What is the definition of Neuromarketing? What are the advantages and disadvantages of Neuromarketing for businesses and marketing campaigns? In this article, the Agency will analyze the meaning of Neuromarketing and why should you use neuromarketing?
What is Neuromarketing?
Neuromarketing translated into Vietnamese is neuromarketing. This phrase means the method of applying neuroscience and cognitive science in the field of marketing. This is a new field in the field of marketing and helps marketers study consumer behavior in order to improve the marketing strategies applied in the field of advertising and sales.
Neuromarketing shows that thinking, emotions and reason exist at the same time. Like neuroscience helps in gathering information related to the function and structure of the brain.
Scientific analysis by Immersion Neuroscience shows that the way we react and feel about a problem is very different when we talk about it. That's why group interviews or one-on-one interviews are not true. Group interviews, in particular, are not very effective because participants tend to follow the crowd and hide their true feelings.
What are the advantages and disadvantages of Neuromarketing?
Advantages of neuromarketing
– Neuromarketing helps businesses better understa
nd customer behavior with the help of filling the gap between neuromarketing and traditional methods
– This form of neuromarketing not only helps to get data from the information provided with the help of customer survey questions, but also helps to observe eye movements and facial expressions. or the change of the mouse pointer.
– Neuromarketing works as value for money with the latest tools and techniques, extremely helpful in providing quality of insight but at a lower price.
– Marketing using neuroscience also helps increase the credibility of the results because it reaches the unconscious mind of the customer. This helps businesses understand customer reactions and understand customer decision-making patterns.
What are the disadvantages of Neuromarketing?
– Some people think that applying neuromarketing means we are invading the customer's brain, lacking privacy.
– This form of neuromarketing requires specific skills to be effective.
– Neuromarketing also requires proper collaboration of different streams like psychology with marketing
Why should you use neuromarketing?
Tell a more engaging story
A study after finding out what Neuromarketing is has shown that: When people listen to stories with elements of conflict, surprise and emotion, their brains will naturally produce Oxytocin. This is the love hormone secreted from the brain. This will help brands attract audiences and convey messages that touch their emotions. From there, customers will have a natural love for the brand . An example of this is that many brands always focus on building a brand story. Save budget spent on advertising
In the 2018 SuperBowl study, M&M's brand advertisement ranked second in the list of advertisements that attracted the most viewers. The ad created emotional engagement at its peak, but after just a few seconds, people's engagement with the ad plummeted. If using Neuromarketing in this case, M&M's can completely cut out the last 10 seconds of the advertisement and save the budget up to 1.5 million dollars.
Build more effective advertising campaigns
The main goal of Neuromarketing is to find the most effective way to build advertising campaigns. Researcher Roger Dooley used Neuromarketing to track customer behavior in print advertising for children's items.
To gauge the effectiveness of an ad, Dooley used a heat map to track what viewers were paying attention to, whether they were reading text or just looking at the image.
In the ad image example below, the child actor is facing straight towards the viewer. Results from the heat map have shown that most people focus on the image of the baby much more than the content placed right next to it. However, surprisingly with the opposite image, the child actor's eyes were directed towards the content next to him. At that time, viewers pay more attention to the content. This happens because people will focus on looking at the same thing that the character in the picture is looking at.
FOMO syndrome – obsessive fear of missing out
FOMO is a widely applied tactic in marketing and sales. Especially in the current technological age, this syndrome is increasing. A study from the Stern School of Business found that people respond twice as much to loss as they do to gain. Businesses can completely apply this in marketing. Mention the fear that if customers don't buy your product, they will accidentally miss out on an opportunity. Effectively applying this secret will help businesses sell more products.
Easily measure the appeal of product packaging
Brands should consider applying Neuromarketing in assessing the emotional response of consumers when they see different product packaging. From there, choose the design that has the most impact on customer emotions and the location of product information.
The Frito-Lay brand has cleverly applied Neuromarketing to find packaging that most attracts women. The company came to the conclusion that packaging with healthy ingredients on the front evokes better responses from this target group. As a result, the entire packaging was completely innovated, displaying images of clothing or spices, highlighting the natural ingredients in Frito-Lay's snacks.
With the above sharing, you surely understand what neuromarketing is and the issues surrounding this term. Although neuromarketing is new, in fact it can still be applied very well to businesses' marketing campaigns. Seize this opportunity to become a market leader!