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Main Subject - NeuroMarketing - 7 Secrets To Unlocking Your Customer's Brain That Ignites Profits And Sales
Have you ever wondered ….
* Why even the highest priced or lowest quality products sometimes outsell their competitors’?
* Why and how your prospects buy the products or services they do, even if their choices seem irrational or impractical?
* Why some brands have a devoted cult-like following while others have zero loyalty?
A new field called NeuroMarketing – combining neuroscience, marketing and technology – has generated a buzz across every industry and every business sect
* Why even the highest priced or lowest quality products sometimes outsell their competitors’?
* Why and how your prospects buy the products or services they do, even if their choices seem irrational or impractical?
* Why some brands have a devoted cult-like following while others have zero loyalty?
A new field called NeuroMarketing – combining neuroscience, marketing and technology – has generated a buzz across every industry and every business sect
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
or. Let’s look at how the latest findings can help you convert more prospects to customers and create life-long loyalty and raving fans.
NeuroMarketing: Is It The Key To Unlocking Your Customer’s Brain?
In traditional marketing, we are told … “follow the proven formula of compelling headlines, benefits, satisfaction guarantee and a call to action, and your sales will skyrocket.” Yet, even top marketers can attest that successful campaigns are a “hit or miss” proposition
NeuroMarketing: Is It The Key To Unlocking Your Customer’s Brain?
In traditional marketing, we are told … “follow the proven formula of compelling headlines, benefits, satisfaction guarantee and a call to action, and your sales will skyrocket.” Yet, even top marketers can attest that successful campaigns are a “hit or miss” proposition
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
o find those that generate big sales.
Until now …
Neuroscience and behavioral sciences – such as NLP (NeuroLinguistic Programming) – are all saying the same thing:
“Our unconscious mind – not our conscious mind -- drives how we respond to ads, brands and products and, ultimately, drives all our buying decisions. Customers don’t really know why they buy what they buy, which is why traditional market research fall short.”
Let’s take a look at the underlying reason why …
Until now …
Neuroscience and behavioral sciences – such as NLP (NeuroLinguistic Programming) – are all saying the same thing:
“Our unconscious mind – not our conscious mind -- drives how we respond to ads, brands and products and, ultimately, drives all our buying decisions. Customers don’t really know why they buy what they buy, which is why traditional market research fall short.”
Let’s take a look at the underlying reason why …
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
the architecture of our brain.
Will The Real Decision Maker (In Your Brain) Please Stand Up?
According to neuroscientists, there are 3 main parts to the brain, each functioning as a brain unto itself. These “three brains” - nestled inside one another – are as follows.
* The “Human” (“New,” or outer-most) Brain: Most evolved part of the brain known as the cortex. Responsible for logic, learning, language, conscious thoughts and our personalities.
* The “Mammal
Will The Real Decision Maker (In Your Brain) Please Stand Up?
According to neuroscientists, there are 3 main parts to the brain, each functioning as a brain unto itself. These “three brains” - nestled inside one another – are as follows.
* The “Human” (“New,” or outer-most) Brain: Most evolved part of the brain known as the cortex. Responsible for logic, learning, language, conscious thoughts and our personalities.
* The “Mammal
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
an” (Middle) Brain: Also known as the limbic system. Deals with our emotions, moods, memory and hormones.
* The “Reptilian” (Old) Brain: Also known as the R Complex controls our basic survival functions, such as hunger, breathing, flight-or-fight reactions and staying out of harm’s way.
While neuromarketing is still a young field with many unanswered questions, one finding is clear.
* The “Reptilian” (Old) Brain: Also known as the R Complex controls our basic survival functions, such as hunger, breathing, flight-or-fight reactions and staying out of harm’s way.
While neuromarketing is still a young field with many unanswered questions, one finding is clear.
The reptilian, or “old,” brain drives your customers’ buying decision
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
.
According to Erik du Plessis in The Advertising Mind, the “old” brain rules all rapid decision-making. Market researcher and Chairman, Archetype Discoveries Worldwide, Clotaire Rapaille said in a PBS interview -- “The Persuaders” – that …
To strengthen your brand, loyalty and sales, you must understand your cust
According to Erik du Plessis in The Advertising Mind, the “old” brain rules all rapid decision-making. Market researcher and Chairman, Archetype Discoveries Worldwide, Clotaire Rapaille said in a PBS interview -- “The Persuaders” – that …
“The reptilian always wins. I don’t care what you tell me intellectually. Why? Because the reptilian always wins.”
