One of the most mind-wrecking issues entrepreneurs battle with on a daily basis is how to grow and expand the productivity and profitability of their business beyond its current status. There are endless possibilities, and today, I specifically cover how neuromarketing will help your business grow even in a harsh and competitive environment.
Every entrepreneur knows that for any growth to be a possibility, you have to maintain customer appeal, attract new clients, and ensure consumer satisfaction.
Neuromarketing Is Quickly Becoming a Widely Practiced Business Trend
Neuromarketing is specifically designed to target customer attraction, appeal, satisfaction, and retention. According to renowned psychologist Robert Ornstein, neuromarketing appeals to the part of the brain he refers to as “the old brain.”
Neuromarketing sounds like a trendy concept, but what exactly is it?
According to an article on Entrepreneur, neuromarketing is a relatively new field of marketing that makes use of medical technology to accurately measure how the brain responds to marketing stimuli. It is based on the idea that the unconscious mind drives consumer responses.
What Ornstein refers to as “old brain” is actually the brain stem and other brain structures that are responsible for a person’s survival. This is the section of the brain entrepreneurs must appeal to because it plays a crucial role in assessing situations.
The “old brain” determines what captures a person’s attention. If you want to ensure customer attraction and customer retention, the concept of neuromarketing will come in handy. It will substantially aid business growth because it taps into the pleasure center of the brain.
According to Forbes, neuromarketing is not a pseudoscience. Indeed, a number of research papers have ascertained that it is a practical. Moreover, it is a viable solution that can be used as a business growth tool.
Are you looking to grow your business? Here is how you can harness the power of neuromarketing to ensure the steady growth of your business. With this exciting new technique, you can study a person’s brain activity to determine how they respond to different marketing stimuli.
How the Power of Neuromarketing Will Assist in Business Growth
Neuromarketing techniques use emotions to trigger a positive response from customers.
To catch the interest of a customer and retain the attention, you have to constantly appeal to the emotions.
When you trigger the emotions of a consumer positively, your brand instantly becomes memorable, and you are likely to win their loyalty. So how do you take advantage of this? Simple! Structure all your ad campaigns in a way that tells a story which evokes emotions.
A company that effectively employed this technique is eBay. An up-and-coming neuromarketing firm, NeuroFocus, developed a massively successful brand identity for eBay based on tests done on consumers that measured their emotional responses.
According to Dr. Ken Blanchard, the bestselling author of Legendary Service: The Key is to Care, Neuromarketing substantially helps in customer satisfaction by helping to ascertain which customer service techniques are satisfactory to clients.
Neuromarketing techniques can help ascertain the emotional responses that potential consumers will have on the brand depending on the brand’s personal behavior towards customers. How a customer is treated plays a big role in determining whether a person becomes a loyal customer.
By ascertaining which customer service techniques elicit positive responses from customers using neuromarketing tools, the human resource department can successfully develop effective employee practices that will appeal to new customers and ensure the continued satisfaction of existing customers.
According to Dr. Ken Blanchard, medical tests, such as EEG and fMRI are effective in helping shed light on how brand influences the decision to buy. This means you can design a customer service system that has already been proven viable to ensure that any potential buyer turns into a loyal customer.
Neuromarketing can also help in search engine optimization by creating a strong online presence.
In a new study done by One to One Interactive’s OTO Insights, search results that included texts, videos, and images were more emotionally engaging and memorable to customers.
According to Roger Dooley; a neuromarketing expert who contributes regularly to Forbes, the inclusion of videos and images to texts significantly boosts moral engagement during interaction with a SERP. This study proves that most Internet users get instant gratification from landing pages that have many images and videos.
The findings in this study can help a business improve its SEO strategy by ensuring the creation of pages that capture interest and have a lasting impact on consumers.
Most visionary corporations spend millions to find out what consumers want or need in order to avoid wasting money on an ineffective advertising campaign. For example, after brain wave research conducted by experts, PayPal was convinced that its target market values speed more than safety and security. PayPal, therefore, persuades more online shoppers to depend on their services by specifically pitching it as fast.
This marketing campaign worked out for PayPal because CEO Dan Schulman issued a press release saying they are close to achieving their vision, which is, “becoming a reliable everyday financial service for people around the globe.”
Neuromarketing has become a reliable and effective alternative to other growth-hacking techniques. The neuromarketing bandwagon is growing bigger every day.