IIC Journal of Innovation 4th Edition | Page 34

Neuromarketing – The Art and Science of Marketing and Neurosciences Enabled by IoT Technologies adjustments to exterior designs – all based on brainwave responses. 6 7 A PPLICATIONS OF N EUROMARKETING IN I O T R ETAIL O PERATIONS More Efficient Focus Groups (Sit-at-Home Participants via Integrated IoT Technology) Traditional focus groups have been used for many years to identify consumer sentiment toward products, promotions and pricing. Executing a focus group requires not only participant incentive and recruitment expenses, but costs for travel, accommodations and staff. Utilizing neuromarketing technologies, focus groups can now be executed through remote participation to reduce travel and accommodation expenses while capturing more accurate and effective consumer sentiment through the use of eye tracking and emotion detection. Also, the use of integrated IoT technologies such as web cameras and biometric sensors provide researchers the ability to identify eye movements, changes in facial expressions and associated emotions in a standardized, measurable approach. Illustration C: The heat maps show where eye focus was on each copy of the advertisement (Graphic courtesy neurosciencemarketing.com) from the advertisement to help increase sales of baby products. Neuromarketing researchers have discovered that when the baby’s face is looking straight on back at the viewer, the viewer will actually focus on the baby’s face at the expense of looking at the rest of the advertisement. However, if the baby was staring at the text or product in the advertisement, there was higher engagement for the viewer to look at the advertising content. 8 Where the Eyes Are Looking (Eye Gaze Placement) It is widely known and researched that advertisements with people and faces tend to attract longer and more focused attention from prospective buyers. Marketers have used pictures of cute babies gazing back 6 Neuromarketing Hope and Hype: 5 Brands Conducting Brain Research, FastCompany, 09/15/2009 7 The Future of Digital Business Innovation, Vincenzo Morabito, 03/05/2016 8 Baby Pictures Really Do Grab Our Attention, Neurosciencemarketing.com, 08/13/2014 IIC Journal of Innovation 33