Time to rethink neuromarketing; it's no longer just snake oil
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It’s time to put on your thinking caps, or at least get test subjects to. Neuromarketing has gone from the realm of intriguing experiments with questionable merit among market researchers to an everyday tool for many brands. And it literally involves thinking caps, in that electronic sensors are used to measure brain activity.
One sign that neuromarketing has transcended its era of hype and hucksterism: Nielsen now has 16 neuro labs globally, including five in the U.S. One opened late last year in Cincinnati, Ohio, the heart of client country and home to Procter & Gamble, which is among the marketers that now have neuroscientists in-house.
A Mars study in 2016 has also helped alleviate doubts about the practice. A year earlier, a study in the Journal of Advertising Research found that among eight neuro research vendors, no two had the same results on a similar assignment. While the comparison is a bit apples to oranges, a year later, Mars released a study of 110 TV ads showing that neuro research by MediaScience predicted sales impact from ads accurately 78 percent of the time, versus survey research predicting results only 58 percent of the time (which isn’t much better than guessing).
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