July 14, 2019

In today’s online landscape, neuromarketing and neuroscience can largely boost your return on investment. Any firm or business must also take into consideration how the new buyer behaves and pays for products. Furthermore, the background of tech consumers is largely changing. Marketing efforts should adjust accordingly. 

Previously, before the spread of digitalization, customers used to purchase products in one lump-sum payment. While marketing campaigns took longer to prepare, a single sale covered most of the associated expenses. Moreover, a customer sales rep that knew how to utilize a sales script and deploy selling psychology proved to be a valuable asset. 

Having said that, this strategy is almost ineffective in the online marketplace. The neuroscience behind digitalized sales is completely different. Not only do buyers prefer to remain anonymous, but the absence of physical interaction makes it more difficult to retain their attention online. 

How You Sell 

By the time that a digital buyer contacts a firm’s customer sales representative, they already went though 60-85% of the decision-making process. This makes engaging and attention grabbing content incredibly valuable. Neuroscience and neuromarketing techniques are a central part of making this process successful. 

Digital consumers rely more on self-education than those who walk into a store. This means that they research products online and consult with their network before contacting the seller. Consequently, any business that motivates consumers to engage with their content is more likely to increase their sales. Even more when their product descriptions are easy to understand. 

One way of being digitally effective is through video content. Unlike static pages, videos do a much better job at highlighting a product’s features while retaining users’ attention and keeping them engaged. A short, descriptive video makes it very easy to connect with customers and helps them make a buying decision more quickly than an article does. 

Why You Sell 

In the tech industry, IT professionals and chief information officers (CIOs) dominated the traditional marketplace. Today, however, business executives make the majority of software product purchases. It is important for marketers to understand the different psychologies of these two sets of consumers. 

IT professionals are mostly interested in technical product descriptions. Business executives, on the other hand, have one thing in mind: How does this software help my business? Neuroscience requires marketers to focus on practical and direct details. 

For example, instead of advertising a payment processing software as “WordPress friendly”, sellers should highlight how the product can lower transaction fees or accept all major credit cards. Similar features to focus on are how quickly the funds will be available for withdrawal or that they can be connected to a Paypal account. 

When You Sell 

In a physical store, consumers buy products in one lump sum payment. This immediately covers all related marketing expenses. Online buyers, on the other hand, prefer to pay through increments and monthly installments. 

While this diminishes immediate returns, neuroscience and neuromarketing will boost your overall number of sales. In turn, this increases both short and long-term returns. The key to success in the online marketplace is creating engaging content that showcases the right product features. 

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July 14, 2019

The online landscape is changing the marketing world in three key ways. Consequently, a business that applies neuromarketing and neurology strategies witness better results. Just as importantly, firms can set themselves up for long-term success by understanding the new online consumer. 

Practical vs. Technical 

First of all, research shows that most online buyers are business executives. Their purchase and decision-making process is much different than chief information officers (CIOs) and IT professionals. Neuromarketing requires advertisers to adapt to this change.

Instead of focusing on the technical features of a product, sellers must focus on its usefulness to the buyer. This is because business executives are mostly concerned about how a software or product can help their firms succeed. In contrast, traditional IT buyers are more interested in technical product descriptions and features.

Anonymous Customers 

When neurology is applied, marketing campaigns can be very efficient at catering to the new type of buyer. Even more when advertisers consider how the online selling cycle is different than the traditional, face-to-face one. Studies show that consumers go through 60-85% of the decision making process before they make initial contact with the seller. 

In large part, this is because buyers prefer to remain anonymous, educate themselves, and conduct online research before purchasing a product or software. Rather than making sales scripts a priority, sellers should focus on creating user-friendly websites that visitors can easily navigate through.

Meanwhile, engaging product pages and attention-grabbing visuals can go a long way. Including video content, rather than static pages, is a great way to retain visitors’ attention and showcase products. This gets them to spend more time on your website and increases the likelihood that they will share product pages with their colleagues. 

A Shorter Campaign Cycle 

Lastly, the new marketing paradigm became much faster and more immediate. This is especially true in the tech industry. Traditionally, it used to take advertisers several weeks or months to prepare a marketing campaign. Likewise, tracking its results and effectiveness took a long time. 

Today, creating and launching an online ad is very quick and easy. Similarly, marketers can measure its performance immediately and have more tools at their disposal to do so. They can reach their audience through emails, social media promotions, search engine campaigns, and so forth. Advertisers can also monitor the number of people who visit their website, the average video view time, where users hover their mouse, and more.

Most noteworthy, online campaigns are cheaper than traditional ones. Yet, the costs aren’t as immediate. In a face-to-face selling environment, consumers paid for products in one sum. A single sale was enough to cover all marketing costs. On the internet, however, users prefer to pay monthly increments. Firms and businesses that account for and understand this are a step ahead of their competitors.

All in all, advertisers can prepare for the future by adapting to the new buyer, selling cycles, and marketing timelines. Applying neurology and neuromarketing boosts engagements and returns. 

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