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Got Neuromarketing?

bill reed

By Bill Reed
Posted on October 2015 in Market Strategy

What do Google, Microsoft, eBay, Yahoo, GM, Chevron, Nestle, PepsiCo and Coca Cola have in common? They’ve all recently increased investments in neuromarketing. The term was coined by research professor Ale Smidts over a decade ago, but psychologists at Harvard University developed the concept many years earlier. They postulated that over 90% of human perception, thinking, and decision activity is subconscious. Marketers are interested because they know that perceptions, for most people, equate to reality and therefore lead to buying decisions.

The science has gained notoriety in Business to Consumer (B2C) marketing but it’s now catching the attention of Business to Business (B2B) sales and marketing professionals. Unfortunately, the marketing consulting and advertising agencies they rely on are usually one level below clueless. Few have even heard of the term and virtually none have years of experience in the field. Some tech companies are tapping experts on the B2C side of the fence, but few of these are knowledgeable about technology solutions, buyers or channels. Why should you care about neuromarketing or neuroscience?

Don Metzger, CEO of DNB Ventures, says, “Neuromarketing is heating up and business professionals who remain uninformed do so at their own peril.”  Is he right? According to research from the Sales Benchmark Index, 60% of qualified pipeline deals end in no decision. We often hear from sales professionals that their top competitor is “Mr. Do Nothing,” but rarely do I see a Battle Card from marketing about this guy. Daniel Kahneman, Nobel Prize-winner and social psychologist, tells us that people will overcome Mr. Do Nothing two to three times more often to avoid pain rather than gain a “value benefit.” Yet marketing assets are chocked full of the latter and are often void of the former.

Forrester Research reports that 74% of decision makers will select the company that best articulates a “buying vision.” This again has little to do with a long list of value propositions, clever ways to overcome objections, or twenty questions to maneuver a customer into your corner. Five years of comprehensive field research from Aventi Group, across thousands of customers and hundreds of deals, reveals that marketing professionals who empower their sales teams to deliver Thought Leadership in the form of an Unrecognized Need or Risk win the battle over Mr. Do Nothing five times more often.

What is an Unrecognized Need? It’s a powerful message that, when delivered in the right way, speaks directly to our Reptilian Brain. This part of our brain is instinctual and responds to fear of loss or harm. It also does not understand logic, numbers, or written words. Therefore, it’s critical to paint a visual and kinesthetic sales story in the mind of the customer. With the right instruction, this is actually easier to do than it sounds. Here’s an actual example that has been proven to motivate customers to take immediate action seven out of ten times:

Salesperson: What information are you archiving? Is it personal information on individuals who reside in your state, such as customers, employees, or others?

Customer: Yes, we have quite a bit of this kind of information.

Salesperson: What concerns do you have ab out adequately protecting that personal information? What are the possibilities of a security breach?

Customer: We always have these concerns but believe we have adequate security in place now.

NOTE: Here’s where a salesperson who has not been properly empowered or trained might redirect his questions over to another pain point, thereby missing the real opportunity.

Trained and Empowered Salesperson: A friend of mine is the CISO for a major corporation. He didn’t know about the new CA State Bill 1386 updates that increase fines and law suits for inadequately protecting State resident information. For example, if any personal information is exposed, you can now be more easily fined by the State and sued by individuals. My friend’s firm had to publicly announce the breach, so the total cost for fines, litigation, and lost customers was several million dollars. Unfortunately, he was never informed about the State Bill’s Safe Harbor.

Customer: What’s the Safe Harbor?

Salesperson: Fortunately, there is a Safe Harbor in your State Bill that nullifies the consequences if you have adequate protection, but that protection must comply with the State Bill’s requirements.

Customer: How do we ensure we comply?

Salesperson: I recommend we schedule a no-cost risk assessment with my technical team to determine where your holes might be and to review all the details of the State Bill’s Safe Harbor to ensure you comply. We’re open next Tue or Thu afternoon, which is best for you?

There are several examples of neuromarketing, neuro-linguistic techniques, and neuron-selling in the example above, and this approach has proven to be highly effective with actual IT and IS decision makers across hundreds of sales calls.

Perhaps Don Metzger is wrong. Perhaps business professionals who remain uninformed about the power of neuromarketing and neuroscience in sales and marketing have nothing to risk at all. On the other hand, maybe the opposite is true. One great way to find out is to attend an Aventi Group Neuromarketing Seminar wherein you’ll learn:

✓ What neuromarketing is all about and how it’s impacting dozens of leading companies worldwide
✓ Why neuromarketing is dramatically increasing customer purchases and long-term loyalty
✓ How to use neuroscience to negotiate deals, wins sales, and improve messaging
✓ Why social media is 10x more effective using neuro-linguistic and neuron-imaging techniques
✓ How to leverage neuroscience to get customers to love your brand more than competitors
✓ How to use neuroscience to transform your presentations, brochures, web pages, banner ads, etc.
✓ A unique new approach to demand generation messaging that improves conversion rates by 36%
✓ Using a neuroscience-based 3-Act Sales Play to turn ordinary collateral into thrilling “best sellers”

CLICK HERE to learn more about Aventi Group’s Neuromarketing Seminar
CLICK HERE to learn more about Aventi Group’s Neuron-Selling Workshops
CLICK HERE to learn more about Aventi Group’s Neuron-Messaging Workshops