Neuromarketing is a fairly new term in marketing, and it will be a while before knowledge regarding the concept itself becomes more widely known. As it happens, the exclusivity is part of what makes neuromarketing more effective today. Stay with us as we discuss the basics of neuromarketing and a few key techniques that are instrumental in making it such a success.
What is Neuromarketing?
Smartboost introduces us to what is neuromarketing and how to apply it effectively in real life scenarios, with a detailed analysis of the human brain, various emotions we feel and the key methods used in observing the human decision making process under various types of stimulation. Based on their introduction, neuromarketing can be simplified and subsequently defined as a marketing strategy that combines market analysis with direct human brain analysis.
The goal of neuromarketing is centered around predicting customer behavior and how various steps taken would impact multiple associated elements such as impression, appeal, perception, etc. After taking a brief look through the various neural techniques used in this process, we should be able to understand the huge, untapped potential of neuromarketing better.
The 3 Prime Categories
Neuromarketing techniques can be divided into three primary categories, which would be:
- Methods involving the central nervous system
- Methods involving the peripheral nervous system
- Methods involving human behavior
The three main categories can be be further subdivided into multiple, more specific methods, but we are going to discuss only three of them next for the sake of brevity. Check the link above for a more comprehensive explanation of various neuromarketing techniques.
The Electroencephalogram machine is no different to the average EEG machine used for medical purposes, but it differs in its functionality of course. The EEG machine is portable now, because these can be lighter than a cap and more akin to shower caps. The EEG machines are used to collect valuable data by detecting small changes in response to various stimulations. The data collected can be further categorized under:
- Attention/attraction – how much attention it can gather by attracting attention
- Affective valence – perception of the concerned stimulus as appealing or repulsive
- Engagement – how long it can hold the attention; often based on relevance to the individual or target group
- Memorization – chances of the stimulating content being placed in the person’s LTM
Functional Magnetic Resonance Imaging (fMRI)
fMRI notes changes in blood oxygen absorption within the brain via an MRI machine. It’s expensive and not practically applicable in all scenarios, given that it is immobile and the participants must stay very still throughout the data gathering process. These factors can and often will affect the participant’s responses. Nevertheless, the utility of fMRI for spatial resolution of brain activities is quite impressive.
MEG helmets are excellent for detecting brain activity and patterns to concerned stimulations through detection of changes in electromagnetic pulses and fields within the participant’s brain. They complement the EEG machine adequately by providing excellent temporal resolution, although they are significantly more expensive.
If these techniques are applied properly, along with the other methods of neuromarketing, the ensuing results could be unprecedented in their success rate, as compared to any other method of marketing that we have used so far. However, due to the complicated lab-based procedures involved in neuromarketing, it remains an exclusive marketing discipline as of 2020. This exclusivity is also the reason why neuromarketing is more likely to produce amazing results as of now.