Need to sell more without cutting prices or spending more on ads? It may be possible. Last week, I wrote about Guy Kawasaki’s new compendium of business savvy, Reality Check. One of the little gems he writes about is an experiment that involved selling door to door note cards. A simple but rather weird change in the sales pitch caused the close rate to jump from 40% to 80%: […]
I’ve been waiting for the first news of neuromarketing in the 2008 U.S. presidential election, and it has arrived a full year before the election itself. The first few conclusions seem so obvious as to not require firing up a multi-millon dollar fMRI machine:
Voters sense both peril and promise in party brands.
Emotions about Hillary Clinton are mixed.
Hillary Clinton and Rudy Giuliani are on opposite sides of the gender divide.
These were among eight conclusions of a brain scan study described in an New York Times Op-Ed piece, This Is Your Brain on Politics, credited to Marco Iacoboni, Joshua Freedman and Jonas Kaplan of the University of California, Los Angeles, Semel Institute for Neuroscience; Kathleen Hall Jamieson of the Annenberg Public Policy Center at the University of Pennsylvania; and Tom Freedman, Bill Knapp and Kathryn Fitzgerald of FKF Applied Research. The details involved in reaching each conclusion may be more interesting than the seemingly bland summaries. Here’s the Hillary Clinton one, for example: […]
Which is scarier – undergoing a potentially fatal surgical procedure that has a 95% survival rate, or one that causes death in 1 out of 20 patients? If you are like most people, you would find the latter statistic far more worrisome, even though mathematically the two statements are the same. A variety of research shows that marketers should choose carefully when throwing numbers at their customers. […]
Neuroeconomics research suggests that roughly 15% of your consumers are “spendthrifts” – they have unusually low sensitivity to the pain of paying, i.e., the neural discomfort associated with parting with money. Selling to people who feel little or no buying pain should be easy, right? With reduced buying inhibition, a spendthrift is more likely to take advantage of any given offer compared to a tightwad or even a normal, “unconflicted” person. Nevertheless, making the sale isn’t a given. For one, your offer is competing with other offers both for similar products or services as well as offers for dozens of other, unrelated items. Unless your spendthrift has the net worth of Bill Gates, he will have to make choices – as much as he might like to, he can’t buy everything. So, in our ongoing effort to translate academic neuroeconomics into practical neuromarketing, here are five ways to help close the deal with these free-spending customers: […]
What’s popular at Neuromarketing varies over time, of course, but below are some selections our readers have found interesting over time. Since our main article listing is chronological, this is an alternate way to find what you are looking for. […]