What if every action we took…thought we had…was controlled by a mutable process?According to Nobel Laureate Francis Crick, they are. Harvard Business Review writes, “…called the astonishing hypothesis, all human feelings, thoughts, and actions—even consciousness itself—are just the products of neural activity in the brain.” So, what does this mean for the aspiring entrepreneur or small business? Neuromarketing is the future of marketing. With a basic understanding of how it works, you can elevate your small business to the level of the big players. You may be asking how all this works or where to begin. This post will attempt to answer those questions for you. As a full-time student and life-long nerd, I have been self-learning about neuromarketing since I heard about it a year ago. Now it’s my turn to pass some of that knowledge on to you.
Let’s start with how neuromarketing works. The best way to illustrate this is with an example from Google. Have you ever noticed Paid Ad links at the top of your Google search?
Of course, everyone has. Google makes money every time you click on those ads. If you were Google, wouldn’t it be great if you could encourage more people to click on them? Neuromarketing has the answer…color.
Color in Neuromarketing – Neuromarketing Applications in Everyday Life
All search links on Google are colored in blue. Google asked, is there a certain shade of blue that was more clickable. Turns out there was, and it increased their annual revenue by $200 million.
Learn more about companies implementing neuromarking in their strategies by reading “You’ll never believe which companies are using Neuromarketing right now!“
Neuromarketing is all about observing desired customer behaviors and tracing those behaviors to a neural process in the brain so it can be replicated. This tracing process is what takes the big dollars. That doesn’t mean to say you can’t utilize some basic techniques in your own marketing efforts.
Now that your excited about neuromarketing, where do you start? Start simple and grow as you learn is my best advice. Say you’re a wine shop. This week you have several cases of Italian wine you need to sell. In addition to placing displays of the wine around the store, think about switching your music to something more Italian. Studies have shown that in stores, when French music was played, French wine outsold other countries. This phenomenon isn’t tied to French wine. In fact, it worked for all types of wine. This relates to another area of marketing I am very interested in…atmospherics. However, that is a topic for another post. Another great example is something called number anchoring. Imagine you are selling concert tickets for $400. That sounds expensive right? What if you could prime your customer to think that price wasn’t as high? Again, neuromarketing can help. Number anchoring is the idea that a person judges a number based on others. You could put in your ad, “40,000 customers have experienced this exciting concert. Get your tickets today for just $400.” The position of 40,000 before $400 causes customers to judge the size of $400 in relation to 40,000. While $400 is still $400, the customer gets the sensation that it isn’t as high as 40,000. Thus, they feel the $400 price is less expensive than had the 40,000 not been before it.
There are countless other examples of neuromarketing in action. A quick Google search will quickly take you down an endless rabbit hole. Just remember, watch out for those blue ads.
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