We are all emotional. According to American Nobel Laureate scientist Herbert Simon, human rationality can only be understood fully if the role of emotions is examined. It further explains how emotions can outright determine the outcome of several decisions people face daily.

In marketing, understanding human rationality is key to being able to ultimately sell more.

Enter neuromarketing. This developing trend is one of the most hotly discussed topics in the industry – and for good reason. It has the potential to completely change how marketers approach their strategies.

But what exactly is neuromarketing and does it really offer significant advantages over traditional methods? Read the rest of this article to find out.

What Is Neuromarketing?

In the most basic terms, neuromarketing is the application of neuroscience in marketing. Technologies that observe and determine brain activity are used to identify people’s physiological responses to marketing strategies and messages.

Neuromarketing also uses biometric data including a person’s heart rate, galvanic skin response, facial coding, eye movement, and others as bases for its findings.

Here are a few examples of how neuromarketing is used:

  • The brain is examined using EEG imaging to see the emotional response a product or an ad elicits in a person.
  • Eye movement is tracked to identify which areas or parts of a webpage catches the attention of the user the most.
  • Using an fMRI scan, marketers determine which version of their advertisement generates the most activity in the brain.

The findings of these kinds of studies can inform several areas of business including marketing, product development, and even pricing.

Although interest in neuroscience of consumers rose in the mid-2000s, several studies in the last half decade have made it a frontier science.

What Are the Benefits of Neuromarketing?

Traditional marketing research relies heavily on consumer self-reporting. Marketers use interviews, focus group discussions, surveys, and the like to get feedback from consumers. This requires conscious effort from the target market and therein lies the issue.

Consumers cannot always be expected to accurately report their buying behavior. They may also not be aware themselves why they make certain purchasing decisions.

With neuromarketing research, the sub-conscious decision-making of consumers is examined. This means, there is no risk of misreporting. Some studies can even be done without the consumers knowing about them, which keeps the results as honest as possible.

Is Neuromarketing the Only Marketing Solution Necessary?

Despite the clear advantages this innovative way of market research promises, it is not enough by itself. If anything, it is the perfect complement to traditional marketing. The former can fill in the gaps that the latter often has and vice versa.

Traditional marketing research is still necessary in determining the specifics of the marketing strategies to be employed, especially if there is a particular target audience for advertising. On the other hand, neuromarketing provides essential insights into the more abstract behaviors of consumers.

As mentioned before, emotion-based decision-making is only a part of the big picture that is the human rationality. Every step closer to understanding that big picture helps.

For more insights into modern marketing strategies and other related subjects, read the rest of our blogs.

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