Neuromarketing – The Crossover of Marketing and Neurology

When it comes to money transfer, we tend to opt for a service that is secure. PayPal thought the same as well, until they did a neuromarketing research and found that their audience preferred speedy services over safety. A real curveball, right?

In case you are wondering how neuromarketing works, let’s take a quick dip into the 100 billion neurons. Before the big launch, brands conduct tests on the human brain with the help of fMRI and EEG. We know it sounds like a big crossover and that’s what it is. EEG sheds insights into the emotions of the person when they are exposed to the ads, whereas fMRI gives access to the deeper parts of the brain.

Let’s start with a story, and don’t worry, the moral of this story will be revealed to you by the end of this article.

Deb, an ambitious entrepreneur, started a tiffin service business. The business had a good response because it was yummy and cheap. After a year, Deb advertised his business. In it, he used the colours purple and brown because they were his favourite. The audience perceived the service to be a premium one and as a result, he couldn’t attract new customers. The money he spent went useless and he had to close his business. The worst part of the story is that we miss their tasty food.

We certainly don’t want the same to happen to your business. That is why we put together a few pointers to help you drive your sales up and save you a few bucks. Our favourite is the fifth one.

1. Simple makes them buy

Fonts happen to have a major impact on the purchase decision of the consumer. The harder it is to read the less likely your product will be bought. Plus, they don’t want to waste their time trying to understand the words. It’s highly recommended to use simple fonts in your product packaging.

2. Colour is the key

The problem in Deb’s story is the colour he chose for his service. Purple and brown represent luxury whereas his audience were the working class. Colour must depict the type of service or product your business is providing because colour sends a message to the subconscious mind.

3. Smiles put money into your pocket

The model’s facial expression in the ad can affect the mood of the audience. Choose pictures where the model is smiling. Plus, no one wants to see an angry dude staring at them.

4. Fear clouds judgement

We have all seen the phrases like “Buy before sale ends”, “Bookings are almost full”, “One time offer”, etc. Well, this comes from the loss aversion theory. The pain of losing is greater than the joy of winning. People so badly don’t want to regret missing a great deal that they buy it without any second thought.

5. Pricing; the ultimate deception

Everybody knows that when the price tag says Rs.99, it actually means Rs.100. They also carry a pride that marketers cannot fool them.

In the intricate world of business psychology, pricing strategies play a crucial role in consumer behavior. An interesting insight from Uber’s head of economic research reveals that customers are more likely to book a cab when the pricing is set at Rs. 226.37 compared to a rounded figure like Rs. 200. The rationale behind this lies in the perception that rounded prices may leave room for negotiation, while non-rounded prices are perceived as precisely calculated. Business owners looking to avoid constant bargaining from customers can consider this unconventional pricing approach. For those seeking a strategic exit from timeshare commitments, explore options for cancellation with the expertise offered at [Pueblo Bonito Timeshare Cancellation]. Streamline your business approach and find innovative solutions to enhance customer interactions and satisfaction.

In essence, the moral of this story is, when you want to jump into the complex world of advertising, you’d be best advised to come to us at Circuit 9.