For decades, market research consisted mostly of surveys and focus groups. Now we have a host of new tools to track our audiences – what they see, what they read, what they think and how they feel. Today’s episode of Brainfluence features neuroscience-based marketing expert Benny Briesemeister. Benny discusses the science, evolution, growth, scope, and future of neuromarketing. He gets into the details of the most powerful neuromarketing technique, fMRI, its cost concerns, and how the marketing sector can better utilize it.
Neuromarketing offers marketers the advantage of understanding the non-conscious drivers of human behavior and decision-making. To get a clearer picture of the transformative power of neuromarketing for business, tune in to this episode.Get deep customer insights with consumer neuroscience. Tune into Benny Briesemeister discussing his new book, #Neuromarketing for Business. #marketresearch #insights Click To Tweet
Key Highlights – Benny Briesemeister
- [01:17] Many large corporations have picked up the idea of neuromarketing in recent years and used it to increase sales.
- [03:40] Academic acceptance of the concept of neuromarketing
- [05:46] Deloitte getting into consumer neuroscience
- [07:09] Behavioral data vs. Market research data – Behavioral data depends on what has already happened, whereas market research uses a shaky estimate of how the market will be in the future. Neuromarketing can provide more robust predictions for marketing research.
- [10:12] How neuroscience is revolutionizing the marketing sector: Techniques like Eye-tracking, EEG, and fMRI can provide practical insights into human preferences and decision-making.
- [12:05] GSR stands for Galvanic Skin Response, a measure of skin conductance that gives insight into emotional response.
- [12:25] Neuromarketing techniques help segment customers into groups, which is more useful than measuring average response.
- [15:29] There are three basic types of motivations in people:
- Social motivation
- Energy/ excitement motivation
- Autonomy motivation
- [21:53] FMRI: Although fMRIs are the most powerful way to measure neural responses, it’s questionable whether they’re broadly applicable for business processes.
- [24:06] Cost concerns around fMRIs: Benny predicts a big future for fMRI, though it might not be applicable to most questions due to expense and small sample size.
- [27:18] As the usage of smartphones, smartwatches, fitness trackers and other devices increases, it becomes easier to gather customer behavior and response data at scale and even remotely.
Benny Briesemeister Quotes
“The idea of the Deloitte Neuroscience Institute is that we… see where we can use neuroscientific methodologies and insights in marketing, but also apart from marketing.”
“The Deloitte Neuroscience Institute stands for ‘let’s take everything that is not traditional and market research, and see if it can give us some value’.”
“The autonomy dimension means, ‘How much control do I actually feel in the situation?’”
“There’s absolutely no argument that the fMRI machines are probably the best machines to really look into the brain and see the neuronal processing. But is that really transferable to business purposes, because it’s such a strange situation [in the machine]? It’s very far away from their usual environment where they usually would see the ads. So there’s always the fear that that might really influence how the advertisements are being processed.”
About Benny Briesemeister
Benny Briesemeister is the Professor of Psychology at the IU International University and Scientific Lead of the Deloitte Neuroscience Institute (DNI) and the Founder of the neuroscience-based market research and consulting company, the Neurospective. He was awarded NMSBA Neurotalent of the Year in 2015. Benny is also the co-author of the book, Neuromarketing in Business: Identifying Implicit Purchase Drivers and Leveraging them for Sales.
Benny Briesemeister Resources
Amazon: Neuromarketing in Business
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Full Benny Briesemeister Transcript: