Neuromarketing: A New Technique in Understanding Customers

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A new marketing method is gaining momentum in recent years. This new technique is increasingly being adopted by market researchers and brands alike. Neuromarketing is becoming popular among marketers these days because of its new approach to gaining deeper understanding of consumer behaviour. It is a common belief among marketers that emotions are what initially drive consumers to engage with a brand. These emotions play a major factor in a consumer’s purchasing decision. Neuromarketing is a fairly new marketing concept that applies neuroscience to market research in order to measure, analyse and influence consumer behaviour towards a brand. It uses advanced technology like electroencephalography (EEG), eye tracking, and facial coding to capture and understand a consumer’s behavioural response to a product. EEG tracks and measures how the human brain responds to stimuli. For example, a test subject may be asked to watch a commercial video. By studying which parts of the brain are stimulated while the test subject watches the video, neuroscientists can gauge if he likes the commercial or not. Facial coding, on the other hand, analyses the facial expressions of a consumer during a product or ad encounter. Results gained from these methods provide brands the needed insights about their product and how consumers perceive them. According to market analysts, this new marketing technique trumps traditional methods of market research such as focus group discussions and conducting surveys which tend to be inaccurate. Big brands such as Microsoft and Frito-Lay are already using this new method to test their products. Applying neuroscience in marketing can help marketers and brands alike as this enables them to develop strategies that further influence consumer behaviour. In addition, brands can make the necessary adjustments to their product or ad based on consumer perception. This is not to say that every business should invest in neuromarketing. However, it is important to note that for a business to reach a wider market, it must be able to understand costumer behaviour. For business start-ups trying to make their mark in a stiff market with limited resources, neuromarketing is highly improbable. However, there are other steps that they can take to get customer insights. Going back to the basics of providing quality service is one. Established organizations such as Flat Planet invest heavily on service quality and product value. Our focus as an organization is on high value talent that is accessible for all. By providing personalized service to our customers, we deliver results that add value to the business. We understand our customers well because our team of highly skilled professionals constantly communicate and collaborate with key persons of an organization, thus solidifying relationships in the process. By continuously looking for alternative ways to better understand the customer and fulfill their needs, businesses can improve their product or service. And sometimes, the basic things can make all the difference.