A major problem marketers have always faced is the difficulty of proving the exact results of an ad campaign. While technology is helping to lessen this problem, neuromarketing may provide more solutions. In an article I recently came across, author Jeremy Bagnall explains the ability of neuromarketing studies to determine effectiveness of an ad by tracking the eye placement of participants. This experiment is definitely a step up from focus groups that are often plagued by groupthink, etc. See below.
We’re always hearing about new technology that changes the face of business. With all of the innovation in the past few decades, it’s hard to keep up. But new friend and guest author Jeremy Bagnall takes a clear approach to explaining the new technologies that are advancing neuromarketing, so you don’t have to worry about being behind on the technological lingo. Just like marketing automation technology is creating huge strides in the efficiency and success of digital marketing, new technologies like fMRI scans and EEGs are helping the neuromarketing world gain results that directly impact the marketing world. Continuing in the series, check out what Jeremy has to say on the topic…
The first two post received great attention so we thought you might like more! Part 3: In our technologically-advanced world, Big Brother is always watching. In the context of neuromarketing, this translates to eye-tracking technology that allows neuromarketers to determine the ideal placement of menu items, what draws customers’ eyes first, and more. But in this case Big Brother leads to more informed marketing decisions and better results for businesses. In this third installment of the blog series, guest writer Jeremy Bagnall discusses neuroscience’s implications for the business world.
I recently met thinker and writer Jeremy Bagnall. He shared this report on the application of neuromarketing, and I was intrigued. The term “neuromarketing” has been thrown around a fair amount, and it only takes a glance at the exciting research coming from neuromarketing to understand that it’s a concept worth noticing. Jeremy Bagnall sheds some light on the subject with his report, which is a great introduction to the foundations of neuromarketing in the 21st century.
New business development is an often difficult proposition for senior associates at large law firms. Of course, they face considerable demands on their time. Perfectionism used to be their ally back when they had adequate time to focus on one thing at a time and do it well (i.e. law school), but senior associates are usually spread too thin to embrace the fundamentals of new business development. Moreover, great attorneys tend to be introverted (not antisocial… there is indeed a difference).
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Last week I mentioned an experience with a top executive at a small- to mid-sized business (SMB) as we worked to identify opportunities for growth. In it I said, “…we began the discussion of how to find (the desired) growth. We looked at two paths. Core Growth Innovation, growth found in current clients and current markets and New Growth Innovation, growth from customers and markets not connected to current operations.”
To read that post: http://bit.ly/1MSaWHf
The more I thought about Core Growth Innovation it lead me think and consider how I pursue that innovation and what single thing would I share with a business leader who asked about how to lead an innovation effort.
Innovation is critical. Hard to argue I would think… But why innovate? Innovation for the sake of innovation is a hobby not a business model. The obvious answer is you innovate to find profit that is otherwise, in the course of normal operations, not going to be realized. Or is it the obvious answer?