New point of view: Neuromarketing A valuable tool for Marketing and Research.
Neuromarketing can help you break through the noise of media today and truly resonate with your audience in 2018. If you want to learn how right now. Luboslovie.bg- the media for medias, marketing and communications Editor-in-Chief Andrey Velchev, Phd sits down with Tony Stockdale – Partner and CEO of Stockdale and Associates to exclusively answer our questions about he future of today’s Neuromarketing, how is taking the world by storm. How It is vastly being utilized globally by many of the worlds leading brands and despite its increasing widespread influence, many marketing professionals do not know exactly what Neuromarketing is, or how it can be used effectively within their company.
Neuromarketing isn’t a very familiar concept, could you give us a general overview of what it is?
Certainly, it’s the branch of Neuroscience that allows us to better understand consumer’s motivations and behaviors to more accurately construct marketing campaigns. In short, Neuromarketing is the “art” and “science” of selling to the brain.
Today, Neuromarketing is getting increased attention from companies around the world that want to understand how consumers make decisions and how to ultimately reduce advertising loss, increase impact and brand growth.
For decades, we have been blind to a whole range of unconscious influences on human decision-making and motivation. This is why such a large percentage (reportedly, 80-90%) of new products launched fail. Today we have more information.
How and when did you get involved with Neuromarketing?
Well this goes back approximately 10 years ago, when I was in the UK getting trained in NLP (Neuro-Linguistic Programming). In 2009, I completed my Master Coaching in NLP and was introduced to Neuroscience by colleagues abroad who were already actively involved in this field and delivering consultancy programs for leading multinationals. I found it fascinating and started attending workshops, conferences and trainings.
My studying and learning of Neuroscience has been significantly impacted with my previous background in NLP, consulting and advertising.
Why is it so important for brands to understand their consumer’s brains and how can they do so with Neuromarketing?
Well, it’s very important because by using Neuromarketing techniques they can better understand consumer preferences as well as uncover the subconscious motives and emotional drivers of purchase behavior. Ultimately they have the opportunity to grow their brands.
Science today clearly shows that there is a gatekeeper (Motivation) that stands between an emotional ad and the actual brand choice. Motivation is very different from emotion.
Until recently, brands have relied mainly on listening to what people say about them in order to predict and measure their potential performance. This is frequently not enough, thus many new launches fail. Today traditional research is greatly complemented with the insights of Neuromarketing.
So, when you consider the amount of money that is spent yearly on your marketing communication and the expense of taking your message public and exposing it to consumers, wouldn’t it be great to be able to optimize its impact message with a more certain understanding.
What can brands do today to transform the way they engage with people?
Well they need to utilize Neuromarketing techniques to understand how people process information and then create their messages accordingly, while always looking distinctive. They need to increase their perceived “net” value to consumers, understand the power of framing, priming, contextual cues and visual attention.
Brands and their communication should be concerned about building physical and mental availability. We should be looking out for effective ways to reach all category buyers. It is vital that we consistently and constantly use easy to remember brand assets that will over time create distinctive memory structures and bring the brand top of mind for each particular shopping category (mental availability).
So what exactly are you doing for companies today?
Please allow me to say at this point, that the tools and methodologies of Neuromarketing are universal for human behavior so they apply to a wide area of industries. A few of these industries include, FMCG’s, Services, Cosmetics, Tourism, Industrial and Automotive.
As such, we are helping brands understand how to use the tools of Neuromarketing through frameworks that allows them to generate commercial value for their brand, product, packaging, in-store, digital and advertising.
We are working closely with the Marketing and Insights departments within multinational companies today on building their brands, as well as, working with small and mid sized businesses to create the best possible foundation for their brands to grow and succeed.