Neuromarketing: When Does Market Research Go Too Far?
It can be truly said that the field of marketing and advertising has seen a drastic change since the dawn of the 21st century.
With decades of research and analytics behind it, there is no doubt that this marketing “machine” we have created has truly taken on a life of its own.
And why not?
When it comes to the marketing industry, which a quick Google search will tell you has a global value of upwards of $1.7 trillion, people are lining up to come up with the next great idea that will revolutionize the industry and make them even more money.
In fact, the United States marketing sector alone was the cause of $481 billion in spending stimulus to the national economy in 2022, proving yet again the power held by the leaders and companies at the top of this global enterprise.
But don’t be fooled into thinking we have reached the pinnacle of this industry. In fact, we’re far from it!
Today, with some of the world’s greatest minds currently at work trying to make their mark in an industry that still has trillions of dollars to offer, there truly is no end to the lengths researchers will go to in pursuit of the next money-making idea.
In fact, today we’re going to discuss one of the latest analytics-based ideas being implemented in the marketing industry today that truly takes market research to a whole new level.
(Needless to say, anyone who wishes to argue that, in today’s day in age, marketing and the tactics that do — and will — make it a success have not become a true science would do well to continue reading this article.)
Neuromarketing
There was a time when asking someone their opinion sufficiently answered a marketer’s queries as to whether or not a campaign would be a success or not.
… It was called Market Research and it relied solely on self-reported data via surveys of focus groups for its data.
That being said, recent studies have shown that 85% of consumer decisions are not made on a conscious level.
This has led some companies to look for new ways to collect relevant data from their survey participants, leading some to explore the benefits of a more “scientific” approach to marketing known as “neuromarketing.”
Neuromarketing is a field that combines neuroscience, psychology, and marketing to understand how the brain responds to marketing stimuli and how it influences consumer behavior.
By providing insights into the subconscious aspects of decision-making, neuromarketing allows brands to optimize their marketing strategies, develop products that resonate with customers on a neural level, and engage with their customer base more effectively.
The neuromarketing process involves the application of scientific methods and tools, such as brain imaging (e.g., functional magnetic resonance imaging or fMRI), biometrics (e.g., eye-tracking or facial expression analysis), and physiological measurements (e.g., heart rate or skin conductance), to study consumer responses to marketing techniques.
In the marketing field, the goal of neuromarketing is to gain insights into consumers’ subconscious and emotional responses to marketing messages, products, and brands. As a marketer, by understanding how the brain processes information and makes decisions, a business can optimize their strategies to better engage and persuade consumers to make a purchase.
On a deeper level, neuromarketing techniques can be used to investigate various aspects of consumer behavior, including attention, memory, emotional responses, brand perception, product preferences, and purchasing decisions…
For example, researchers might use brain imaging to study which areas of the brain are activated when consumers are exposed to different advertisements, packaging designs, or pricing strategies. This information can help marketers create more effective and appealing campaigns.
Now, it is important to note that the field of neuromarketing is relatively new and continues to evolve, which is why its practical and ethical applications are still be explored and debated.
Does It Work?
Seeing that this method of data collection is still in its infancy, not much can be stated for certain as to its impact or success rate.
On a general level, however, studies have shown that ads with an emotional impact are 23% more successful for their clients than the ones that rely solely on content.
With that in mind, such a resource would benefit anyone trying to find a greater understanding of the neurological basis for emotions to create content with greater impact.
As for the facial and eye scanning techniques used in this process, this tool is said to be useful in helping businesses determine individual gaze patterns and visual attention spans of consumers.
By collecting such data, brands can point out the exact elements of their promotional material that are successful in attracting the most attention, which can then be used to optimize the placement of specific design and messaging elements to ensure maximum engagement with their target audience.
In short, this data can be useful in crafting a successful campaign, but are the privacy and ethical breaches really worth the cost? Well, it depends on who you ask…
Ethical Considerations
From a business and economic standpoint, this seems like a great opportunity to finally streamline data collection and get down to the true nitty gritty of what makes the human subconscious tick (and spend.)
On a personal and individual level, however, there are literally dozens of questions that come to mind that raise ethical concerns of how this process could be utilized and potentially manipulated to the surveyor’s advantage.
Anyone participating in one of those “old fashioned” focus groups would naturally need to give their consent to participate in the event… The same would obviously need to be said when it comes to implementation of neuromarketing on any subject.
Consent of participation and an outline of how the collected data will be used is a great starting place should this practice continue to gain traction in the field.
The key here is full transparency. Businesses would need to be completely open as to what they hope to get out of such studies.
Of course, we know that the true answer is MONEY, so the real question is, do we WANT greedy companies having a key into the deepest parts of our minds?
I think most – not all – would say no.
In this technologically invasive age where nothing seems to truly be our own anymore, is it to society’s benefit to allow corporations to dissect the thought patterns we ourselves aren’t even aware we have?
Yet another ethical dilemma for a 21st Century audience.
The Wrap Up
No matter what side of the argument you fall on, it’s safe to say that society continues to reap the benefits of the technological advancements available to us today.
… And, even without diving into the human psyche, the marketing field has been able to make great strides when it comes to ethical practices to better understand our audience.
P.S. If you’re interested in learning more about a digital marketing team that has the power to make a difference in your business WITHOUT requiring a complete brain scan, then Rain Digital wants to hear from you!
By taking advantage of some of the most sophisticated – and ethical – practices in use today, Rain Digital has quickly become one of the fastest growing digital marketing firms in Central Indiana and we would love to show you what we could do for your company!
