Neuromarketing: The Future of Advertising

Neuromarketing: The Future of Advertising

In Morgan Spurlock’s movie, The Greatest Movie Ever Sold, there is a scene where they discuss neuromarketing. Spurlock is put into an MRI machine and shown product images.  The information obtained showed dopamine was released when he looked at images of Coca Cola.  His desire for the product was actually visible on the brain scan. 

What is neuromarketing?  Tech.FAQ defines neuromarketing as, “a field of marketing that involves studying the way people react to marketing techniques and adjusting those techniques to maximize sales and inform the public about a specific product, idea, or campaign. Neuromarketing includes the use of biometric sensors, social studies, and subliminal messaging. While neuromarketing is a relatively new technique, it has been widely implemented in recent years and nearly every marketing agency and medium-large company in the world now uses it.”

Just less than a year ago the question was asked:  Is neuromarketing the future?  AdvertisingAge stated, “Neuromarketing offers a chance to get accurate, factual data about the buying habits of target markets.” However, they also pointed out that, “At the end of the day, neuromarketing is still in its infancy. A technology that is unproven outside of laboratory conditions, prohibitively expensive, and potentially a legal minefield is a technology that requires a lot of capital and a solid brand to experiment with.”

The future may be here sooner than anticipated.  Combining neuroscience and marketing may just be the next big thing available through the use of apps.  ThreeMinds reported, “large companies like Google, Disney, Microsoft and Chevron have already begun to dip their toes in the neuromarketing waters.  And research vendors have responded, recently announcing the availability of portable EEG devices that can wirelessly transmit brain scans to iPads, as well as “full-brain home panels” for original research studies.”

Marketing professionals may be able to use this technology prior to products coming onto market.  Currently researchers from Duke and Emery are studying how products appeal to the human brain

iTunes offers a free series of videos from the University of Warwick about neuromarketing. In these videos, find out how “Cognitive neuroscience has revolutionized our understanding of the consumer’s brain – a fact with huge implications for business and marketing…you will hear from practitioners, clients and academics at the forefront of neuromarketing. Hear how neuroscience is being applied commercially to research and develop new products and services, improve the effectiveness of communications and boost revenue.”

55 Important Technology Terms You Should Know if You Are Starting a New Job

Many people are starting new jobs right now.  Many of them are working with technology or using terminology that they may never have had to use in the past.  Managers and co-workers may toss around words that they assume people already know.  It is imported that people are prepared for this and be proactive in their learning effort.  The following is a list of some of the technology terms people should probably know. (For more terms, check out webopedia.com. That site contains a lot more “techy” terms than the average worker may not need to know, but their site is very comprehensive and a good resource to have.)

Affiliate Marketing – A marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate’s own marketing efforts.

AOV – Average Order Value.

Below and above the fold – Where an ad is displayed on the website and you have to scroll down to see the ad.

Blog Roll – It is a list of links to blogs that a blogger likes.

Bounce Rate – The percentage of initial visitors to a site who bounce away to a different site, rather than continuing on the current site.

CES – Customer Effort Score.

Cloud Computing – Sharing resources rather than having your own servers to do it.

CLV – Client Retention Rate.

Container Tags – Used to affect a certain portion of your material. Container tags operate on the material between the opening tag < tag> and the closing tag </ tag>.

Cookie – A message your web browser uses to identify you and remember information for each time the browser goes back to access the server that gave it the cookie/message.

CPA – Cost per action – the publisher is taking most of the advertising risk, as their commissions are dependent on good conversion rates.

CPC – Cost per click.  Advertisers pay for their ad when someone clicks on it.

CRM – Customer Relationship Management – Managing a company’s relationships with customers and clients.

CSR – Corporate Social Responsibility – Operating a business in a socially responsible and ethical manner to have a positive impact on society.

CTR – Clickthrough Rate – A way of measurer success of an online advertising campaign. Take the number of people who clicked on an ad and divide by the number of times an ad was delivered (also known as impressions).

CV – Curriculum Vitae – Used instead of a resume.  It is a written description of work and experience commonly used by professors and outside of the US.

Data Feed – Users receive updated data from data sources.

Day-Parting – Showing an ad at a specific time of the day.

DM – Abbreviation for direct message.

DMA – Designated Marketing Area (ties in with geo-targeting).

Dongle – A mechanism like a hardware key that only authorized users can use software.

DSPs – Demand-side Platform – DSPs centralized management of accounts and reporting and a central hub for handling data to help with the real-time bidding valuation.

Ethernet – is a family of frame-based computer networking technologies for local area networks (LANs).

Forum – An online discussion group.

HTML – Hyper Text Markup Language – Uses markup tags to describe web pages.

IAB – Internet Advertising Bureau.

iFrame – An HTML structure that allows another HTML document to be put into an HTML page – iFrames are set up as a window frame.

ISP – Internet Service Provider.

Jitter – Flickering on a display screen.

Modem – A device that modulates a signal so that you can receive data.

