How can neuro-marketing help small business?

How can neuro-marketing help small business?

How can neuro-marketing help small business?

neuromarketing process

Neuro-marketing has revolutionized the marketing industry. This is certainly a boon for small businesses. Neuro-marketing is not linked to inbound marketing nor outbound marketing; it is linked to consumer behavior. But if you suffering from fewer sales syndrome, then hire the best outsourcing companies in Florida.

 

What is neuro-marketing?

Neuro-marketing is a mixture of neuroscience and marketing. It helps to increase sales of a brand by utilizing the emotional side of human nature. The neurons react to certain receptors – businesses have identified these responses and applied these things in present or future marketing campaigns. Neuro-marketing can help brands better understand their audience’s buying patterns.

Components of Neuro-marketing & how to measure them?

  1. Brain imaging(EEG,fMRI)
  2. Facial encoding(FaceReader, FER)
  3. Sensory Marketing.
  4. Psychological technique

 

How can neuro- marketing help the Small business?

  1. Implement the FOMO concept of marketing– Fear of missing out is a great strategy to increase sales; the consumer thinks that he will miss the if he doesn’t purchase now.
  2. Psychological Pricing– Most retailer uses this strategy. In this strategy, the consumers think that charged with less money, which is not true.
  3. Attractive packaging– Often consumers prefer good-looking packaging to regular packaging. Many company’s revenues depend on packaging.
  4. Creative ads– The businesses produce some attractive and creative business landing pages to lure customers.
  5. Website performance-The good performance Homepage or landing page may instill a lot of confidence in the mind of the consumer. This good performer is the site loading speed.
  6. Consumer behavior is understood- Human scan technology eg, fMRI, EEG, fNIRS, etc are capable of revealing consumer preferences. So it is a topic of debate.
  7. Because of Neuro-marketing, we can easily decipher important marketing concepts based on human behavior.
  8. Facial Encoding-Neuro-marketing has converted the art of interpreting facial expressions into something of a science. The movement of eyes, movement of muscles – each and everything says something. There are 7 facial: anger, contempt, disgust, fear, joy, sadness, and surprise. It is implemented through a convoluted neural network.
  9. Hidden patterns- With the help of facial encoding we might discover some hidden patterns related to consumer buying.
  10. Sensory Marketing- It can help certain products to sell on the basis of physical attributes.
  11.  Branding- Sensory Marketing makes brands unforgettable, it is very good for branding purposes
  12. Demand-Through neuro-marketing we can access the demand in advance and produce according to that.

Disadvantage of Neuro-marketing

  1. There is no privacy in neuro-marketing
  2. A lot of skills are required for neuro-marketing.
  3. It is a very costly process.
  4. May go wrong.

Neuro-marketing is definitely a boon to small businesses. But there is a problem with this type of marketing. Many say that it is unethical. I think it is ethical when the primary motive is just to study consumer behavior. Anything apart from this is unethical.

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