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Jan 20, 2016

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4 Neuromarketing Strategies You Can Implement Today

As entrepreneurs, we are constantly selling ideas, products and services. However, selling is not something in which we all excel. Fortunately, neuromarketing can help you be more effective in this area.

  The effectiveness of neuromarketing is because the mind is 80% organic and 20% culture.

  The following is a compilation of easy strategies to implement in your business, that will help you sell more and better.

1. Pay for 2, get 3 vs 50% discount.


  It is easy to find such discounts. But do you know which one is the most effective? The people's favorite is the "pay for 2 get 3." The free element makes it more attractive. People love gifts.

  For example, if a person wants to buy 3 identical products, and finds the following offers: Pay for 2 get 3, or buy one get 50 off in the second product. This person will likely choose the first option, and believe its a better deal. However, both options have the same economic cost.

  Additionally, there is something in this promotion that scientists still have not managed to understand, and it is the preference of the people for the number 3. Companies have successfully profit of this by always displaying 3 products together.

2. Men vs Women


  Although after the age of 60, the brains of both men and women are very similar, before that age there are distinct differences that you must understand in order to sell better.

  Women are more talk active than men. It has been claimed that women speak about 20,000 words a day - 13,000 more than the average man. The explanation has been attributed to the higher level of Foxp2, known as the ‘language protein’, in the female brain in an area key to language in humans.

  What can you do with this information?

  Simple, when selling to a man you must be concrete, and talk about the facts, when selling to a woman, you must be more collaborative and talk more. This allows them both to have more certainty of making the right decision.

  Offer 3 or 30 options depending on the customer sex. Each sex has its preferences, topics in which they have more expertise or interest. For instance, if you are selling tech present a man 30 options, but 3 to the woman. Likewise, if you are selling clothes you should recommend 30 options to the woman, but 3 to the man.

3. Benefits sell, features don’t


  The main reason why features don’t sell is because customers don’t care about them. Some may use them to compare similar products or services. However, what they are really looking for is to accomplish a certain task or result.

  For example, if you are looking for a good weight-loss e-book, which one will you choose, the one that says, "Many diets you can choose from," or "Discover how to lose 4 pounds every week with proper nutrition." We might be talking about the same e-book, but one option is definitely more attractive than the other.

  Likewise, instead of selling an office furniture, promote productivity. Do not sell flight tickets sell life experiences.

4. Keep it simple


  People don´t like to choose and prefer not to.

  There are three phenomena generated by the overload of choice. First, it lowers customer engagement, which is reflected in a decrease in the willingness to purchase. Second, it creates a scenario for a poor-quality purchase decision. Customers buy products and services that do not suit them nor meet their needs, which in turn decreases their satisfaction. Lastly, the greater number of alternatives generate higher expectations and regrets about the final decision.

  In business less is more.
 
  This article cover 5 steps that will help you develop strategies to optimize your customers' decision‐making process that despite having an offer of various products and services, by making your client's decision process more rewarding.