I’m taking a MOOC course through the Copenhagen Business School on neuromarketing. Although it’s pretty dense with neurological terms and you learn about brain structure, it also focused on how the brain works when exposed to brands, purchasing decisions, and reactions to pricing changes. For a marketer, it’s fascinating.
I just finished the first week where we read some research that’s been conducted into the topic. I tweeted a few facts that I learned while trying to absorb the material. For example, did you know that each second, we are exposed to 11 million bits of information? But we can only process 50 bits. That definitely made me realize that as much sensory information that is flying at us these days, no wonder it’s getting harder and harder to capture the attention of the audience. How do you manage to capture even some of those 50 bits without providing real significant value to your customer, or providing something that really stops someone in their tracks to pay attention to your message?
Another interesting fact is that when viewing a selection of products, 20% of your eye movements focus on what you were intending to select. The other 80% of those movements take in your alternatives. No wonder we get swayed at the grocery store to pick up something other than what we intended. If our selection isn’t a firm decision, you spend a lot of time looking at alternatives. Which explains the finding that 76% of US grocery shoppers make purchase decisions in the store…
Readers, let me know in the comments if you have an interest in reading more about this topic on my blog as I progress through the course.