One of the most difficult things when it comes to running a Business is understanding consumer behavior, in order for you to keep them satisfied and always engaged with your Business, you will have to study them and the way that they behave, what they want, what they don’t, what they find interesting and what they do not.
Businesses are always looking for ways to make an impact on the market with new products or services, but most importantly a product or service, has to be marketed the right way and shown to the right audience, so that is where application of Neuroscience in marketing (Neuromarketing) comes in handy. Researchers are using tools like functional Magnetic Resonance Imaging (fMRI) and electroencephalogram (EEG) and lots of other techniques to find stimuluses for the consumers that reflect their desired behaviors, like trying something new, to use that in marketing.
Creating a marketing campaign with the stimuluses in focus can really give Businesses a good ROI (Return on investment) and your products or services getting the recognition that you want from them.
Neuromarketing is way to understand if a Consumer will pay attention to an Ad or not, before launching the Ad. It helps Businesses and their marketing team to create Ads in the most effective way that they can. If consumers do pay attention to the Ads, that will that influence them emotionally? If so, that will influence their buying decisions.
So, if Neuromarketing is all about understanding, consumers preferences and understanding their behavior, how can we apply it in practice and who do we apply it for? Truth is, you can apply Neuromarketing for everyone who has an opinion on your product/service or Business.
We will provide you some examples of how to use the information from Neuroscience studies to your apply to your Ad campaigns.
Ads that include people are way more effective than those who don’t, if you show a consumer a poster that shows a deal like 40% off for example and it includes a person, the first thing they are going to do is look at their face, that is why almost every time people used in these kind of ads have a happy, excited expression on their face, so that the consumer can shift their focus on to the textual content and get informed. So, if the person you have displayed in your poster is looking at the product you are trying to market, the viewer will look at your product more.
We have all been there, we see something that we instantly want, whether it’s the color or a logo or a graphic representation that makes us want to try the product out. Packaging is really important and it directly influences consumer decision. This is the case where what’s inside is not the only thing that matters.
We have talked about it before on previous topics, that Consumers like to have a lot of options, but sometimes that can cause something we call “Decision paralysis”, it is that time, when the consumer is in front of too many options and they can not choose what they want to get and so they end up not getting anything. Less is more sometimes and having a wide array of choices can confuse the customers.
Neuromarketing is used to affect the emotional behavior of Consumers, with that we can influence their buying decisions. You need to keep your customers as engaged as you can with your brand and having a good idea on the emotional evaluation that they show towards your products or services, is key for every Business. Customer satisfaction is what we are after and understanding their behavior, will help you in this area.
Ask anybody if they would like to lose or gain, the answer is always going to be gain. Loss aversion is the tendency to prefer avoiding losses to acquiring equivalent gains. People do not like to lose, but most importantly they do not want to miss out on opportunities, that is why we see Ads that have sayings like “Hurry up” or “Do not miss it” incorporated, because they work and the reason why they work is because they wake a sense of urgency in the consumer which influences the consumer decision and that is so useful if you are making sales and you want to pace the selling of your products.
Sometimes Businesses put packages or bundles in front of each other, like a competition to make their consumers choice easier. Prime example of it is Popcorn at the cinema, they have 3 packages Small Medium and Large, they put the Medium’s package price 0.5$ less than the Large one and People immediately say I won’t let the Large Popcorn go for just 0.5$, but they might not even be that hungry and the truth is, the medium Popcorn is not the Cinema’s goal at all, getting them away from the BIG DECISION of Small to Large they have an X factor, Medium Popcorn and they make the transition smoothly. Sometimes just the first impression is what matters, consumers don’t tend to go on details about other specifics.
During your Ad campaigns focus on what your Customers value most, time. Everybody seems to be running out of it lately and one of the best things that you can do for them is show them that your product or service is going to save them time and it is convenient for them to use.
How do you keep your customers engaged? Reward them. That is what they deserve for being loyal to your brand, they understand that and because of it you should show appreciation, if you do, they will understand their value to your brand and keep on being your loyal customers.
The same idea is used almost in every Business, even Videogames, it is studied that the ability to get rewarded and working towards it supplies the users with dopamine which in a neurotransmitter that is responsible for positive emotions and the sense of reward.
We have always seen it in shopping malls but not only the whole 49.99$ price instead of the 50$, why is this something that has been used for centuries, well as we mentioned in the first point, people see what they want to see and this type of pricing is called the “left digit effect”. Seeing a price that is 9.99$ instead of 10$ we tend to think of it as 9$ and this has a huge difference especially in small number prices.
Headlines are what we remember from an article without even reading it and most importantly what will get people to read an article, doesn’t matter if it’s a traditional newspaper, a Blog article just like the one you are reading now, what’s important is, to get people going and make them interested.
That will help your Business on SEO, it will help your Website as well. For example, this Blog post would you be reading it if it was not well structured with tags and titles? We didn’t really think so.