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Neuromarketing: Decoding the Human Brain

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The world of marketing has changed dramatically with the arrival of the internet and the emerging fields of Neuromarketing and Behavioral marketing. Neuromarketing is a psychological study of the human brain response to any kind of advertising campaign.

Do you know Zukerman – the guy who invented pop-up Ads has apologized in an interview for creating such a kind of ad which is very irritating to all. In today’s time, there is a dire need to come up with something which can benefit the advertiser and Neuromarketing plays a key role in onboarding the right customer to your platform. It has totally transformed the conventional way of marketing among the advertisers.

The human brain is remarkably complex and endlessly interesting. We all tend to think that we are highly logical creatures, and yet we are susceptible to score of strange mental shortcuts and cognitive hiccups that influence our decision-making process. It is important to remember that marketers are just as susceptible to cognitive biases as anyone else. A successful marketing campaign will always put the customer first. People are not anymore interested in hearing a laundry list of facts and figures about your product, you must overcome your tendency to talk about yourself in favour of keeping the focus on your customer. It’s a hard thing for many people to accept, but when it comes to the psychology of marketing, what you think doesn’t matter. What your customer thinks is the whole ball game.

 

    Psychology of Marketing

 

Your customer has three brains – Reptilian, Mammalian and New/Human Brain. In order to make your marketing effort successful, you must appeal to all the three of them in the correct order.

Reptilian Brain → Mammalian Brain → New/Human Brain

Reptilian Brain – It is highly visual and has a very short attention span, you’re primary focus must be on addressing your customer’s fear and then offer them a solution.

Mammalian Brain – It is focused on your customer’s emotion. Emotion is contagious and people have a tendency to overestimate the emotional impact of decisions.

New/Human Brain – Once you satisfy the Reptilian and Mammalian brain then you should move on to satisfy the human brain. This is the part of the brain which can evaluate product features and prices.

 

Marketing is all about your customers. Regardless of what product or service you sell, you can’t put together an effective marketing campaign if you aren’t always focused on your customers. Knowing who they are and what they want will help you accomplish exactly what you want to do. If you lose sight of their importance, you won’t be able to persuade them to buy your product or service.

That’s the benefit of applying Neuromarketing principles to your marketing effort. Every sale you make is a result of a customer’s decision – and psychology is what drives those decisions.

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EMnify Data Streamer Launches New Integrations into Google Cloud Pub/Sub and Azure Event Hubs

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EMnify Data Streamer Launches New Integrations into Google Cloud Pub/Sub and Azure Event Hubs

EMnify, a leading cloud communication platform provider for IoT, announced new turnkey integrations into Azure Event Hubs and Google Cloud Pub/Sub via its EMnify Data Streamer – a feature that enables real-time streaming of connectivity data into the cloud and self-developed software stacks. These integrations empower IoT support and business teams whose applications are deployed on Azure and Google Cloud with complete network transparency to faster triage and resolve issues.

“When using traditional mobile services, connectivity data is often not easily accessible,” says Christian Henke, Head of Product at EMnify. “This leaves support teams in the dark when problems like excessive data consumption, roaming restrictions and network attachment failures arise.”

EMnify Data Streamer bridges this visibility gap by allowing IoT businesses to integrate real-time information on network events, service usage and costs directly into their applications and operational workflows. The new release extends Data Streamer integrations to Azure Event Hubs and Google Cloud Pub/Sub – besides the existing integration for Amazon Kinesis, Amazon S3, keen.io, Datadog, DevicePilot and Salesforce. Leveraging related services like Google BigQuery, Azure Times Series, and Azure PowerBI, users can build intuitive dashboards of all network activities and set up proactive alerts to stay informed of any abnormal events.

Integrating connectivity metadata with device and application data in their cloud services allows Enterprises to more quickly understand the root cause when no data is available for their customers – whether the problem lies in, for example, firmware updates, network attachment errors or the application not accepting incoming messages. 360-degree visibility further augments the overall security of IoT solutions against unknown security holes and zero-day exploits.

“The latest EMnify Data Streamer integrations upgrade the multi-cloud capabilities of our platform,” says Martin Giess, CTO and Co-Founder at EMnify. “They go in line with our automated cloud connect service which enables private networking between user devices, EMnify platform, and Azure or Google Cloud, securing end-to-end data communication and giving support teams remote device access.”

EMnify provides detailed guides on all available EMnify Data Streamer integrations, as well as how users can analyze and display connectivity data using supportive toolchains and third-party services.

