How Consumer Neuroscience Helps Marketing
Can higher prices increase sales? Do consumers connect price with quality?
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.
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.
- How Can Neuroscience Make Marketing More Cost-Effective? – Newly developed tools give scientists a direct look into the workings of the brain in real time. Combined with social psychology and behavioral economics, this new field has revealed the process of decision making. That has a direct impact on marketing and advertising. However, over 99% of businesses rely on hunches, trial and error, and incorrect or even misleading information. Consumer neuroscience has revealed secrets about how people really make decisions and can give your business a huge competitive edge.
- Why Hire a Neuromarketing Firm for Your Online Marketing – Advertising has been around for over two centuries. Using simple psychology and some guesswork, a range of techniques has been employed to persuade consumers. Some useful methods have been developed through trial and error. The internet, however, works differently and requires a new approach. That’s why every major internet company, from Google and Amazon to Facebook and Twitter, has hired neuroscientists to improve their user experience and develop stronger customer loyalty. They are applying more effective techniques that trigger decision-making. You can benefit from the same time-tested neuromarketing techniques.
- What Neuromarketing Reveals about Consumer Behavior on the Internet – Some recent neuroscience discoveries have an enormous impact on understanding consumer decision-making on the internet. For example, it has been shown that web users glance at websites quickly and unconsciously. They click faster than their brains can think thoroughly. Their attention span is extremely short and their focus is very narrow. Capturing their attention with neuroscience-guided web design can double, triple or quadruple leads and sales.Applying cutting-edge consumer neuroscience research can dramatically increase sales and lead generation.
- 5 Ways Online Neuromarketing Can Boost Your SEO and PPC Conversion – No matter how you promote your products or services on the internet, conversion is the ultimate goal. If your search engine optimization and pay-per-click advertising campaigns don’t generate leads or sales, you simply waste money. Using the latest, research-based techniques effectively can increase conversion rates from 100% to 500%. Relatively simple changes in your web design, SEO and AdWords campaign can produce surprisingly large benefits.It’s easy to understand what that kind of performance means to any business. Achieving it, though, requires expertise. It works for Amazon, Google and Facebook. It can work for your business.
- 7 Neuromarketing Techniques to Increase Your Online Profits – Every new lead or sale involves multiple decisions by potential customers. It all starts the moment your marketing materials are visible. The instant new visitors come to your website, for example, the clock begins ticking. You have just seconds to convince them not to leave. Most people click the browser’s back button in less than 15 seconds. If they stay, you have a chance to engage them in learning more about what your business has to offer. Consumer neuroscience gives you a decided edge in helping people choose your products and services, instead of your competitors’.
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.