Marketing revolves around understanding consumer choices and preferences. It is all about understanding consumer pain points and producing content to connect with those points, and this could include a series of trials to analyse what they respond to. Neuromarketing becomes helpful to understand their psyche and thus produce strong and customer centric marketing campaigns.
How do customers make their purchase decisions?
Be it online or offline channels of shopping, customers go through a series of decisions while browsing before they eventually pick out their choices. Unknowingly, each stimuli is processed in their brains, compared to past experiences, decision is made which is then translated to arm movements for purchase.
Every step is an opportunity for a brand or company to influence the target audience and form a bias in their minds. This is where neuromarketing steps in. Though relatively new in the field of marketing, neuromarketing is becoming more popular as the go-to method for analysing and optimizing marketing strategies.
How are companies utilising neuromarketing?
Neuromarketing is based on the assumption that information can be derived from the human brain. In the marketing world, this translates to information that consumers don’t spell out in words, either because they don’t know how to or because they are not willing to reveal them.
Traditionally, information was collected through surveys, presentations, advertisements etc. With the advent of neuromarketing, more advanced techniques like functional magnetic resonance imaging or fMRI is used to interpret data.
Is a brain scanner and associated assumptions 100% accurate?
Truth is, it need not be.