Getting Into the Mind of the Consumer
Former Duke student Jack Stauch and his startup NeuroSpire offers cost-effective brain-scanning technology and analysis to companies looking to predict the effectiveness of their ad campains. A study participant uses a brain-scan headset that is hooked up to NeuroSpire software. The participant is then shown images of the advertisement campaign, and the software records the reaction the participant has. Neurospire takes the data and reports back to the company on the effectiveness of its ad campaign. The process costs around $5000 dollars, a huge difference from the $100,000-$200,000 it would cost with traditional equipment. The only criticism of this method is that although it shows the participant’s reaction to the ad (whether or not she or he will buy it), it does not necessarily mean people will actually commit to buying the item advertised.
To find out more about this breakthrough in Neuromarketing, click here