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Obermayer KINDLE NOTES FOR: Neuromarketing: Understanding the Buy Buttons in Your Customer's Brain

Obermayer KINDLE NOTES FOR:

Kindle Image NeuromarketingNeuromarketing: Understanding the Buy Buttons in Your Customer's Brain   by Patrick Renvoise, Christophe Morin

Kinidle: $5.99 US.  Hardback: $10.66 US     Buy from Amazon

New edition of the subject is due from Renvoise and Morin in 2018

38 Highlights

In the book, How the Brain Works, human brain scientist, Leslie Hart, observes, “Much evidence now indicates that the OLD BRAIN is the main switch in determining what sensory input will go to the new brain, and what decisions will be accepted.”

Researchers have demonstrated that human beings make decisions in an emotional manner and then justify them rationally. Furthermore, we now know that the final decision is made by the OLD BRAIN.

THE ONLY SIX STIMULI THAT SPEAK TO THE OLD BRAIN

  1. The OLD BRAIN is self centered.  Think of the OLD BRAIN as the center of ME. It has no patience or empathy for anything that does not immediately concern its well being and survival. If you had the misfortune of seeing someone injured right in front of your eyes, your OLD BRAIN wouldn’t really care: it simply can’t afford to. It’s just relieved that you’re not the one who got hurt.
  1. The OLD BRAIN is sensitive to solid contrast such as before/after, risky/safe, with/without, and slow/fast. Contrast allows the OLD BRAIN to make quick, risk free decisions. Without contrast, the OLD BRAIN enters a state of confusion, which ultimately results in delaying a decision,
  1. The OLD BRAIN needs tangible input: it is constantly scanning for what is familiar and friendly; what can be recognized quickly, what is concrete and immutable. The OLD BRAIN cannot process concepts like “a flexible solution”, “an integrated approach”, or “a scalable architecture” without a lot of effort and skepticism. It appreciates simple, easy to grasp, concrete ideas like “more money”, “unbreakable
  1. The OLD BRAIN remembers the beginning and end but forgets most everything in between.
  1. The OLD BRAIN is visual. Neuroscience demonstrates that when you see something that looks like a snake, your OLD BRAIN warns you instantly of danger so that you react even before the New Brain physically recognizes it's a snake.
  1. The OLD BRAIN is strongly triggered by emotion. Neuroscience has clearly demonstrated that emotional reactions create chemical events in your brain that directly impact the way you process and memorize information.

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 The 4 Steps of Selling to the OLD BRAIN

Diagnose the PAIN and craft a message that concretely demonstrates to your prospect how you will cure it 2. Differentiate your CLAIMS from those of your competitors 3. Demonstrate the GAIN that your solution provides to your prospect 4. Deliver to the OLD BRAIN

 Diagnose the PAIN In this step you should ask the right questions and carefully listen to your prospects. The true PAIN often lies below the conscious level, so be prepared to unveil PAIN they did not even know they had.

 Differentiate your CLAIMS Have you noticed that approximately 95% of all web sites or brochures start with the same sentence: “We are one of the leading providers of…” This is an empty CLAIM that works against you.

Your prospects will always be thinking of two contrasting scenarios, whether they ever come up in your conversation or not: • How does this compare to other options? and • How does this compare to my doing nothing?

Demonstrate the GAIN Listing and talking about the unique benefits of your solution as recommended in Step #2 is all well and good, but it doesn't technically prove anything. Remember, the OLD BRAIN prefers tangible.

Deliver to the OLD BRAIN The latest brain research clearly demonstrates that the OLD BRAIN always makes the final call! When you deliver your message, your impact is directly linked to your ability to sell to the decision making part of your prospect's brain by speaking to it directly, in a language it understands, through the six stimuli that trigger a response.

You will directly increase your chances to sell if you follow the 4 fundamental steps: 1. Diagnose the PAIN and construct a message that concretely shows your prospect how you can eliminate it. 2. Differentiate your CLAIMS from those of your competitors or other offerings in your field. 3. Demonstrate the GAIN that your solution offers to your prospect. 4. Deliver to the OLD BRAIN to get the most impact.

By taking the time to carefully probe your prospect's PAIN, you achieve several goals: • you help them unveil the true source of their PAIN • you establish your expertise by the appropriateness or relevance of your questions • you establish valuable trust with their OLD BRAIN.

Source of the PAIN. PAIN always falls into three main categories: Financial PAIN, Strategic PAIN, and Personal PAIN.

Financial PAIN: this category covers the economic performance or lack thereof. Sales revenues, profitability,  and ROI are good examples.

Strategic PAIN: this category includes issues that affect the business processes used to develop, manufacture, and sell products or services.

Personal PAIN: this category is made up of the feelings and emotions affecting those who are involved in Decision making and the resolution of the PAIN.

 “In order to be irreplaceable, one must always be different.” Coco.  If you are not selling something unique, you are selling as much for your competitors as you are selling for

yourself.  If you read on, it is vital to define what is unique about your product or service before you can get the attention of the OLD BRAIN.

As you'll recall, contrast is one of the six stimuli that impacts the OLD BRAIN.   “We are one of the leading providers of…” This CLAIM fails entirely to impact the OLD BRAIN. Why? It offers no contrast. The highest impact on the OLD BRAIN is achieved when you say, “We are the only provider of…”

CLAIM that You are "The ONLY One" Who Does or Has Something Specific

Treat your Solution as an Invention and Build your Message Firmly on your CLAIMS

What is unique about your solution? If you have difficulties finding something unique about your business, look  beyond pure technology or service differences. Be creative when you make your CLAIMS, like: • the “original” such as Coke or Levi's • “Number One” in sales (at the time): Hertz Rental Car • the “recommended choice” as in “recommended by more doctors” • “genuine” as in Russian Vodka or German cars

You need to find one or several unique attributes about your solution to strongly assert your CLAIMS.

Simply talking about the value is not enough: you have to prove it.

Don't just Talk about your GAIN, Prove it!

The Value Must Outweigh the Costs When a prospect decides to make a purchase, there is always a cost Involved whether it be Financial, Strategic, or Personal. Therefore, it is vital that you demonstrate the GAIN in a manner that is indisputable. GAIN is defined as the difference between the value of your solution minus its cost.

Just like PAIN, GAIN can be broken down into three categories: Financial, Strategic, and Personal.

The Financial GAIN or ROI Return

On Investment is proven when prospects see the evidence of measurable positive return on their purchase like saving money or increasing revenue or boosting profits. 2. The Strategic GAIN includes benefits that are less mea surable yet provide strategic enhancements to your business such as increased quality, faster product diversification, shorter market cycles, easier access to new markets. The Strategic GAIN cannot always be translated into financial GAIN. 3. The Personal GAIN relates to greater peace of mind, more fun, higher pride of ownership, improved chances for a promotion, a greater sense of accomplishment, more self-satisfaction, etc..

Four Ways to Prove the GAIN There are four ways to effectively demonstrate the GAIN to the OLD BRAIN.

They are listed below from most effective to least effective. The effectiveness of each method is largely a function of how tangible and provable each one is. 1. A Customer Story: 80 100%

Proof  Figure 6.1 Demonstrating  the Personal GAIN Customer stories are the strongest possible Proof of GAIN. The  customer story you select should have a number of attributes in common with the prospect you are selling to.

For example, you could say, “ABC company has been using our system for over three months now.

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