Bringing Brands Closer to Consumers Through Neuromarketing - A Strategic Perspective
Consumer behaviour is dictated by what’s happening in the brain, however, traditional market research studies failed to detect nuanced human behaviour especially when it pertained to reaction to advertising stimuli, Neuromarketing methods like #eyetracking, #fMRI etc. have changed all that.
In a study to assess true impact of consumer attention on branding, two US experts analysed consumer attention span displayed during presentation of adverts and correlated with channel browsing data. They found that constant brand exposure decreased evasion. Traditional studies wouldn’t have traced this nuanced behaviour.
In another analysis of eye tracking studies conducted for a retail store, interesting discoveries were made regarding the consumer thought and action. A historical analysis showed attention spanning from top-left to centre of advertisements and there was no role for brand name during consumer purchase at retail store. Hence, during display of video advertisements, static logo visuals of retail store was displayed in the centre of adverts, and this had an incremental effect on sale of different fabric brands.
There is convergence of behaviours and given the challenges of maintaining visual attention there is a strong potential for bringing brands closer to consumers via #neuromarketing methods like eye tracking.
The convention brand trackers have always measured brand awareness levels and brands have always got robust information. However, it has been a challenge in understanding consumer behaviour. Using a combination of conventional brand tracking information along with neuromarketing data can provide marketers with rich insights.
Here, we study the application of neuromarketing using Keller's Brand Equity Model. One of the components of the model is brand resonance i.e. how much emotional connection does your customers have with your brand? And how does that translate to behavioural loyalty? fMRI data like attention, scepticism etc when combined with traditional brand tracker information and transactional data can provide answers to the resonance question.
Stratzie Consulting has developed innovative ways of extracting insights from neuromarketing data and developing smart strategies. Don't hesitate to contact us if you need assistance in resolving marketing issues.