To strengthen your brand, loyalty and sales, you must understand your cust
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
omers’ “reptilian hot buttons.” A “cortex” message – such as “Buy my product because it is 20% cheaper” – doesn’t buy customer loyalty. It all comes down to who triggers the first reptilian reaction. That’s why Coke, after all these years, continues to dominate the market.
The “Reptilian Brain” and Profits: 7 Critical Insights You Must Know About How and Why Your Customer Buys
Our “old” brain often overrides our voice of logic and drives all buying decisions f
The “Reptilian Brain” and Profits: 7 Critical Insights You Must Know About How and Why Your Customer Buys
Our “old” brain often overrides our voice of logic and drives all buying decisions f
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
r reasons beyond our conscious awareness. To influence your customer’s buying decisions, you must learn how the “old” brain operates and speak its “language.” Below are 7 key insights about the old brain that can add to your bottomline.
1. The old brain is driven by emotions.
Our old brain operates on autopilot – ie., a stimulus response mechanism. Emotions are automatic responses to sensory stimuli. The smell of coffee, the sound of the ocean, the view of a setti
1. The old brain is driven by emotions.
Our old brain operates on autopilot – ie., a stimulus response mechanism. Emotions are automatic responses to sensory stimuli. The smell of coffee, the sound of the ocean, the view of a setti
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
g sun … all trigger an unconscious emotional response.
Emotions play a similar critical role in our buying decisions. Business Pundit (www.businesspundit.com) reminds us that “in an oversupplied economy, customer feelings drive purchase decisions and profitability. Your new imperative is to assess and appeal to your customer’s feelings. Welcome to The Feelings Economy.”
Key lesson: The more senses you trigger and associate with your products/services, the more you will a
Emotions play a similar critical role in our buying decisions. Business Pundit (www.businesspundit.com) reminds us that “in an oversupplied economy, customer feelings drive purchase decisions and profitability. Your new imperative is to assess and appeal to your customer’s feelings. Welcome to The Feelings Economy.”
Key lesson: The more senses you trigger and associate with your products/services, the more you will a
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ppeal to your customers’ emotions and influence their buying behavior.
2. The old brain “decides” on the basis of the gain vs. pain tradeoff.
The two basic drivers of all behavior and decisions are: to seek pleasure and avoid pain. According to Kevin Hogan, author, The Science of Influence, “most people react to the fear of loss and the threat of pain in a much more profound way than they do for gain.”
Consumers focus more on not getting hurt over the need to fee
2. The old brain “decides” on the basis of the gain vs. pain tradeoff.
The two basic drivers of all behavior and decisions are: to seek pleasure and avoid pain. According to Kevin Hogan, author, The Science of Influence, “most people react to the fear of loss and the threat of pain in a much more profound way than they do for gain.”
Consumers focus more on not getting hurt over the need to fee
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
great when making decisions. “They overemphasize the importance of pain by about 2.5:1 in decision making.” How to overcome your customer’s “distorted” gain vs. pain trade-off?
Key lesson: Marketing guru, Seth Godin illustrates through his Joy/Cash Curve that high value purchases often trigger increasing amounts of buying pain. His solution: add more joy and pleasure to the buying process, such as he did in his work with Lexus. According to Godin, when you make buying pl
Key lesson: Marketing guru, Seth Godin illustrates through his Joy/Cash Curve that high value purchases often trigger increasing amounts of buying pain. His solution: add more joy and pleasure to the buying process, such as he did in his work with Lexus. According to Godin, when you make buying pl
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
asurable, you actually reset the customer’s “value meter.” How are you adding more joy to your buying process?
3. The old brain is highly influenced by beginnings and endings.
Research confirms that the beginning and ending of an event or experience alters our perception of the entire experience. Our initial impression becomes the “filter” for how we perceive what is to follow. The most recent experience leaves a final impression with greater weight.
Key lesso
3. The old brain is highly influenced by beginnings and endings.
Research confirms that the beginning and ending of an event or experience alters our perception of the entire experience. Our initial impression becomes the “filter” for how we perceive what is to follow. The most recent experience leaves a final impression with greater weight.
Key lesso
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
n: In marketing, for your message to be accepted, it is critical to leave a strong first impression – like a compelling story, a big smile, etc. Also, if a customer has a pleasant or unpleasant experience with your product or company, that most recent experience will influence future purchases more than all other experiences combined. What impression are you leaving with your prospects in the first few seconds or words? How has your last customer contact enhanced or jeopardiz
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
d repeat sales?
