Confessions of a Neuromarketer Part 2: The Power of Neuromarketing
As I mentioned in an earlier post, our decisions are mainly driven by neural processes that take place at the non-conscious level and can’t be influenced by our will. Kahneman (1) describes the mind as a cohabitation of two cognitive processes, which he labels System 1 and System 2. System 1 represents the non-conscious mind, which is automatic, reacts quickly, and relies on well-known patterns. System 2 symbolizes conscious cognitive processes that take longer to operate and require direct attention. System 1 operates with stereotypes and is highly influenced by emotions. It is in charge of automatic actions that don’t require conscious processing every time they are performed (like writing or driving). System 2, on the other hand, is indispensable to the learning process when acquiring new skills that require a lot of attention and focus. It operates with concepts and abstract representations, and it is responsible for the “rational” assessment of our decisions.
The added value that neuromarketing brings to market research is that it starts where traditional research methods end – in the consumer brain. By analyzing people’s brain reactions to specific stimuli, researchers are able to assess the impact of each element on their brand preference or purchasing decision. The most common tested materials are: TV commercials, packaging, printed ads, website pages, communication messages, campaign concepts and claims. Neuro-based research can also be used in product development for testing different product features (shape, texture, feel, smell, taste, etc.).
Because neuromarketing proves to be a powerful tool, there is a false perception that it can be applied to everything and that it will resolve all business issues. Not true. Others expect neuromarketing to replace the creative process. Although neuro-research does not develop commercials, it can enhance the creative process or improve the product. It does so by providing accurate insights that could/can change perceptions.
With neuromarketing, companies are able to increase their media and advertising return (ROI) by fine-tuning their messages and communicating only those elements that have the highest impact. Therefore, they won’t be saying that “half of the money spent on advertising is wasted,” because neuromarketing helps them salvage that wasted half.
You can find the rest of my article right here.