Neuromarketing | Business Case

1.1   The Business Case

A telecommunication company aims to improve its sales by investing in the marketing process. In this business case, we collaborate with the manager in designing a marketing strategy to attract more consumers. Of course, this project can be approached in the traditional advertising way. However, we dive deeper into the subject matter.

1.2   Why 'Neuromarketing'?

Marketing theory and prior research have shown that advertising and marketing are dictated not only by the content of our message, like speech, but also guided by non-verbal and visual cues. In this case, we derive a solution that uses 'neuromarketing' to target the subconsciousness of potential consumers and aim to use proven neuroscience to power our marketing strategy: Neuromarketing strategy.

2.1   The Solution

We use generative A.I. to create custom-made advertising videos. Each of these videos are designed to target a certain emotion from our 'primitive' and 'emotional' brain, namely:

Fear, sexual arousal, excitement, social status, and warmth/sense of belonging, etc.

1. We use a 'focus group' to evaluate our theoretical model.
2. We measure the advertising effectiveness using Machine Learning.
3. We schedule the release of each type of advertisement to gauge the effectiveness among the consumer demographics.

For each release, we use Machine Learning to teach our system to learn more about the consumers. There is merit in combining neuroscience and ML.

2.2   Rethinking Marketing

The essence of marketing is to communicate the company's values. And essentially, the company can decide to show its values through a myriad of ways in advertising. Advertising effectiveness is therefore a powerful tool to attract more consumers. Effectively, the company gains more consumers. But importantly, we gain important additional information about which consumers are attracted by which 'emotional' cues, which gives us tools to engage in (1) more effective acquisition and (2) more efficient retention (= consumers who stay with the company).

3.1   Efficient Strategy

Based on existing neuroscience and neuromarketing research, we employ a novel method to attract new consumers. The marketing strategy is effective in targeting the 'right consumers' and attracting the desired group. This high precision strategy allows the company to attract and retain more consumers than the traditional way of 'randomized' advertising. This is the value of neuroscience-based marketing.

3.2   Business Outcome

The company gains a high number of new consumers and has an efficient plan to retain the existing consumers.