You woke up in the morning, with a song that you didn’t like at all but still can’t get it out of your head? You were planning to buy some bread, but you got your shopping basket full, since the products were “placed so conveniently” on your way to the bread aisle in the supermarket? You found a video stupid and useless, but still couldn’t stop watching it again and again?  

There is an explanation for your behaviour in all the above-described situations. In the majority of cases, it is the subconscious mind triggering it, and the neuromarketing is behind these “little tricks” played with your subconscious mind.

Neuromarketing is a fifth-generation tool for creation of marketing content; to put it more simply, before creating any service, product or video neuromarketing specialists conduct researches to find out in advance how the brain, and more specifically subconscious mind reacts to this or that impulse. The field of expertise of neuromarketing is the subconscious mind of an individual, and this explains why being fully aware that we don’t need this or that product or the price is much higher than its estimated value, we still buy it. Most probably, it had been established by neuromarketing specialists in advance, that the colour, shape, or display of a product in the shop or any other of its features would affect us on a subconscious level. And the reasonable mind, in this case is helpless. NeuroHub Business Academy, established in 2016 is the first company in Armenia, engaged in neuromarketing. NueroHub is the only company offering comprehensive neuromarketing services (research lab, educational platform) in the region.

Hence, the lab of the company is equipped to a full scale with the financial support of the EU4Business “Innovative Tourism and Technology Development for Armenia” (ITTD) project. One of the best tools for neuromarketing researches, the EyeTracker goggles have been purchased.  During the EyeTracker Demo Day, the Banks.am had an opportunity to interview the founder of Neurohub Mrs. Ani Kyureghyan and the ITTD project advisor Mrs. Mariam Babayan.

Neuromarketing Allows for Substantial Financial Savings  

“Through neuromarketing, it is possible to establish a marketing environment, the efficiency of which is easily measured, and this can be done in advance, before the launch of the product or service in the market”, mentioned the founder of NeuroHub  Mrs. Ani Kyureghyan.

“The classical marketing toolset is good for measuring the effectiveness of marketing campaigns only after the product is available on the market, based on the consumers’ feedback.  Neuromarketing measures the feedback of people in advance, through research. This provides an opportunity to a business to save substantial resources. If a promotional poster is to be displayed in a shop, in case of classical marketing tools, the expertise of a marketing consultant is often relied upon: e.g. the marketing specialist indicates the most visible spot, thus suggesting to have the poster displayed there. While neuromarketing, provides the clients with substantive information: e.g. most probably, 80% of those entering the shop are throwing a brief glance at the “most visible spot”, not even taking any notice of the poster, while instead they do not fail to see the poster displayed between the aisles.  Neuromarketing saves the financial means spent on inefficient marketing:

Eyeglasses, That Nothing Can be Hidden From

“EyeTracker is a pioneer in Armenia, and we are the only company licensed to use such technologies. The tool has reached Armenia with the financial support of EU4Business “Innovative Tourism and Technology Development” (ITTD) project. EyeTracker is a very important component in the research chain, and with its procurement, our lab is complete”.

The tool, which looks like ordinary pair of eyeglasses provides full information about the research object, tracking the movement of the eyeball and the reaction of the brain.  

EyeTracker identifies the first thing that the researched object looks at and defines whether he/she looked and saw it or just throw a brief glance on it. Was he/she impressed by what was seen? Will it stick in the mind?

The device collects information about the reaction of an individual to a marketing media, which can be processed before the launch of the product in the market avoiding excessive features, that will be ignored by people anyway, and laying emphasis on qualities that have been noticed and remembered by the majority of those engaged in the research.  

Having So Much Similarities on a Subconscious Level

The founder of NeuroHub mentioned that in contrast to classical marketing techniques, neuromarketing has another important feature: it gives an opportunity to reduce significantly the number of those engaged in the research, and expand the target of marketing. “Subconscious mind functions in the same way with all of us, and people share the same needs on a subconscious level”.

Neuromarketing ignores the aspects that are in the focus of classical marketing, e.g., gender, age, socioeconomic status. Nor the ethnic background matters.

A very good example is the white dress, which regardless of the national traditions, educational background of an individual etc., for the majority of world’s population is associated with purity, honesty and serenity. This is embedded into the subconsciousness of people.  Thus, it is possible to introduce a product in the market with a packaging that would arouse interest and attract Armenians, Germans, expanding the number of consumers. The use of neuromarketing and neurotechnologies is about the business thinking big, thinking outside the box.

As to the number of those engaged in the simple research, it is possible to gain accurate data studying the behaviour of only 10 people. In case of more sophisticated studies, around 150 research objects will be necessary, but not more.

Innovative Approaches Drive Economy to a Next Level

“Actions were needed to alleviate the economic impact of the COVID-19 outbreak”, mentioned the EU4Business “ITTD” Project Advisor Mrs. Mariam Babayan.

 
“We believe, that innovations can serve as a tool for economic recovery and our grant programme was focusing on innovative ideas, that were aimed at economic recovery. In addition to purchase of the EyeTracker, we have supported around 15 similar innovative initiatives in the total amount of  150.000 euros.

We found out that the developments are proceeding very fast in Armenia, innovative approaches are introduced very quickly in the economy, and if we will be able to support these innovations, our economy will not stagnate moving to a next, higher level.

Yana Shakhramanyan
Photos by Emin Aristakesyan