Every year, hundreds of billions of dollars are spent on advertising to communicate brand messages. Modern marketing, which is part art and part science, has had many innovations leading up to where it is today. Now, companies have revolutionary new tools in measuring how brains actually respond to advertisements through discoveries in the field of neuroscience. In researching the new field of "neuromarketing", one company stood out above the rest. Neuro-Insight was founded five years ago by Dr. Richard Silberstein, bringing new advanced technologies into the marketplace. Headquartered in Melbourne, Australia, the company now has offices in London and New York. Recently, ICOSA sat down with Pranav Yadav, the CEO of Neuro-Insight USA, in New York City.
Compared to traditional methods such as EEG and fMRI, NeuroInsight's patented technology, known as Steady State Topography (SST), offers serious advantages for marketing. EEG measures neural amplitude, which ambiguously describes a subject's brain activity, while SST measures the speed of electrical activity and has a higher signal to noise ratio. This means it provides clear insight into precise brain activity after only one test showing of an ad, while the other methods require 6 to 10 trials.
Some ads work. Some do not. Advanced neurotechnology empowers companies to make intelligent choices and to get results.
Dr. Richard Silberstein explains Neurostates and how they can affect media: