Just like the rest of the world, the COVID-19 aftermath has left many businesses too grappling to stay afloat in the myriad of changes being thrown over time. The market is yet to be stable, and some businesses are still struggling for survival, let alone long-term success.
While we are not exactly out of the woods, for now, we may be on the path to recovery, provided we adapt to the changing trends and needs of our target audiences. If we do not adapt, we are at risk of falling behind. And hence, it is important to find the best opportunities for growing each business, drowning out the unnecessary noise surrounding us.
EEG, or electroencephalogram, a vital part of neuromarketing, records brain activity and brain waves. Small sensors or electrodes are attached to the human scalp, which pick up electrical signals being transmitted by the brain. These are recorded on a machine and decoded by researchers.
EEG is widely used in neuro research to track the cognitive behavior of target consumers and predict their buying behavior.
What are the steps for EEG?
From identifying the research question and target audiences to arriving at predictions, there are a few steps that entail EEG tracking.
Neuromarketing scientist Ale Smidts introduced the term ‘neuromarketing’ in the Netherlands, in the year 2002. He explained how EEG and fMRI methods of research could help to predict and interpret consumer behaviour. He also explained how these methods could collect insights into how consumers process commercials and how impactful commercials may be.
Neuromarketing essentially means applying neuroscience methods of research to collect data and insights about a variety of marketing questions. For example, EEG and fMRI methods are utilised to analyse advertising and marketing campaigns.
The quality of a society depends largely on the quality of its governing bodies. More effective the governments and the ministries, the higher the quality of life of its residents. As such, there is an increasing focus on innovations and programs to devise creativity and changes in governing bodies, with the aim of improving the quality of their public service and duties.
However, in the process of moulding civil servants into more efficient risk takers and creative inventors, there are several challenges associated with applying behavioural economies.
Neuromarketing research is based on deep-diving into a consumer’s brain and producing insights that can be converted into immediate action points. Many successful brands have found success with this branch of research and can be applied in different settings.
Is Neuromarketing usability research suitable for every brand?
Neuromarketing research need not be applied by every brand, despite the benefits over traditional marketing research processes. There are a few basic requirements to evaluate usability, the foremost of which is – there should be an exact research question. For example, do you want to know if your brand or company website connects with your consumer or is it confusing?
While you try to answer the above question, you may discover that a traditional research method may actually be more suited for you.