bringing brains to business
DESCRIPTION
Improving marketing impact by bringing neuroscience to the business. Neuroscience is generating exciting new insight into our brain; how we make decisions and how to influence behaviour. The question facing marketers is how to apply these novel insights in order to drive business impact. As a consequence Implement had invited Dr. Thomas Ramsøy – one of the leading experts on neuromarketing and consumer neuroscience – to updated us on the latest knowledge in the field. Focus on the day was to provide hands-on experience of new insights and inspire to new thinking on how to apply insights to drive impact. Thomas Ramsøy also provided an overview of the field of neuroscience, sharing key learnings from existing research as well as insights into ongoing studies.TRANSCRIPT
Bringing brains
to business Perspectives on how to
improve marketing effectiveness
Agenda
08:30 Welcome and introduction – Implement Consulting Group
09.00 Neuroscience – improving marketing impact by bringing brains to business – Thomas Zoëga Ramsøy, PhD
10:15 Learning space – how to apply new insights – Implement Consulting Group
10:00 Break and coffee
11:30 Wrap-up – Implement Consulting Group
12:00 Light lunch
Bergen Oslo
Stockholm
Malmö CPH
Helsinki
Tallin
ICG Facts
12 books
published
400 Consultants
8+ Years of
experience on average
250+ articles
published
• Strategy & Transformation • Commercial Excellence • Leadership, Energy,
Assessment & Development • Process Improvement • Operations Strategy • Planning & Execution
Excellence • Sourcing & Procurement • Strategic Innovation &
Execution • Finance Management • Change Management • IT Management
Marketing and brand building is one of our core competencies
Change with Impact.
”Science has revolutionised every discipline it has touched. Now it’s marketing’s turn”
Joe Tripodi
Chief Marketing Officer The Coca-Cola Company
Our understanding of consumer decision making and buying behaviour is increasing
… as well as our understanding of how brands grow and the effectiveness of marketing activities
Humans largely make unthinking decisions based on habits
Source: Daniel Kahneman – Thinking, Fast and Slow
New insight is challenging old assumptions within marketing
Conventional Assumptions New Assumptions
Segmentation & tight targeting drives grows Reaching for all potential buyers drives growth
Different brands sell to different consumers Competing brands sell to the same consumers
User base recruitment is a one-off battle User base is a leaky bucket
Consumers are committedly brand loyal Consumers are habitual loyal to a repertoire
Building loyalty is a growth lever Building user base is a growth lever
Shoppers want to optimize their choices Shoppers want to simplify shopping
We must have a meaningful USP We must stand out from the crowd
Consumers care about brands Brands compete for consumers' attention
Advertising should persuade Advertising should resonate emotionally
Building broad mental and physical availability is key to generate sustainable brand growth
MENTAL AVAILABILITY
• Top-of-mind awareness
• Salience
• Ease of recognition
• Preference
PHYSICAL AVAILABILITY
• High accessibility
• High visibility
• Distinctive brand elements
• Right format - price - channels
What do consumers DO? What do consumers THINK & FEEL? What do consumers EXPERIENCE?
What should consumers DO? What should consumers THINK & FEEL? What should consumers EXPERIENCE?
TODAY TOMORROW
To generate brand growth marketers must be able to change consumer behaviour
Enter neuroscience...
Neuroscience provides a novel toolbox
Neuroscience can help us assess and understand the unconscious drivers of consumer choice and behaviour Neuroscience address four key metrics that are scientifically validated and have a tested reliability: • Attention • Emotional engagement • Motivation • Cognitive load
Thomas Zoëga Ramsøy, PhD How to Improving marketing impact by bringing brains to business
ICG Learning space - how to apply new insights
1. Getting noticed
2. Being processed
3. Becoming wired
Agenda
08:30 Welcome and introduction – Implement Consulting Group
09.00 Neuroscience – improving marketing impact by bringing brains to business – Thomas Zoëga Ramsøy, PhD
10:15 Learning space – how to apply new insights – Implement Consulting Group
10:00 Break and coffee
11:30 Wrap-up – Implement Consulting Group
12:00 Light lunch
Change with Impact.
Learning space How to apply new insights
October 2014
Time is limited
The battle of getting noticed, being processed and becoming wired
Getting noticed
Go shorter and be relevant
Being processed
Go longer and get closer
7
Becoming wired
Go all in and become a habit
Learning space
Becoming wired
Being processed
Getting noticed
Learning space How to apply new insights
October 2014
Two brain systems – automatic and controlled cognition
System 1, fast
System 2, slow
The old brain
• Basal ganglia
• Limbic system
Flight, fight or freeze
Perceptual thinking
Implicit and imprecise
Unconscious processing
Threat, risk, reward driven
The new brain
• Prefrontal cortex
• Parietal cortex
Pause and plan
Conceptual thinking
Explicit and precise
Conscious processing
Meaning and goal driven
The fast system decides in milliseconds (blink)
Limbic system
Prefrontal cortex
The slow system can veto and make fact-based decisions
Information overload or attention deficiency?
Some statistics about attention
The average attention span* in 2013 08 seconds
The average attention span in 2000 12 seconds
The average attention span of a gold fish 09 seconds
Average number of times per hour we check our email 30 per hour
The doubling time of information in the world 18 months
Percentage of marketers using content marketing 90 percent
Percentage rating their content marketing efforts as effective 42 percent
Source: Statistic Brain, 2014
* Attention span is the amount of concentrated time on a task without becoming distracted.
Same attention span as a goldfish
What is your
strategy?
Successful branding in an attention deficit world
How brand sell – from features to benefits
Higher-order benefits
Functional benefits
Emotional benefits
Customer rewards
Product benefits
Product features
An emotional feeling that binds the
brand and the target person typically
via shared values and beliefs
What the brand make the target
person able to experience, do
and obtain
An implicit or explicit claim of
superiority
A feature, quality, detail or function
of a brand
Coca-Cola example
System 1 reaction to change – domains of social survival
High dopamine
Perceived reward
Engagement
High noradrenalin
Perceived threat
Disengagement
Status is about relative importance to others
Certainty concerns being able to predict the future
Autonomy provides a sense of control over events
Relatedness is a sense of safety with others, of friend rather than foe
Fairness is a perception of fair exchanges between people
The untapped potential – habit building
Habit building step by step
1. Analyze the loop
• Identify the routine – obvious and visible part of the loop
• Isolate the cue – 5 types: time, place, relation, activity, feeling
• Figure out the actual reward – it often takes some observation and reflection
2. Adjust the routine
• Cues and rewards are difficult to deny, while routines can often be replaced
3. Be patient
• Each turn in the loop makes the neural pathways grow
• Building strong connections takes time
Implementconsultinggroup.com
Implement Consulting Group Implement Consulting Group is a leading Scandinavia based management consultancy, specialised in driving strategic transformations with a strong differentiator on “making change happen” – delivering documented Change with Impact.
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