Neuromarketing Research Means Better Branding
Updated: Sep 8, 2019
Neuromarketing, the latest area in market research nowadays, might sound rather complex, doesn’t it? Fortunately, there is a new technology that makes Neuromarketing fairly easy and beneficial. It is a start-up based on the newest technology of neuroscience, that measures the genuine subconscious preferences of individuals and customers.
What's Neuromarketing then?
Simply put, it is when the principles of neuroscience are applied to the studies and strategy of marketing. When marketing a brand, the main thing to consider is what the brand represents in the eye of the customer. That’s where this new technology comes in; by allowing customers or employees to play a fun and simple game, we can investigate subconscious brand perceptions in order to improve brands’ marketing strategies. By receiving a “brand diagnosis” based on the answers from the game, the brand can easily find answers to common business questions such as “why do I lose market share?” or “why do customers churn?” that are usually tremendously complicated to answer.
The game is very similar to Tinder (with a more professional use): A player is usually being shown an image of a person associated with an item (e.g. a lipstick of a makeup brand), and a simple yes or no question. The player will then ‘swipe’ right or left to answer the question. The neuro-based technology behind this simple game contains data of traits that have already been associated with each image of a person in the game!
Let us take an American retail company that sells only XS-S one-sized clothes for example. The brand opened its first retail store in 2009, so we could assume that after 10 years, the company altered its marketing strategy, and might also experience different types of customers shopping at their store. Playing the game for that company could include a question such as “Will this person buy this item?”.
After completing the game, the answers are applied to a machine-learning-based program with neural-network techniques and return the associative subconscious results of the players.
So, if 100 players swiped yesto a picture of a person associated with the traits “skinny” and “prestigious” for example, but swiped noto a picture of a person associated with the traits “fat,” “cool,” or “trendy” – the brand managers could assume that on average, people might think their brand is mostly for skinny looking individuals, and do not view it as a trendy or a cool brand.
By doing so, this brand or any other brand using this unique Neuromarketing technology, will receive actionable insights with the recipe to the most reliable and useful information needed for powerful branding.
And more than that, companies could also benefit from using it from within the company itself by measuring employees’ level of satisfaction in a company, what those employees think about their new boss, and so much more. Nowadays, most companies are using surveys to gain that information. But unfortunately, surveys come with major confirmation biases and most of the time could not be used as a very reliable solution.
This technology has been developed by NeuroApplied; which unlike traditional market research methods, allows you to understand your customers’ deep subconscious thoughts and quantifying them. It does it in a fast, useful, and fun way.