Neuromarketing!

Neuro whaaat?

Well...before social media, businesses would market through ads in the paper, billboards or through the sponsoring of events right? In today's world it is all about marketing for better results, whilst spending the least amount of money. With the surge in small businesses it is important to understand your customer and focus on marketing towards your niche.

Neuromarketing hopes to solve the challenge small businesses face, how do we get seen whilst staying within a tight budget? Neuromarketing is described as a commercial marketing communication field that aims to understand how your customers brain works and what affects your marketing will have on them. In Neuromarketing there are two basic methods used: Functional magnetic resonance imaging (fMRI) and Electroencephalography (EEG). 

TECH STUFF BELOW....

fMRI involves measuring the brains activity by detecting changes associated with blood flow. fMRI uses a powerful magnet to track blood flow as the subject responds to audio and visual cues. This method basically (in normal terms) accesses the pleasure centre that lets researchers know how customers are really responding to marketing. 

EEG is much cheaper than fMRI and records the electrical activity of the brain. This method is non-invasive and involves attaching electrodes to the scalp. EEG tracks emotions such as anger, sadness, excitement and lust through the changes in brain activity. 

Now that we have a basic understanding of the methods, what information has it provided us and how can we start implementing these practices? Neuromarketing has been around for about a decade and the information collected has been awesome! PayPal, Hyundai, Pepsi, The Weather Channel and Ebay are among some of the many businesses now using Neuromarketing, let's see what has been discovered! 

Thanks to iMotions, they have given us some tips on the findings from Neuromarketing:

1. The Importance of Eye Gaze
Have you noticed that posting a selfie on your business page or a face tends to get more likes or interaction? We certainly have! Research says, when posting a picture of a face, ensure it is looking either at the camera or at the product directly. You can read more about this at https://www.neurosciencemarketing.com/blog/articles/baby-heat-maps.htm

2. Packing is everything
We all know how important packaging is, how the first impression of your product can mean a conversion to sales or a simple scroll through to the next business. Neuromarketing has revealed customers had a negative response to shiny packaging and preferred a matte finish!

They also found choosing the right font for your packaging or business, requires some serious thought. When trying to convince a customer to perform a task or follow instructions the font should be clear and simple. HOWEVER, if you want a customer to remember important information or to catch their attention complex fonts can be a great option (logo, tagline).

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3. Colour is key!
We all know colours make us feel things, so it only makes sense to chose colours based on how you want your customer to feel. Neuromarketing experts have actually grouped colours into subgroups as a guide to show how they could be used in marketing. An example is the colour blue: recommended to be used with attracting professionals. Have a read of this seriously interesting article on colours https://www.maistro.com/blogs/impact-colour-advertising-marketing-design/?blur_redirect=1532062070.535

4. Ad Efficiency
fMRI has been used as a efficient tool in testing Ads before they go public through the comparison of campaigns. You can learn more about this here https://imotions.com/blog/how-to-do-ad-testing-with-biometrics/

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5. Decision Paralysis
Keeping it simple, when we give the customer too many options they can be become overwhelmed and less likely to purchase. It is important to provide fewer options BUT more guidance when shopping (an example is through the use of AI, live chat or chat bots). This allows the customer to chat when they need to ask questions and get an answer immediately.

Whilst chat bots are still in the early stages of development, they can be an effective way to combat decision paralysis. We use Live chat functions really effectively during JPorter Clothing launches on our site.

6. Loss Aversion
This relates to keeping products limited, customers hate to feel they are missing out on something other people have (FOMO right?!). 

Check out this article on this type of method https://www.neurosciencemarketing.com/blog/articles/loss-winning.htm

7. Anchoring
We love this one! When making a decision Neuroscientists have discovered that we are rarely able to evaluate the value of something based on its intrinsic worth, but instead compare it with the surrounding options. This is where your point of difference or extra 'flare' you can offer your customer is so important. If you are going to book a room and you are comparing two rooms at similar price but one of these rooms offer breakfast included or a free coffee you are most likely going to choose this option. It can be implemented in every business, customer experience is everything. 

8. Website Layout
Colours, layouts, fonts, sizing and pictures are important aspects when attracting customers. Neuromarketing encourages testimonials, social media shares, social media icons, number of happy customers, "Best Sellers", reviews, pricing pages, early bird pricing and strategies, trial periods and most importantly ACTION buttons.

9. Memorable Headlines
If you surprise the brain your advertising campaign will be much more effective.

Well, we have learnt so much already! We would love to hear from you guys if you have implemented Neuromarketing and if you have experienced the benefits of this facsinating research.

Dreamhunter Team x

Renae Porter