Nanotechnology – The study of manipulating matter on an atomic and molecular scale.

NPS – Net Promoter Score – Defines the loyalty of a customer relationship.

OEM – Original Equipment Manufacturer – Company manufacturers’ products are sold under the purchaser of that product’s brand name. The original company that manufactured the product is the OEM.

PA – You may hear someone say “talk to my PA”, referring to their Personal Assistant.

PC Suite – A software package used to establish an interface between Nokia mobile devices and computers that run Microsoft Windows operating system.

PING – As in Ping me back – Used a variety of ways.  Usually means to instant message or email someone back.  The word ping in the technology world is actually short for Packet Internet Groper, a utility used to check for network areas.

Plog – A political blog.

Quicktag – A button that inserts HTML in to your post.

RTB – Real Time Bidding.

ROAS – Return on Ad Spend.

ROI – Return on Investment.

Router – A device that decides where information should be forwarded.

RSS – Real Simple Syndication – If you want to receive information from a specific website, you can click on the RSS feed button and have updates from that site show up on your RSS reader such as Google Reader.

Sales Deck – Your sales presentation/slides you present to the customer.

SEO – Search Engine Optimization – Improving the ability to be seen on a website by search engines.

SEM – Search Engine Marketing – A form of marketing to promote a website through increasing visibility in search engine result pages (SERPs).

Time Shifting – Refers to recording programming for later use.

Toggle – Toggling means to switch from one setting to another. It implies there are only two settings.  Think of a light switch that clicks on or clicks off.

Twaffic – Twitter traffic.

Twishing – The act of sending a message to a Twitter user in an attempt to obtain his or her name and password. Think Tweeting and Fishing combined.

URL – Uniform Resource Locator – The address of a file on the Internet.  Think – http://

View Throughs (also known as Post-Impressions)  – If an ad on a site influenced consumers to search, then purchase a product,  the referrer gets credit for influencing the purchase behavior.

WAP – Wireless Access Point – A device that allows wireless communication. It usually connects to a router.

Wiki – A website that allows a lot of people to add to the content for collaboration.  Think – Wikipedia.

XML – Extensible Markup Language.

There are so many terms; it is hard to just pick 55.  Please feel free to respond and add any words that you feel are just as important to be aware of in today’s workforce.

How to Get Free e-Books

Are you considering buying an e-reader but don’t have the money to pay for a lot of e-books?  You might consider going to the library.  Libraries are offering more and more electronic titles.  Keep in mind that certain libraries may not have the ability to download files into specific readers.  I am in Arizona, and the local library here cannot download files for the Kindle or the iPad.  They do offer titles for other readers such as Nook, Sony Reader, and Libre.  Even if your local library doesn’t support certain readers, you can still find sites on the Internet that do.

How do you get the titles onto your reader?   You will first need to download the Adobe Digital Editions software.  You can obtain this by Downloading the Adobe Products Digital Editions Software.    One that is downloaded you can then connect your e-reader through a USB connection to your computer and transfer the book to your e-reader.  Adobe’s site also allows you to download free sample e-books.

If you are looking for more free e-books, check out:

Free-ebooks.net  

Guttenberg.org has over 33,000 books that you can read on your computer or many other devices including iPad, Kindle, Nook, Sony Reader, iPhone, iTouch, Android and more.

Barnes and Noble offers a free trial membership   

For a more complete list, read the following article: 20 Best Websites to Download Free Books

Suggested reading about e-books/e-readers:

Using e-calibre for Your e-Books Conversion Needs

What Kind of e-Reader are You?

Top 15 Articles to Help with Confusion about How to Choose an e-Reader and Application

e-Texbooks and iPad

e-Books vs. Traditional Books

Colleges to Offer More e-Books

5 Ways that e-Books are Better than Paper Books

What is the Status on Apple’s iAd?

MOBILE

Getty Images

Apple Chief Executive Steve Jobs unveiled plans for the iAd service during a product event in April.

image via online.wsj.com
 

This summer Apple introduced iAd, its mobile advertising network for use with iPhone and iTouch.   Since I teach a lot of marketing courses, I was curious to see if this has been successful.  WJS.com reported that the service has gotten big brands interested in these ads.  

Some are complaining about the ad rates being high, with Apple requiring a minimum of $1 million in advertising commitments.  Although the service is only currently available on iPhone and iTouch, they will be making it available to iPad soon.

Using Calibre for Your e-Books Conversion Needs

On their site, Calibre states that their product is a one stop solution to all of your e-book needs.  I have used Calibre to convert my books and PDF files for use on my iTouch and iPad.  I like their product.  It is a free open-source program that is used in over 160 countries.

You can download it for Windows, OS X or Linux by clicking here.   

I like that they have some easy tutorials that can show you how to convert your files. 

Features of their program include:

  • Library Management
  • e-Book conversion
  • Synching e-Books to Reader Devices
  • Downloading News from the Web and Converting to e-Book Format
  • Comprehensive e-Book Viewer
  • Content Server for Online Access to Your Book Collection