Neuromarketing the revolution for Digital Marketing — Digital Psychology review
We all know that people don’t really trust marketers. Most of the time money is being spent, clicks are being generated but because of lack of absolute conversions, marketers trick the clients and sell them clicks and exposure. According to CXL, 4 out of 5 CEOs don’t trust their CMOs.
In Honesty & Ethics of Professions, we marketers are at 11%. In Trust, 97% of people don’t trust marketers. Why is that? We are doing our jobs quite right, we have spent a lot of time learning our trade and we make a lot of money for our clients. Then why don’t our CEOs and people trust us?
There is one simple reason for it. A lot of money spent on marketing is wasted, according to some, more than 50% of money spent on marketing and advertisement is wasted. More than 95% of new products being marketed fail. Most people will say that it’s not the marketer’s fault but let me explain why it is mostly the marketer’s fault.
In 2016, the revenue of e-commerce was $1.9 trillion. Most of this money was brought in by marketers, so a pat on our back for that but do you know $4.6 trillion was left in abandoned carts? The amount of money spent on getting those prospects to your sites, the amount of time spent by marketers, the amount of time different teams had to spent. All wasted.
In this article, I will try to explain what I learned in the introduction to the neuromarketing course from CXL and we will try to cover how you can streamline your funnel so that more and more can reach completion.
What goes behind a decision?
We think that human beings are rational. We think that our decisions are based on all the data that is available to us but that’s not actually what happens. More than 95% of the decision are made by the unconscious mind instead of the conscious mind.
Marketers always market to the conscious mind, they will be telling all the specifications of a product, user manuals, case studies, etc. but they never concentrate on factors that appeal to the nonconscious mind that makes for more than 95% of the decisions.
Marketing to the Conscious mind:
This is what most marketers rely on and usually, it’s because we think that most of our decisions are conscious and rational.
Let’s say you are working for a company that is selling cars. To appeal to the conscious mind: you will write a great copy around how this car will help you get rid of transportation, the fuel economy of the car is great, the car is very reliable, the resale value of the car is also very good and has a comfortable seating capacity of four people.
These are the main features of the car and many people are looking for these features.
Marketing to the Nonconscious mind:
The things we discussed in the above paragraph were the main specifications of a car, the specifications are important to appeal to the conscious mind but 95% of the decisions are triggered by the nonconscious mind. The reasons that need to be integrated into your copy for the nonconscious mind are how is this car going to help with your high status? How one will be more presentable when he is driving this car? How you will be more attracted by the opposite gender? How is this going to affect your standing in society about you being environmentally friendly?
These are the factors that are the actual reasons behind someone buying a car. If someone wanted fuel economy, seating capacity, and resale value. They would get a simple car worth $10 thousand. Why are people buying Ferraris and Lamborghinis? because those companies are marketing to their nonconscious mind.
When you’ll go to a Samsung mobile phone page, you’ll see a lot of numbers. 12 gigs of RAM, top-of-the-line processor, 108mp camera, etc. When you go to Apple’s iPhone web page, You’ll just see the aesthetics of the phone, people holding the iPhone. Why are people buying Apple instead of Samsung? Why are people buying 3 gigs of RAM, instead of 12 gigs of RAM at less money? It’s because Apple markets to the nonconscious mind, They will tell you that the people who buy apples are the upper members of the community if you want to improve your status you need an Apple iPhone If you want to attract the opposite gender; you need an Apple iPhone.
The Persuasion Slide:
When you are working on your website, there are a lot of adjustments that you can make. You can run a lot of different tests for a lot of different psychological techniques and most of the time you get overwhelmed and end up not doing it.
This slide designed by Roger Dooley demonstrates what we should focus on first to increase the desired actions on our site.
Gravity:
Gravity is the initial motivation of a customer. A person brings this motivation with him when he comes to your website. Someone wants a new phone, he will go to Google and will come to your website. Now, you have to reinforce his motivation and have to persuade him to convert to your site, instead of going to your competitor.
Now, at this point, if you market to their conscious mind and start telling the person about all the features of your mobile phone. He will move to another site to compare your product with someone else’s. Now he will be choosing between two products and the odds of converting on your site have dropped by 50%.
If you market to their nonconscious mind and tell them how your product will help them maintain a status in the society, etc. They will convert to your website.
Nudge:
The trigger that will start their conversion process. This could be a Buy Now button on your site, signup button, newsletter, Ebook download, etc. The nudge is what starts the journey of a customer.
Angle:
The initial motivation that brought the person to your site needs reinforcement. You need to tell the prospect why they should buy from you, you need to market to their conscious and nonconscious minds. The more motivation you provide to reinforce their initial motivation, the more is the slope of your angle and like a slide; swifter if the movement of a prospect through your funnel.
Friction:
Everyone hates the long tedious forms they have to fill just to signup for your newsletter. A form can make or break your deal and when it provides friction to the conversion process it definitely does the letter. Your conversion process should be simple, you are collecting the least amount of data that you need, the CTAs for the next steps are easily understandable, and a clear separate guide for the checkout process.