EP.25/ What Is Neuromarketing And How Does It Affect Purchasing Decisions?
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Mentioned Links:
Neuromarketing: What You Need To Know - Harvard Business Review
15 Powerful Examples of Neuromarketing in Action - Imotions Blog
5 Neuromarketing Tactics To Enhance Marketing Strategy - Wix
“Consumers make a subconscious judgment about products “within 90 seconds of initial viewing and between 62% and 90% of that assessment is based on colour alone.”
Hello! Welcome to episode 25! Wow... it's been a long time, I know. Do tell - did you notice I was gone? In case you didn't, I have lots to tell you!
In this episode, I give you an update on where I’ve been and share some major Naturspired™ news with you all! I also expand on what neuromarketing/consumer neuroscience is and how it connects to fashion and why it's an important tool for shifting the fashion industry from the inside out.
With that said, let’s dig in.
Important updates:
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WHAT WE’VE STOPPED DOING:
Brand Consulting Services: No longer offering consulting services under the Naturspired umbrella.
Still will be taking on some clients on an exclusive/freelance basis but this will no longer be the focal point of the business.
What Is Neuromarketing And How Does It Affect Purchasing Decisions?
FIRST THINGS FIRST: WHAT IS NEUROMARKETING?
The field of neuromarketing, sometimes known as consumer neuroscience, studies the brain to predict and potentially even manipulate consumer behaviour and decision making. Neuromarketing” loosely refers to the measurement of physiological and neural signals to gain insight into customers’ motivations, preferences, and decisions. Its most common methods are brain scanning, which measures neural activity, and physiological tracking, which measures eye movement and other proxies for that activity.
- Harvard Business Review
4 KEY NEUROMARKETING TACTICS WE COVER:
1. Eye tracking/mouse-tracking technology:
Eye-tracking technology measures visual focal points and excitement correlated with pupil dilation, revealing a consumer’s emotional response to marketing and advertising campaigns. Eye-tracker systems can include software like heat maps and gaze plots, and the data it produces can help improve campaigns and brand assets such as website design, creative advertising, and product packaging.
2. Color usage:
Consumers make a subconscious judgment about products “within 90 seconds of initial viewing and that between 62% and 90% of that assessment is based on color alone,” according to research by Colorcom.
Hence why a lot of greenwashing uses the colour green to convince you that a product/service is indeed better for the environment.
3. Emotion response analysis:
Facial coding uses webcam technology to analyze consumers’ facial expressions, measuring their emotional response to content and branding. Using data that detects key emotions such as anger, contempt, disgust, fear, joy, sadness, and surprise, marketers can tweak campaigns to achieve their desired results.
4. Psychological triggers:
Psychological triggers that create an emotional response are cost-effective neuromarketing methods that influence consumer decision-making. One of the most powerful methods is social proof – the idea that people will conform to be liked by, associated with, or accepted by an influencer or society.
According to a Frontiers in Psychology study, neuromarketing has “demonstrated the relevance of the so-called social influence in social networks: users tend to imitate the behaviors of others.” Fear of Missing Out (FOMO) is one psychological trigger closely related to social proof.
Learn more about each tactic in detail and how they connect to fashion in this episode. I’ll also be providing tips to help you protect your privicy and more.
