Monday, September 10, 2007

"There is no 'buy' button in the brain"

Neuromarketing.

A new article in Advertising Age by Mya Frazier takes a look at using neuroscience, or how the brain responds to various stimuli, to determine a consumer's propensity to purchase. According to the article, a company called Neurofocus, based in Berkeley, CA, is completing its 100th research assignment using an EEG machine to measure brainwaves. The company's CEO A. K. Pradeep says, "he needs only your print ads and TV spots, an empty hotel conference room, and a few dozen consumers. For the cost of a copy test, he'll give you back a number he calls the consumer's propensity to purchase."

All the science comments aside, the article raises perhaps a more pointed question: is neuromarketing any better than other current research methodology?

What do you think?

Thursday, September 6, 2007

WoW ... WoM

A new iProspect and JupiterResearch survey indicates that word of mouth (WoM) from friends drives 41% of daily online searches, surpassed only by television advertising. And among those who searched at least weekly, WoM came in FIRST.



Wow (WoW), I always thought word of mouth (WoM) was powerful. But this is impressive.

Wednesday, September 5, 2007

Marketing Funnel? Marketing Spiral? How About Marketing Fruitcake

A new report from Forrester just came out on customer engagement that challenges the traditional marketing funnel model. According to Forrester:

The premise behind the report is that the center of the marketing funnel (consideration and preference) is more complex than many like to believe. This complexity is largely influenced by people's changing behaviors online, fueled by social computing.

Forrester's new model looks somewhat like an instrument played by one of the Who's in How The Grinch Stole Christmas. But yet, it gets the point across, I think.




David Armano, over at Logic + Emotion recently suggested the traditional funnel shouldn't be tampered with and have put forth the notion of a marketing spiral instead, indicating the cycles (circles) we make in going through the process of consideration and decision making. This is also an interesting and logical (pardon the pun, David) approach worthy of consideration.

I would like to suggest yet a different model:



That's right, grandma, a fruitcake. Now, I'm not talking about the much-lampooned fruitcake that gets passed from family to family each year at Christmas.

I guess I see the marketing funnel is more like the recipe to a fruitcake, where an excess of nuts and fruits, often laced with alcohol, are mixed together with some spice and honey and generally improve with age.

As we consider our purchase, it's difficult to sort out the "ingredients" to a decision, but when we take that first bite, the sum total impression of all our experiences (i.e. enter the fruits and nuts) create a sensory overload that propels action. In the case of the traditional marketing funnel (or Spiral), the action is purchase. In the case of fruitcake, the action could be ... well ... use your imagination here.

Today's fruitcakes, I understand, even mix the best of the old world and the new world. How's that for some extra honey? Consider the Jack Daniels Bourbon Cake or the Meyer's Rum Cake. What are they, but some traditional fruitcakes now marketed in the gourmet section of grocery stores.

So, cut yourself a slice, have a cup of coffee and savor the flavor...

Monday, September 3, 2007

Tips for Trendwatching

The cool folks over at Trendwatching have put out some great tips for ... well...trendwatching.

Enjoy...

http://www.trendwatching.com/trends/TIPS.htm