Neuromarketing Services

How Consumer Neuroscience Helps Marketing

Can higher prices increase sales? Do consumers connect price with quality?

Neuromarketing Consumer Neuroscience

Using fMRI scans, researchers at both Stanford and Caltech monitored brain activity during wine tasting. In all tests, the wine was the same. When test subjects were told the wine cost $45 per bottle, higher levels of pleasure were detected by the fMRI scans than when a $5 per bottle price was mentioned. Price can definitely influence the perceived quality of a product. What this means for Neuromarketing is that lower prices may not increase sales. A higher price can increase a shopper’s subjective estimate of the quality of the product and sell more.

What Marketing Secrets Has Neuroscience Revealed?

All marketing is about decisions. Convincing consumers to buy from your company is the goal. Your gut feelings about what works may not be correct. Your ad agency often gets it wrong.

Neuroscience research has discovered that more than 95% of decisions that people make are unconscious.

Using functional MRI (fMRI) scans during decision making, researchers found that many decisions are made using the oldest parts of the brain. Those brain structures deal with instincts, danger avoidance and pleasure. Such primitive reactions are made very quickly, without thinking or analysis. Only when a decision requires extensive reasoning are other parts of the brain activated. What that discovery means to marketing is striking. Seemingly minor changes in your messages can deliver stronger positive responses by your customers.

Neuromarketing or consumer neuroscience works because it is based on a thorough understanding of how the human brain functions.

Increase Your Revenues with Consumer Neuroscience

As you learn more about the connection between brain activity and decision-making, you’ll begin to see why revamping your marketing techniques is urgently needed. By triggering positive decision making, you can increase conversion rates, lead generation and sales. Neuromarketing isn’t a trick. Making it work for your website, pay-per-click advertising and SEO efforts requires a thorough understanding of its principles. You’ll find many insights on this website. Implementing those insights, however, isn’t as simple as it seems. Neuromarketing needs to be an integral part of your entire campaign.

How Cognitive Biases Influence Buying Decisions – Learn how to persuade more potential customers to buy your products and services by understanding the Neuroscience of consumer decisions.
Price to Sell with Relativity Bias – Double or triple your sales by setting prices the right way. Help customers choose the right options at the right prices.
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