Bringing Brands Closer to Consumers Through Neuromarketing - A Strategic Perspective

Consumer behaviour is dictated by what’s happening in the brain, however, traditional market research studies failed to detect nuanced human behaviour especially when it pertained to reaction to advertising stimuli, Neuromarketing methods like #eyetracking, #fMRI etc. have changed all that.

In a study to assess true impact of consumer attention on branding, two US experts analysed consumer attention span displayed during presentation of adverts and correlated with channel browsing data. They found that constant brand exposure decreased evasion. Traditional studies wouldn’t have traced this nuanced behaviour.

In another analysis of eye tracking studies conducted for a retail store, interesting discoveries were made regarding the consumer thought and action. A historical analysis showed attention spanning from top-left to centre of advertisements and there was no role for brand name during consumer purchase at retail store. Hence, during display of video advertisements, static logo visuals of retail store was displayed in the centre of adverts, and this had an incremental effect on sale of different fabric brands.

There is convergence of behaviours and given the challenges of maintaining visual attention there is a strong potential for bringing brands closer to consumers via #neuromarketing methods like eye tracking.

The convention brand trackers have always measured brand awareness levels and brands have always got robust information. However, it has been a challenge in understanding consumer behaviour. Using a combination of conventional brand tracking information along with neuromarketing data can provide marketers with rich insights.

Here, we study the application of neuromarketing using Keller's Brand Equity Model. One of the components of the model is brand resonance i.e. how much emotional connection does your customers have with your brand? And how does that translate to behavioural loyalty? fMRI data like attention, scepticism etc when combined with traditional brand tracker information and transactional data can provide answers to the resonance question.

Stratzie Consulting has developed innovative ways of extracting insights from neuromarketing data and developing smart strategies. Don't hesitate to contact us if you need assistance in resolving marketing issues.

Neuromarketing And It‘s Strategic Use in Brand Tracking Research

Neuromarketing techniques have been used since last two decade, however recently it has caught the attention of marketers – because it pin points the precise reasons of customer thoughts and action.

#Neuromarketing methods like #eyetracking when used in combination with traditional research methods have provided marketers wit rich insights. However, brand tracking methods over the years have remained practically the same – every month or quarter respondents are probed about brand awareness and other factors at a conscious level. The answers on most occasions are on predictable lines. Measuring true brand engagement was always a tricky affair. #Neuromarketing has changed all that. It is able to measure the level of emotional arousal of brand elements with ease in relation to competitive brand set.

In one study neuromarketing methods like #EEG were used to evaluate customer satisfaction with a beauty treatment. Researchers found that customer satisfaction correlated with six emotional states of mind when evaluating facial beauty and brand messages. This brings us to the question: should we disregard conscious answers to brand awareness questions?

The correct answer is brand marketers should view conscious ansers in the context of sub-conscious answers. The other interesting aspect of use of neuromarketing techniques in brand tracking is the use of small sample size that accurately represents the population base. This has been made possible due to the advancecements in #machinelearning techniques. Hence, neuromarketing enables extraction of accurate consumer response that in turn results in better prediction of consumer engagement with the brand.

In this digital age where social media and content is kiing, developing appropriate brand strategy becomes a complex affair. Strategy frameworks will have to frame consumer behaviour issues and will have to accomodate for measurement of consumers’ emotional attachment with brands. It’s here neuromarketing becomes very useful for bradn marketers. Let's study an application of neuromarketing when using Keller's Brand Equity Model. The model has 4 levels, one of which is brand response i.e. what do i think or feel about you? Instead of relying upon stated answers provided by research participants brand marketers can rely on #biometricdata like fixation duration, fixation count, time to first fixation etc to assess the depth of customer affinity.

Stratzie Consulting has developed innovative ways of extracting insights from neuromarketing data and developing smart strategies. Don't hesitate to contact us if you need assistance in resolving marketing issues.