A couple of months ago, Roger Dooley of Dooley Direct told WebProNews about the concept of neuromarketing. In his explanation, he called it, “any use of brain science in marketing.” Although he told us that the topic was gaining more and more attention, we were surprised when we saw a recent blog post from him entitled, “‘Neuromarketing IPO’ a Success.”
By way of Skype, he told us that the title was meant to be “tongue in cheek” and, although it was not fully accurate, it was true. The real story is that Nielsen Holdings, the television and Internet measurement service, went public, raising $1.6 billion. In addition, its stock jumped 8 percent in trading the following day.
All this is related to neuromarketing because Nielsen is a strategic investor in NeuroFocus, which is a neuromarketing service provider. NeuroFocus studies advertisements and products and how consumers react and engage with them. Dooley, specifically, saw that the company is working on supermarket/department store simulations. This virtual technology shows how consumers can reach out and touch products on shelves to examine and put in their cart.
According to Dooley, the significance in all this is the “continued validation of neuromarketing as a viable technology.” He believes this is important because, in the early days of neuromarketing, people distrusted it since unscientific research was published about it. As a result, the industry has a slightly scarred reputation.
“Certainly the Nielsen investment, to begin with, was a big boost not just for NeuroFocus, but for the industry as a whole; and the fact that now Nielsen is a public entity, to me, just further strengthens that credibility of the industry and of NeuroFocus,” said Dooley.