Emotional Analytics - Why is it Relevant?
Why is it Relevant?
In a world of data driven marketing, we’re often quick to overlook the role of unconscious preference in brand bias.
With no conscious effort, we form opinions about brands whenever we encounter them, also when we’re not actively looking to buy something. Modern neuro-science studies have clearly demonstrated how our unconscious reactions dominate over our conscious thoughts.
An emotional reaction in favor of a brand will create positive bias. After surveying the purchase behavior of 400,000 respondents across 72 categories in 35 markets, one of Wavemaker’s key insights is that such bias, formed before people even are in the market for a product, plays a fundamental role when they move on to make a purchase decision. A brand with high positive bias is much more likely to convert than a brand with low or no bias –and the multiplying effect of positive bias onto sales ranges between 5 and 9 times, depending on the category.
There’s so much data and it’s not always giving us the information we need.
How can we capture the way positive bias is generated? The rise of data has brought with it a proliferation of metrics. Most of these, particularly in digital, focus on rational and quantitative facts. Marketers measure the exposure of a piece of content by tracking the viewability of banners, the completion rate of videos, the interaction with posts –but seldom evaluate the impact on brand bias and the role it plays within the purchase journey.
Traditional brand measures are not able to intercept brand bias as they focus on measuring the perception when it’s already formed in the consumer’s mind, for example by answering questions like “is this a brand for me?”, “is it a brand I would recommend?”, “does it give me value for my money?”.
Questions like how engaged an ad makes someone feel, what they are feeling when they are looking at the ad, or which elements attack their attention first, are what we try to address through emotional analytics.
Wavemaker has been working with neuromarketing experts Behavior & Brain Lab from IULM University of Milan to study emotional response to videos, banners, images and other digital advertising content to understand what drives positive brand bias.