How can small, medium or large business improve communications with Neuromarketing insights?
“Diana Lucaci (CEO of True Impact – Neuromarketing Research & Strategy; Canadian Chair for the Neuromarketing Science & Business Association) recently joined David Wojcik at Rogers TV for the show called In Business, in order to talk on Understanding Neuromarketing.
You can watch the entire interview here and I will also highlight below some important pieces of information that Diana provided during this discussion:
- Neuromarketing is the science behind decision making and the most accurate way of getting customer information and measuring emotions.
- The goal of neuromarketing is to understand what customers prefer and to a certain degree to be able to predict it.
- There are parts of the brain are part of a reward pathway, so if a person is really interested or motivated by something, a certain part of the brain will be activated.
- Customers select a product based on their experiences and memories associated with that particular brand. This fact was proved by neuromarketing research, and if you want to learn more about the famous neuromarketing study called The Pepsi challenge, you should watch the video.
- The need for understanding decision making caused the shift between the old paradigm that supported the idea that we are pure rational (Decartes) and the new paradigm which emphasizes the importance of emotions in the brain and states that we are emotional decision makers (Damasio). Damasio stated that the brain initially reacts to a stimuli from the outside world at the basic level, as you decide whether you are going to fight or flight and only after this a person recognizes consciously that they are experiencing an emotion. Rational thoughts and interpretations of the world around us come afterwards, so emotions are an input to rationality.
- As a brain response can now be linked to a behavior response on a mass scale, neuroscience is more valuable to market research than ever before.
- Neuromarketing practitioners are centered around human value: they work with a lot of companies, but also working on improving fundraising campaigns for non-profits or improving the opinion people have towards a sustainable product – modifying public awareness in a positive way.
- Using neuroimaging, neuromarketers are able to detect different levels of specific positive or negative emotions, measure working memory, familiarity and the level of attention. Afterwards, they translate the findings in order to meet the company’s objectives and marketing strategy and to answer their questions or address their challenge.
- “If market research was 100% accurate, no product would fail”, said Diana. Using surveys and focus groups, you are asking people to tell you what they think about your product. And because cognition or rational thinking comes only after emotions, so you are actually asking people to identify their own emotions and to be able to express that. And because people are not able to verbalize all our emotions, they respond to questions as they think the marketer would like to, or in some way to put themselves in a good light and this information is not useful to a marketer. Neuromarketers don’t ask questions, they measure brain activity, so they don’t even risk not asking the right question.
If you would like to see more examples on neuromarketing research, check Diana’s presentation with results from neuromarketing studies.”
Source: Neurorelays Blog