How Consumer Neuroscience Helps Marketing
- Can higher prices increase sales?
- Do consumers connect price with quality?
Through brain imaging, researchers monitored brain activity during wine tasting. In all tests, the wine was in the same price range. When test subjects were told the wine cost $90 per bottle, higher levels of pleasure were detected in the brain than when a $10 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 is the goal. Your gut feelings about what works may not be correct. Your ad agency often gets it wrong.
Using brain imaging 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 works because it is based on a thorough understanding of how the human brain functions.
- 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, Behavioral Economics, and Data Analytics, this new field has developed a new understanding of the decision-making process that can’t be revealed through traditional market research. The new understanding 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 in persuading their customers.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 to Outsmart Your Competition – Advertising has been around for over two centuries. Using simple psychology and some guesswork, a range of techniques has been employed. Some useful methods have been developed through trial and error. Now, as competition heats up in every industry, the trial and error approach is simply too expensive. With Consumer Neuroscience providing more insights, more and more businesses can adopt Neuromarketing.That’s why every major company, from Google and Amazon to Coca Cola and BMW, 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 – Some recent Neuroscience discoveries have an enormous impact on understanding consumer decision-making. For example, the letter case in the brand name can have a subtle influence. When the brand name is written in lower case, it appeals to female shoppers better. In contrast, when the brand name is written in upper case, it forms a stronger connection with male shoppers. On the internet, 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 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 Google Ads 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 Sales – Every new lead or sale involves multiple decisions by potential customers. Consumer Neuroscience gives you a decided edge in helping people choose your products and services, instead of your competitors’.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. If you operate a brick-and-mortar store, sounds, scent, and color can all influence buyers’ decisions unconsciously.
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 requires a thorough understanding of its principles. It needs to be an integral part of your entire campaign.