Randstad sponsors an article on Mindspeller in the leading Belgian financial newspaper.
sponsors an article on Mindspeller in the leading Belgian financial newspaper.
Big data analysis based on neuroscience research: according to Hannes De Wachter, Mindspeller's co-founder, that’s the future of marketing. "unconscious associations are predominantly responsible for our purchase decisions"
Hannes draws inspiration from the work of Daniel Kahneman, winner of the 2002 Nobel Prize in Economics. With his bestselling book Thinking, Fast and Slow, he laid the groundwork for the idea that 95% of consumer behaviour is determined by our unconscious ‘system 1’ or ‘autopilot’ part of the brain.
"We calculate and monitor the semantic distance between brand-related stimuli and their intended associations in our neural network."
While Hannes was enthusiastic about the findings of Daniel Kahneman, Professor Marc Van Hulle, had developed an innovative EEG based Brain-Computer-Interface (BCI) in his neuroscience lab at the KU Leuven university hospital. Prof. Van Hulle was able to allow locked-in patients to communicate by correlating cerebral signals that indicate the extent to which an individual associates two concepts semantically.
Fraction of a second
This new communication paradigm served as a proxy for the unconscious ‘system 1’ because the EEG technique used captures variations of cerebral signals within a few tenths of milliseconds. A period of time too short to be aware of or allow for a rationalised response.
Professor Van Hulle develops this technique further to improve communication prospects for patients. After meeting with Hannes and exploring ideas for increasing overall assurance in marketing communication research, Mindspeller was born.
As spin-off from Europe’s leading university in terms of innovation, Mindspeller mapped a semantic network of over 2 million unconscious associations, a neural network validated later with Prof. Van Hulle's EEG technique.
"This network is a relevant approach to the average consumer's unconscious ’system 1’ autopilot. The company developed algorithms to position brand-related stimuli used by marketers (brand names, logos, tag lines, images, videos, smells, copy, etc.) in the network. We can thus monitor the campaign impact on the subconscious level by calculating the semantic distance between these concepts and their intended associations."
Mindspeller AI offers advice based on neuro-positioning in the network
It sounds like science-fiction but make no mistake: the market for big data neuromarketing is rapidly evolving. "Neuromarketeers can help advertisers, advertising agencies and content agencies before and during the creation of a campaign."
"In the concept phase, our algorithms help generate category, brand or product visions and campaign storylines with limited input from the advertiser. In the creation phase, agile neuro-positioning of concepts allows for A/B testing and actionable insights that help steer the brand's position towards the intended associations."
'Gut feeling' no longer in charge
This technology makes it easier and more reliable to assign value to a brand. "There is still no scientifically validated neuro-metric to underpin brand value.
As a result, intangible assets are often underestimated on companies' balance sheets. Thanks to neuromarketing, it is possible to work with scientifically sound KPIs that underpin the impact of the creative, intangible aspects related to a brand."
This trend will open up completely new avenues in the field of marketing. "I'm thinking of neuromarketeers who will be advising creative designers on the best way to connect various brand-related associations. Gut feeling alone, which we all know can fool us from time to time, will gradually get flanked by scientifically sound neuro-metrics."