Neuromarketing A – Z For Entrepreneurs

What is Neuromarketing?

Big brands are incorporating neuromarketing principles into their marketing strategy. Why? Experts say, when you understand neuromarketing, you get an excellent clarity of how an effective engagement strategy should be.

Digital advertising spendings have increased year on year. According to Statista 

the amount invested in digital advertising was $148.66 in 2015. The figure is expected to rise to $191.85 in 2017. But despite the hike, all companies do not have rocking sales results.

Why?

Information overload is making consumers confused, not convinced.

If you’re an entrepreneur, a marketing consultant, a business strategist, or a business student, you need to read this.

A person’s mindset, attitude, preferences and shopping decisions change according to change in market trends, the economic condition of a country, purchasing power, market growth and exposure.  So I believe it is important for us to understand how the human brain and mind respond to different situations.

Wikipedia’s Definition say that neuromarketing experts study consumers’ cognitive and affective response to various marketing stimuli and apply the principles of neuroscience to market research and communication strategies.

Neuromarketing studies can help you understand what sorts of advertisements create more engagement and make consumers happy. Happy and engaged audiences are likely to take action.

It appears that a good understanding of this marketing niche can help leaders, entrepreneurs and marketers save time and money. How?

A neuromarketing agency Salesbrain described the process in their promotion video. Watch this.

Neuromarketing is a study of the human mind, behavior, reactions to certain situations and variable aspects. It can help entrepreneurs understand how consumers think, react and take decisions. Neuromarketing is used to understand consumers’ brain response to marketing, advertising or communication techniques.

Companies like eBay, Pepsico, Hyundai, Porsche have been using neuromarketing techniques to understand their target customers.

I love this field because it is in depth, supported by neuroscience principles, facts, and medical studies. This subject is fascinating.

So, if I want to start a small business, can neuromarketing help me understand my target audience? I would like to know if the study of consumer psychology can help me build relation with my audience, increase engagement and improve brand loyalty?

Experts believe that neuromarketing can help with that.

Source: Canada Post

What do you think of neuromarketing? I am going to research more and find more case studies on this. Stay tuned….. 

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