Each year trillion dollars are spent by companies on communicating to and persuading the human brain to buy their products yet few understand how the brain really works.
But the new discoveries in neuroscience have revolutionised 21st century marketing and these insights into the human brain promise to reshape the way companies, brands and products get noticed, liked and bought, Dr AK Pradeep, founder and CEO of NeuroFocus Inc said.
Companies around the world, including the largest and most successful global giants, are increasingly turning to EEG-based neuromarketing that measures the whole brain because it offers far more accuracy, reliability, and actionable results than conventional market research methods such as surveys and focus groups, Pradeep said in its book The Buying Brain - secrets for selling to the subconscious mind.
"In the near future manufacturers, marketers, retailers and content creators that take the time to know you, the real you, the brain that is you, will survive and prosper," he said.
"Those treat you like a number in a survey or a nameless wonder in a focus group will perish," he said.
"Our company's group of world-class neuroscientists, neurophysiologists, and marketing experts measure and analyse actual brainwave activity across the full brain using a combination of electroencephalographic (EEG) testing and sophisticated eye-tracking equipment that records exactly where a person is looking while experiencing a stimulus," Pradeep said.
This combination allows us to measure, with extreme precision, exactly how that person's brain is responding to a certain stimulus in terms of our three primary neuroMetrics of attention, emotional engagement, memory retention, and correlate that with exactly where that person's eyes are focused at that same millisecond," explained Pradeep.
"The results are unprecedented in depth, accuracy, and detail, and unequalled by any other form of research," he added.
The 252-pages book was published by Wiley & Sons last month.
The book explains how human brains are remarkably alike in many respects, enabling small sample sizes to be studied and still achieve scientifically-valid results.
The sense of smell is quite powerful too, as it is the most direct route to emotions and memory storage. Being linked with a pleasant, iconic smell can significantly improve a product’s success in the marketplace, the author said.
"While human brains are remarkably similar, there are some fundamental differences that affect how we respond, such as age and gender. The book addresses three examples of these differences: the boomer brain, the female brain, and the mommy brain," the author said.
Among the five senses, the most pronounced is vision and the brain will discount information that is not in concert with the visual stimuli it receives.
Brains are also quite empathic and it is a `monkey see; monkey do’ mentality that can help companies the world over get their products into consumers hands, he said.
Mirror neuron theory says that when someone watches an action being performed, he or she performs that action in his or her own brain.
"Activating this mirror neuron system is one of the most effective ways to connect with your consumer," he said.
Explaining the boomer brain, he said there are 44 million baby boomers in the US who control 77% of all financial assets. After 50, the brain becomes less able to screen out distractions, presenting a huge implication and a great opportunity for marketers.
A key difference between the older and the younger brain involves the amygdala, the brain area devoted to primal emotions, which in young people responds to positive and negative stimuli, but in older people, more strongly to positive stimuli, Pradeep explained in his well researched book.
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