4. The old brain is visually oriented and responds rapidly to images.
From the moment we are born, we are able to see shadows and associate meaning to them. In communications, we are told that 65% of our how our message is received is through our physiology (or visual cues). Study after study has shown that someone’s first impression of you is based on your physical appearance.
In each instance, it is our old brain rapidly responding to visual cue
4. The old brain is visually oriented and responds rapidly to images.
From the moment we are born, we are able to see shadows and associate meaning to them. In communications, we are told that 65% of our how our message is received is through our physiology (or visual cues). Study after study has shown that someone’s first impression of you is based on your physical appearance.
In each instance, it is our old brain rapidly responding to visual cue
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
, not words. Words are the realm of the “new” brain and are secondary in the buying process.
Key learning: Enhance and deliver your core marketing message visually – eg., the design of your product, images in an ad, external packaging, etc. Where can you visually strengthen your brand and emotional connection with customers?
5. The old brain perceives the “pain of buying” in relative, not absolute, terms.
Neuroscience tells us that the “pain” in the old br
Key learning: Enhance and deliver your core marketing message visually – eg., the design of your product, images in an ad, external packaging, etc. Where can you visually strengthen your brand and emotional connection with customers?
5. The old brain perceives the “pain of buying” in relative, not absolute, terms.
Neuroscience tells us that the “pain” in the old br
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
ain is most activated with price. Not in absolute terms but rather in relative terms – such as fairness vs. unfairness, or alternative uses of dollars. Therefore, how you present or frame your prices could be driving customers away. How can you minimize activating the pain trigger with your price?
Key lesson: From various posts by Roger Dooley (Neurosciencemarketing.com), key strategies include:
* Emphasize “sales” prices (which does not activate pain in the old brain)
Key lesson: From various posts by Roger Dooley (Neurosciencemarketing.com), key strategies include:
* Emphasize “sales” prices (which does not activate pain in the old brain)
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
Utilize “package” pricing over pricing of individual components (the latter shows greater “pain activity in the old brain)
* Series of small “bite-size’ investments in place of one large investment (Netflix)
6. The old brain understands only what is tangible, physical and concrete.
According to Patrick Renvoise, author, Neuromarketing: Is There A “Buy Button” In The Brain?, the old brain is constantly scanning for what is familiar and tangible. It does not unde
* Series of small “bite-size’ investments in place of one large investment (Netflix)
6. The old brain understands only what is tangible, physical and concrete.
According to Patrick Renvoise, author, Neuromarketing: Is There A “Buy Button” In The Brain?, the old brain is constantly scanning for what is familiar and tangible. It does not unde
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
stand numbers or abstract terms, like “integrated approach” or “comprehensive solution.”
Key lesson: To speak to the old brain, you must use tangible “benefits” -- ie., what a customer will see, feel, hear, taste or smell as a result. Eg., a promise of“greater happiness” is gibberish to the old brain. Instead, tell your prospect how he/she will wake up every morning with a smile. Or use metaphors (such as referring to your service as the “Cadillac” offering) to make your
Key lesson: To speak to the old brain, you must use tangible “benefits” -- ie., what a customer will see, feel, hear, taste or smell as a result. Eg., a promise of“greater happiness” is gibberish to the old brain. Instead, tell your prospect how he/she will wake up every morning with a smile. Or use metaphors (such as referring to your service as the “Cadillac” offering) to make your
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
benefits more tangible.
7. The old brain’s control over buying decisions varies from culture to culture.
According to market researcher, Clotaire Rapaille, some cultures are very reptilian, such as the American culture. Americans want instant gratification. They have a bias for action. Other cultures – such as the French and German -- are more cortex, control-oriented. Their bias is thinking over doing.
Key lesson: Adapt your marketing communications to ea
7. The old brain’s control over buying decisions varies from culture to culture.
According to market researcher, Clotaire Rapaille, some cultures are very reptilian, such as the American culture. Americans want instant gratification. They have a bias for action. Other cultures – such as the French and German -- are more cortex, control-oriented. Their bias is thinking over doing.
Key lesson: Adapt your marketing communications to ea
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
h culture and what part of their brain drives buying decisions. Use emotional appeal with Americans; use logic with European cultures.
While neuromarketing is still in its infancy, it has the potential to revolutionize the way we market our products/services. The most important point is to use it for the right reasons. That is, as a way to better understand your customers and ultimately to better serve them. When used in this way, it can have a dramatic impact on your bottomline
While neuromarketing is still in its infancy, it has the potential to revolutionize the way we market our products/services. The most important point is to use it for the right reasons. That is, as a way to better understand your customers and ultimately to better serve them. When used in this way, it can have a dramatic impact on your bottomline
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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