and you need to learn about them and what they want in your product.
Having this is time to science the task to market your product. Check this website and get ready to dive deep into the psychology behind the buyer persona: Neuromarketing Research Techniques and Tools.