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Big Data

5 ways Big Data can add to Digital Marketing

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how big data help in digital marketing

Long gone are the days when marketing success would be heavily dependent on subjectivity, intuition and huge promotion budgets pushing out marketing messages in your face at all possible touch points. It is a completely different ball game today, and it wouldn’t be wrong to say that marketing as a whole has evolved towards being a completely customer-centric and data-driven activity today; and the most effective strategies, irrespective of industry verticals, aim to deliver personalized customer experiences. This has been possible only due to the advent of big data, to gain valuable insights into customer preferences.

So, what really is big data?

Most organizations today have systems in place to capture and store massive data points from their all their customer interactions from research, sales and marketing. This data can be structured, semi structured or unstructured and will likely continue to increase in size. It can get overwhelming to make sense of this increasingly dynamic information. Big data is a means to analyze and extract valuable information from these complex and interlinked sets of data, and observe patterns that can help guide decision making.

Put simply, big data is a means of processing large volumes of complex data sets to derive actionable insights. Given that the world is going digital, there is already much rich data available from earlier marketing activities, consumer behavior tracking, other databases and research, and it is now possible to paint an accurate picture for almost each consumer and create predictive models for future interactions. This could be used throughout the sales funnel, right from identifying the right consumer, to product design, marketing communication, demand forecasting as well as customer retention.

How can integrating big data into your digital marketing efforts help?

In today’s fragmented marketing landscape, one of the biggest challenges that marketers face is to engage with the right consumers at the right time with the right message. Here is where big data comes in – big data can not only help us understand customers better, it can also help us develop better strategies that are sure to give your business a competitive edge.

Being able to understand and predict consumer behavior accurately using various data based insights can indeed open up a whole new world of opportunities.  Here are some of the ways you could use big data to bolster your digital marketing efforts:

  1. Data Visualization

Big Data makes it possible to make sense of the data, helping marketers recognize patterns, trends and problems, using different types of visual representation. This provides an easier way to understand what the data wants to say, and the different ways in which the data can be interlinked to mine new insights. Think of your social media analytics charts, or even the charts that you can find in Google Analytics, both of which are great examples of big data visualization.

  • Consumer Insights

One of the key ways organizations can stay ahead of competition is by mining accurate consumer insights, and leveraging them in their business and marketing strategy. Why settle for ambiguous demographic and psychographic segmentation when you can get richer data for each of your consumers? Data such as what your consumer likes and what products he prefers, what he thinks about your company and preferred distribution channels or modes of interaction, repurchase patterns and more, can help you paint an accurate picture about consumer sentiments, and tweak your marketing initiatives accordingly.

  • Predictive Analytics

Historical consumer data and current data can be combined to make fairly accurate predictions about their future behavior. For instance, which product are they more likely to buy and when, how much will they spend, which payment mode they will most likely use and so on. This could help you with forecasting demand for a specific product model in advance. You could also predict beforehand how your campaign might perform given certain parameters, or even when the demand curve for your product could go up or down. It is almost like having a looking glass into the future, which can help you segment and target your consumer groups accordingly, and design marketing initiatives that would better resonate with each segment.

  • Customize Consumer Interactions

Once you are able to access latent consumer insights, it will also be possible to create customized online interactions with almost any consumer, based on data from your past interactions with them. Not only will this increase relevance, it will also likely increase engagement and ROI as well. Product recommendations from ecommerce sites, video recommendations on YouTube and Netflix are a case in point. This doesn’t stop at product recommendations. You could even customize your marketing communication in real time, based on past consumer interactions. For instance, you could send personalized emails or text messages based on their past purchases, life cycle stage, demographics and their internet search history, how they have spent their time on your website or mobile app and for that matter, even their response to your past marketing campaigns.

  • Budget optimization

A thorough knowledge about whom to target, when to interact, what to say and where to say will make it easier to allocate your marketing budgets more effectively, and focus them on initiatives or consumer segments which are more likely to give you the results you want. This, when combined with data from which of your digital marketing channels are giving you higher CTRs and conversions is a recipe for success. Needless to say, this will also help to prevent budget spillage into areas by casting your marketing net too wide, or in the wrong sea! As you continue to use big data along with AI & ML, you will only get better at optimizing your marketing spends to a point where you will even be able to predict the results you can expect.

  • Campaign Evaluation

With specific metrics for each of your multiple campaigns, it will become much easier to measure campaign performance. Unlike the days of yore when it wasn’t possible to accurately attribute campaign results, big data visualization can help one see precisely the ROI on each campaign, including but not limited to increase in sales, how each channel has contributed and even changes in consumer sentiment. This can be used as a blueprint to plan your future marketing campaigns.

