This is the third (and last) part of the interview about Neuromarketing with Steve Genco leading author “Neuromarketing for Dummies”
Edgar Sánchez (E.S.): Somehow you’ve already answered my next question. In a nutshell, what is the current state of Neuromarketing? and what we can expect for the near future?
Steve Genco (S.G.): Well I can have a minor review on this topic, I may think Neuromarketing is not really the focus needed to kind of move the marketing forward. I think that we need to have, like Carla [Nagel] said it in this morning, she said it, we need to go from Neuromarketing to new marketing and I call it intuitive marketing. But what is the style of marketing that is appropriate, given what we know about the human brain and the consumer’s brain and what we’re trying to accomplish in our relationship with consumers. The old models are very one way we tell you much about our product and here’s the reason why and we want you to pay attention to the advertising. There’s a whole bunch of practices that come from a time period before we really understood that the brain operates on all these different levels: conscious and unconscious. So marketers were serious about understanding and leveraging the brain as a whole, what would marketing look like? I think that is the operative question, so the operative question is not what Neuromarketing would look like, but what will marketing look like.
And I think that what we’ve learned about the brain tells us that marketing might be different and less intrusive and less focused on persuasion, less assuming that people don’t want to do what we want them to do. And I think that it opens up the possibilities for a more really like a kind of congenial relation between consumers and marketers. But I think marketing could be less intrusive, less disruptive, less overwhelming in terms of demands in our attention and in our time, but still achieve you know the goals that the marketers have, I think that’s a really big change in the future.
E.S.: And this is what you call intuitive market, a very interesting concept.
E.S.: To finish, do you have something you would like to say to the community? to share to the community? A wide open question as that. Something you think it’s important to say beside this prepared questions.
S.G.: I think these are great questions and I’m really interested in what kind of responses you’re gonna get from various people that you’re talking to. I think there’s lots of different perspectives on where this field is going. I think we’re all kind of lucky to be involved in this field at this point in time because you don’t really get an opportunity to kind of be involved in what is really a kind of scientific revolution and have a lot of things come together for something like Neuromarketing to come on the scene. So it’s exciting to be there, it’s like a lot of bumps in the road and challenges but still it’s really, you know, the amount that we know about the brain it’s accumulating. The scientific knowledge is accumulating at a tremendous rate. We have this technology now, we have a computer sitting on the desktop who has a processing power who only ten years ago it needed a supercomputer in order to do. So we can process this massive amounts of data better required if you’re measuring these different kinds of signals.
We have, you know, algorithms that predictive algorithms, machines, all these wonderful things, and we still have a world in which there’s a need to understand marketing and advertising better. The old saying is still true: Half of my budget is wasted, I don’t know which half. All money that is spent millions of dollars, maybe trillions of dollars a year is spent probably on advertising and marketing. We spending a trillion dollars a year and we still don’t quite know what we’re getting for. So the combination of those things, the brain, the science, the technology and the business need are creating a really unique moment and it’s great to be here. Great to participate and eventually evolve. I really don’t know how it’s gonna go.
Steve, thank you very much for your generosity sharing your time as well as your knowledge with us.
S.G.: My pleasure,
E.S.: It’s been pleasure.