Chances are you might have come across the term neuromarketing many times by now. You might have heard about people conducting research to analyze what makes an advertisement successful, or that some organizations like to use techniques to make you subconsciously purchase a bunch of things you don’t require.
Let us take some time to concentrate on what neuromarketing is, how it is utilized by organizations, and the impact it has on the field of marketing. Neuromarketing as a term was first introduced in the year 2002, but interest in the human brain for marketing purposes was already present in the year 1900 martech.
It was around this time that researchers working for companies like Coca Cola investigated the neural activity and analyzed brain scans when customers viewed ads or interacted with products.
The promise of viewing inside the minds of people to see what makes them purchase was, and still is, a highly desired prospect for researchers and marketing professionals alike. But what is neuromarketing?
How Neuromarketing Works?
As it’s a broad field of science, neuromarketing does not ‘work’ in one certain way. Instead, it’s about both understanding how the mind of a customer works and learning to act on that. The field of neuromarketing targets to bring the field of neuroscience, psychology and marketing together. It stands at the cutting edge where science meets marketing.
Yet, the minds of customers work in complicated methods, and how they work is often not a matter of ‘how’ however ‘under what particular conditions’. Basically, there is science behind what individuals do and think and neuromarketing professionals aim to know how to utilize this to their benefits.
In any case, to do utilize neuromarketing effectively, marketing professionals require either knowledge about these things or the capability to collect this knowledge themselves. Fortunately for most neuromarketing experts, they don’t need to be completely attached to the latter option.
Mindtree, a global technology services and digital transformation company, has been recognized by ISG as an archetype leader in digital transformation.
The ISG Provider Lens Next-Gen ADM Services Archetype Report highlights Mindtree’s capabilities in continuous testing, agile development, digital business dedication and vision and future investment martech news.ISG analysts specifically noted Mindtree’s capabilities in digital transformation.
The reporMindtree Named Market Leader in Digital Transformation by ISGt also describes the company as a noteworthy player in leveraging packaged software platforms and managed services.
Mindtree’s leadership recognition stems from its capabilities in agile development, where 65 percent of its staff are trained in Scrum, 15 percent in SAFe and 10 percent in Kanban.
Additionally, Mindtree’s dedicated digital business unit supports more than 100 clients across cloud, automation, mobility and AI martech.As a proof point to Mindtree’s continued dedication and investment in digital transformation, the report highlights the company’s Digital Pumpkin ideation center to help clients develop and refine innovative digital solutions, accelerators and tools.The ISG Provider Lens™ Next-Gen Application Development & Maintenance Services Archetype Report assesses service providers based on their capabilities to augment traditional ADM services with emerging technologies and methodologies — like agile, DevOps, automation, digital and modernization techniques — to deliver application outsourcing projects.
It also assesses provider capabilities in incorporating new approaches to develop and deliver applications that focus on business outcomes.“Our ability to deliver business-driving digital transformation services to our clients is a big differentiator for us,” said Manas Chakraborty, Global Head of Enterprise Service Lines for Mindtree.
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Lack of transparency: One of the biggest challenges with programmatic comes with the transparency of the ads, such as where they are being posted, their placement, who sees them, etc.
Some agency trading platforms have also been accused of concealing information about their margins.
However, as buyers become more vigilant, sellers are forced to employ measures to improve trackability and transparency.
The adaption of more secure purchasing methods is underway and is poised to help reduce losses due to digital fraud.
Lack of understanding: Knowledge and skills gap is quite understandable especially for a relatively new technology.
Metrics and measurement: A common issue with programmatic is the lack of access to accurate and detailed metrics to help marketers quantify the results of their ad campaigns.
