30 July 2019

How does Neuromarketing work in Luxury Jewelry?

Neuromarketing is a commercial marketing communication field that applies neuropsychology to marketing research, studying consumers' sensorimotor, cognitive, and affective response to marketing stimuli. Neuromarketing seeks to understand the rationale behind how consumers make purchasing decisions and their responses to marketing stimuli in order to apply those learnings in the marketing realm. –Wikipedia



Neuromarketing in Luxury Jewelry

Luxury Jewelry sales do not depend on market demand nor does it aim to respond to consumer needs. Jewelry generates desires, creates emotions and sells dreams. Neuromarketing is responsible for outlining these emotions and creating engagement in the mind of the consumer to choose a particular brand, depending on how it appeals to their feelings.
In luxury jewelry- in the luxury sector in general- the rational logic of large consumer demand marketing is not applied. Jewelry responds to experiential marketing. The intangible world of emotions.
Jewelry Luxury brands have the desire to make your dreams come true. 
The motivation for buying high-end good is based on the emotional implications and the image of status that luxury good projects on the person who can acquire or own it. Luxury is about selling the dream of being a handsome successful woman or man. Luxury brands sell authentic lifestyles.
Unlike costume jewelry consumption, on luxury one customers do not look for a good price-quality ratio. What they really want is the added value and the exclusivity of that jewel brings to them. We are talking about status, exclusivity, prestige, and distinction.


Neuromarketing tools for your jewelry store


1. Sell your jewelry as exclusive!

Sell your jewelry as exclusive! Customization is a good way of doing it. You must find your Unique Selling Proposition and achieve it. We have an innate yearning to gave some sway over the world. People simply want to have things that are tailored to their personal needs and interests. In essence, customization is an important factor in putting a product or service.

 

2. More Choices? More risk for dissatisfaction


Too many options confuse. And a confused mind does not buy. Customization eliminates the stresses and pitfalls associated with too many choices by leaving the consumer with one solution that is tailored specifically and purposefully to their needs and desires.


When you are valuing among all the options you’ll have a tough time deciding between one or another. And when you have already decided, you still have the doubt of whether you could have chosen other options that were more satisfactory or more appropriate for your case. So, you aren't entirely 100% sure that you have chosen the best option.


3. Smell

The smell is important if we want our store to be remembered.


Humans are able to recognize approximately 10,000 different odors, and what’s more remarkable, we are able to recall smells with 65% accuracy after a year, in contrast to only 50% of visuals after three months. –Sense of Smell Institute.


But it does not only affect the memory, but it also does it in making purchasing decisions. Because it is highly emotive.  Smells alert us, make us flee or attack, connect us with moments from our past and make us relive feelings and emotions.


Scientific studies show that aromas connect with our unconscious and activate emotions and instincts that influence our mood and this happens long before we can perceive it. Instincts and emotions are the reason for 90% of the purchase decisions we make.


Preferably, customers like it when it is neutral but with a characteristic touch that goes with the essence of the brand. If you create an aroma for your jewelry stores, you will be able to position yourself in the minds of your customer every time they smell a similar aroma. An aroma diffuser can be your great ally!


4. Music

It is a well-known fact that music is a conditioner of psychoanalytical processes and that is why it becomes a key element of marketing. Music can reinforce this feeling that we pursue with light and smell. In supermarkets, for example, if Italian music sounds more Italian food is sold.
For your jewelry, we recommend relaxing music always controlling it in a soft volume that does not disturb. Jazz music or quiet backgrounds of acoustic versions can be a good option.


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