Neuroscience creates a huge opportunity for brand owners to gain competitive advantage
Which audience is yours?
Probably all of them and each react differently. That’s why most ads don’t work.
Your messaging and creative may be received positively by one group but at the same time often triggers negative associations in another.
When your campaign jars with an individual’s values and personality, you lose that customer, perhaps forever.
Neuroscience is the key to turning diversity from a challenge to an opportunity.
Know your customer on a large scale
Neuroscience enables us to translate behaviour into meaningful information about how your customers think, feel and choose.
By using a combination of techniques from cognitive psychometrics to computational neuroscience and mathematical modelling, it has been shown that reliable personality and cognitive profiles can be produced at mass scale.
Once you have discovered and mapped your audience, you can write a more informed creative brief that opens up a series of new opportunities.
Marketing analytics measures how people interact with campaigns but can’t translate that into economic results.
Econometrics can tell you about economic patterns but can’t identify the impact of campaigns effectively.
Neuroscience is a game-changer because it can bridge the gap, changing attribution and guess work into hard statistical models.
Each campaign has measurable psychological impacts and each psychological impact can be mathematically related to econometric changes.
Advanced Financial Modelling
Over time, as you run more campaigns, a scalable marketing performance model is developed. It is based on econometrics, behavioural analytics and neuroscientific data and it captures the full impact of your marketing across all channels.
Instead of being trapped in a narrow interpretation of ROI, CMOs can match the CEO or CFO need for financial projections based on multiple timelines and scenarios. You can demonstrate how marketing strategy has been developed to maximise value generation in line with the business’ goals.
Long Term Competitive Advantage
The adoption of neuroscience has wide-ranging impacts across an organisation including:
- Your creative is now informed by real-time data-driven information, which delivers more cost-effective, predictable outcomes
- Outcomes are more measurable and repeatable, and can be evidenced in non-financial and financial metrics, backed by real data. As a result, learning and standards improve organisationally.
- Revenues increase, typically not just for isolated campaigns, but even averaged across the whole business.
The Whole Marketing Ecosystem Improves
The changes brought about through applying neuroscience to marketing are felt positively across every tier of the marketing process.
Truly Data Driven
Neuroscience makes it possible to know and relate to your customers on a large scale. It is a big step towards data-driven marketing and a huge opportunity for brand owners to gain competitive advantage.
Find out about critical success factors and CrowdCat’s approach to neuroscience in marketing.