5 steps for launch Neuro CX

Big companies are ready to give a lot of effort (and big budget as well) to learn about their customer journey and understand shoppers’ behavior. One of the greatest ways to get acquainted with your customer is to apply Neuro Customer Experience.

Neuro CX means using neuro data about your customer experience with the aim to craft a company’s marketing strategy, bring product marketing decisions, run CustDev, etc. Neuromarketing instruments may help you find out what package may be more attractive for your customer, and what customer journey is more likely to lead to the purchase. Besides, neuromarketing may help you learn what kind of UX/UI designs helps customers to feel comfortable.

But before applying neuromarketing to your marketing strategy you need to evaluate the way marketing research is organized within your company. We interviewed marketers and c-level managers to find out the way marketing research are structured within their business. The scheme below represents the marketing research structure that we model based on the expert interview results.

Marketing Research Model Structure

Today there are two groups of marketing research — traditional and neuromarketing research. You must have come across traditional marketing research methods and I am more than sure that they are used by your business. They include syndication and ad hoc studies, and tactical and strategic research. Strategic research is most often applied when you are planning to launch a new product or do a rebranding. These activities go hand in hand with high investments and even higher risks. The tactical decisions are most often conducted internally.

Strategic and syndication studies are conducted externally and outsourced by professional agencies whose expertise and access to data analysis help get better results from the research.

Neuromarketing market

Neuromarketing is becoming more popular and affordable to companies from various spheres from year to year. The map below shows the intensity of neuromarketing agencies that can be found today in various geographies. As we can see the majority of them are located in Europe (according to NMSBA). Though there is an evident trend of active development of neuromarketing in Central America — one of the reasons for that is the development of neuromarketing discipline in the Universities of these countries.

Lately, such companies like Hyundai, PayPal, and even Sony, Guinness, and Discovery have smartly adjusted neuromarketing strategies with their regular marketing and CustDev plans. Need to mention that neuromarketing is actively applied today in Fintech, Fashion Tech, And Educational Tech. The companies implement behavioral insights — and then remodel their strategies to focus on specific features.

5 main steps

Lately, such companies like Hyundai, PayPal, and even Sony, Guinness, and Discovery have smartly adjusted neuromarketing strategies with their regular marketing and CustDev plans. Need to mention that neuromarketing is actively applied today in Fintech, Fashion Tech, And Educational Tech. The companies implement behavioral insights — and then remodel their strategies to focus on specific features.

This algorithm is built on our belief that neuromarketing is to become an integral part of marketing and business strategy. At the same time, the novelty of NM methods, the lack of experience and competencies, together with relatively high cost, means that you need to make a critical assessment of your own resources and capabilities before implementing neuromarketing.

Let’s look at the example from Fintech area:

Imagine a bank that occupies the leading position in the country. The bank has a mobile app that is being modified now. It was decided to add two new sections to the app that would help to change the perception of the bank service and help the bank to stand out among its competitors. The MVP was ready but it was important to test the convenience and readability of its design and features. To answer this question the management decided to apply to an in-house neuro laboratory. As a result, the company carried out a test that helped to see the major neuro data that pointed out development areas of CMJ that could help achieve customer success. That illustrates the way this algorithm works.

Moreover, as mentioned above, we conducted a survey among C-level managers and entrepreneurs from various fields to learn their attitudes toward neuromarketing (please put 👏below this article if you want to get insights into this research). This survey shows that so far only large companies that implement an integrated approach to marketing research can effectively integrate neuroscientific methods into their business strategy.The key to determining the place of neuromarketing in the system of marketing research is the assessment of the gaps between the marketing needs of the company and the opportunities provided by more familiar traditional research methods.

Anna Pysmennaya, Anna Butuzova

#research #productmanagement #productmarketing #cx #marketing