For my third blogpost, because of my personal ties, I decided to research interesting Hungarian startups. In the past years, many interesting startups appeared in Budapest such as Presi or Tresorit, that inspired new founders and investors and boosted the whole startup scene in Hungary. The business I choose to present emerged from this creative boom and belongs to one of the most innovative and promising Hungarian companies.
Every marketing professional would like to know what is in his or her customers’ brain. Research has shown that emotion guides approximately 80% of customers’ decisions of whether or not to purchase. Synetiq is a crowdsourced neuromarketing research company that lets media companies and advertisers to have a look into the viewers head and understand the consumers’ cognitive and affective response to marketing contents.
“We’ve got an incredible community of couch potatoes who use wearable devices to observe their emotional reactions while watching TV at home. “
Neurmarketing is a very powerful field of research analyzing the customers’ cognitive actions to find stimuli that will influence us to get excited and purchase products. It’s not a new concept, so if you are interested, this Ted summarizes well how marketers can make use of the stimuli. However, to connect neuromarketing to crowdsourcing is a creative and innovative idea.
The main advantage of Neuromarketing: Consumerts don’t know what they want.
Synetiq provides insights about the viewer’s emotions while watching the content of media companies. Almost everyone can become a tester, earn money from the couch and influence the media world. Synetiq uses wearable headsets, skin conductance and heart rate sensors, eye-tracking devices equipped with biosensor technology to collect the data real time from the testers. This technology is capable to record, analyze and quantify the results of the viewers’ emotional reactions such as Affinity, Excitement, Engagement, and Vigilance. Media companies can submit their material and receive information about the viewers’ feelings and reactions to create more effective campaigns targeted to their core customers. The testers receive monetary benefits, get the chance to look at the data they created, which might motivate curious users and have the feeling that they contributed and influenced the media world. Besides the major Hungarian media channels, BBC and HBO leverage of this technology and became brand advocates of Synetiq.
“Using Synetiq’s range of neuro and biometric techniques and interpretive expertise gave us real second by second detail on how the audience emotionally engages with our content – which will help us maximise the creative impact of what we do.“ – Head of Audiences, BBC
It is more cost effective than labor experiments and more reliable than simple customer surveys, as oftentimes the people do not really know what they want or have difficulties with understanding and quantifying their own feelings. I am very curious about the future of Synetiq. What do you guys think? I would love to hear your opinion, so please leave a comment bellow.