As we would all agree, big data is transforming how marketing is done today, as it takes the guesswork out of what digital marketing initiatives will work. I would go on to say that the contribution of big data can only be limited by our imagination, because from where we stand today, the possibilities are truly endless.

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5 Emerging Tech Trends Startups Should Follow

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5 Emerging Tech Trends Startups Should Follow

In recent years, technology has been evolving exponentially. It is clear that the current tech trends will make or break many companies in the following years. Tech trends will be the driving force behind many changes that await us.

If you want your startup to gain a competitive edge, these are the 5 most important emerging tech trends you should follow.

Artificial Intelligence (AI) and Machine Learning

Artificial intelligence may be the biggest tech trend at the moment. AI and machine learning have made their way into our homes and workplaces. From creating personalized shopping experiences to helping us answer emails and analyze data, AI is revolutionizing the way we live and work.

AI and machine learning have become tools that help us interpret and understand the world around us. An increasing number of companies and professionals, including healthcare providers, stock traders, and car companies, are relying on machine learning to improve their performance, services, or products.

For instance, the volume of data we collect on COVID-19 infection rates and the success of the measures we take to slow down the pandemic is constantly increasing. To find efficient solutions for COVID-19-related problems, researchers are feeding this data to machine learning algorithms.

From analyzing interactions uncovered through contact tracking to monitoring the capacity of public areas, self-learning algorithms have the ability to spot connections that human analysis is not able to detect.

From socializing and shopping to recruitment, meetings, and virtual working environments, more human activity will take place online as a result of the pandemic. Businesses will use machine learning algorithms to analyze and understand the changing patterns of consumer behavior. The AI tools we use to analyze these behavioral shifts will become more commonplace.

More and more organizations will build the necessary infrastructure and set aside funds for AI technologies. Others will rely on AI as a service (discussed below).

Robots

The use of robots is becoming more common in the assisted living and care sectors. When it comes to interacting with the elderly and other members of society that are vulnerable to infection, these robots will become increasingly important.

Instead of using robots to replace human interactions, companies will use them to offer new channels of communication.

Businesses across the board are already using virtual assistants and chatbots powered by AI to offer 24/7 support to their customers. The next step will be using physical robots to provide 24/7 in-home and in-the-workplace help to everyone who needs it.

Companies are increasingly turning to robotics providers for services such as security and cleaning. The stock prices of companies involved in supplying robots are soaring at the moment.

Extended Reality (XR)

Extended reality includes augmented reality, virtual reality, and mixed reality. The term covers technology that uses cameras, headsets, or glasses to merge the virtual and physical worlds. By 2022, the XR market is projected to surpass $200 billion.

Soon, XR will allow consumers to head to lunch in some faraway country or shop for a new house as if they were actually on-site.

We are already seeing an increase in the use of AR and VR tools in education. The University of Virginia has developed a VR based classroom that helps teachers improve their classroom management skills.

Some manufacturing companies have started to use VR for on-the-job training because it is safer. It also allows them to simulate dangerous scenarios without actual danger.

5G and Enhanced Connectivity

5G doesn’t just mean that we will be spending less time waiting for YouTube videos to launch or webpages to load. Each time mobile connectivity evolved to a new level, we discovered new use cases for the internet.

For instance, 3G made data-driven services and web browsing useful on mobile devices. And, as bandwidths increased with the introduction of 4G, streaming video and music platforms started to grow.

Cloud-based gaming platforms such as NVidia’s GeForce or Google’s Stadia or advanced technologies such as VR and AR will become much more viable when 5G launches worldwide.

Since we won’t need to be tethered to a particular location when 5G becomes commonplace, fiber-based and cable networks may become redundant.

Eventually, 5G will make all other major tech trends available anywhere, any time. There are already some practical examples of this. For instance, Samlar, a Norwegian fishery operator, uses a pilot 5G Telenor Norway network to automate the feeding and care of its fish.

The “As-A-Service” Revolution

AI, robotics, and other technological advancements have become so accessible partially thanks to the “as-a-service” revolution.  The “as-a-service” sector provides services that we need to work through on-demand, cloud-based platforms. It’s one of the reasons why even small businesses and solopreneurs can take advantage of groundbreaking technologies.

Many innovators and startups in all industries no longer need to invest huge amounts of money in specialized equipment, tools, and people in order to deploy cutting-edge tech thanks to the many cloud offerings from companies such as Amazon, Microsoft, and Google.

About the Author:

Michael has been working in marketing for almost a decade and has worked with a huge range of clients, which has made him knowledgeable on many different subjects. He has recently rediscovered a passion for writing and hopes to make it a daily habit. You can read more of Michael’s work at Qeedle.

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