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Table of Contents

1. Curated Careers

2. Trends and Tidbits:

   • WTH is Neuromarketing?

   • Current Trends in Marketing Budget

3. AI Arena:

   • Book Recommender ChatGPT

   • ChatGPT highest revenue spike

4. Interesting reads for the week

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➡️ WTH is Neuromarketing?

✅ Neuromarketing is a field that combines neuroscience with marketing to understand how people's brains respond.

For example: Companies use eye-tracking (like Tobii) to see which parts of an ad grab your attention first or how you navigate a website. This helps them place the most important information or CTAs in the most visible spots.

There are also biometrics involved. Think about measuring the physical responses of people - such as heart rate, skin conductance, breathing, etc.

Or, EEG (electroencephalogram). It records the spontaneous electrical activity of the brain.

During a product test, if a participant's heart rate spikes when seeing a particular feature, it indicates excitement (well, it could also be stress) that provides valuable feedback for product development.

✅ Here’s a case study → how Neuromarketing figured out where to place an advertisement. Picture this:

Scientists wanted to see how ad placement affects our food choices.

They set up a study with 57 people, showing them images of different foods in various screen positions — centre, top, bottom, left, and right. Each participant rated how much they liked the food, how much they wanted to eat and buy it, and how much they'd pay for it.

Here's where it gets interesting:

• Ads for high-calorie foods, like chocolate cake, grabbed the most attention and led to more purchases when placed at the bottom right of the screen.

• Meanwhile, low-calorie food ads, like salads, worked best at the top left.

This proves that even small changes in where an ad appears can make a big difference in what we crave and buy. Here’s the source of the study if you would like or read it in detail.

✅ Let’s see one more example.

Philips needed to choose the best packaging for their ultra-light iron to attract more buyers. They created two designs: one with a left hand holding the iron and another with a right hand.

First, which design sparked a positive emotional response in you? How do you feel about both of them? Think. Internalize, a bit.

In the study, they used fMRI technology to monitor participants' brain activity while they looked at both designs.

The results were surprising:

• The left packaging made people feel uneasy & even a bit disgusted.

• The right-handed packaging caught their attention and built trust.

I would like for you to again take a moment and think why would this happen?

The Neurensics team explained it as "mental simulation"— an unconscious process where the brain imagines using the product. Since about 90% of people are right-handed, it was harder for them to picture themselves using the left-handed iron → leading to negative feelings.

And that’s how and why - Philips switched to right-handed packaging, knowing it would better connect with customers and boost sales. Source.

Additional read: this interesting book called — Brainfluence: 100 Ways to Persuade & Convince with Neuromarketing. Here’s the link.

In other thoughts…

Marketing Budget

According to ~400 CMOs, marketing budgets went from (a pre-pandemic average of) 11% of total revenue to 9.1% in 2023 and is now at 7.7%.

Now get this: paid media investments grew to 27.9% of the marketing budget.

Then, what’s getting cut? MarTech, labour, and agencies.

My question for you: Why do you think this is happening? I know you know.

— Source: Gartner.

I just found this really eye-opening to read: “You have less time than you think. You do not have 24 hours in the day: That’s like confusing revenue with profit. You have 16 hours per day once you factor in the sleep tax.” — source.

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BookRecommender GPT

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🔗 Ethical Concerns of Artificial Intelligence → Link

🔗 Will AI take my marketing job? → Link

🔗 74 AI Statistics to Guide Your Marketing Plan → Link

🔗 10 Jobs AI Will Replace (and 10 That Are Safe) → Link

🔗 How to use AI to make more money and save more time → Link