What is Neuromarketing?
Neuromarketing refers to the measurement of physiological and neural signals to gain insight into customers’ motivations, preferences, and decisions, which can help inform creative advertising, product development, pricing, and other marketing areas.
The most common tools used to measure physiological and neurological signals are brain scanning techniques, such as EEG and fMRI, which measure brain activity during a particular task, and eye-tracking which is used to infer the amount of visual attention given to a particular task.
What can neuromarketing do for you?
Ultimately, neuromarketing can provide you with valuable, objective information about the motivations underlying a purchase decision, which may be otherwise inaccessible to you.
Simply asking a consumer what they think is not always effective, as consumers do not always have a conscious, rational reason for their decisions. Many purchase decisions are made pre-consciously and automatically. Therefore, neuromarketing research is key to evaluating System 1 thinking. Neuromarketing can provide information about when, how and why these decisions are made, giving you the opportunity to better tailor your products and services to maximise customer satisfaction and product purchases. Neuromarketing can be applied to a whole host of stimuli and scenarios, from evaluating the cognitive processes during a shopper’s journey to the innate emotions evoked by a TV commercial.
What is System 1 Thinking?
System 1 Research is any method which taps into unconscious thoughts, emotions or behaviours which would otherwise be inaccessible. System 1 Research Methods include EEG, fMRI, eye-tracking, IAT, IRT, facial emotion analysis, and biometric measurements such as GSR and heart rate variability.