Change How You Buy (your wallet will thank you for it) + Buyology by Martin Lindstrom

In this post: Don't delay, save your wallet today. Learn how companies use neuromarketing, sounds, colors, and more to influence your buying patterns.

Category: Learn Something New

Ramiah Recommended?

Yes! For my fellow shopaholics, this is the book we've been dreading to read but desperately need.

We live in a capitalistic and materialistic society. I think the most salient manifestation of this truth is evident in rap music. as the genre has been growing in popularity -- most of the Billboard top 40 is comprised of this genre -- one of the modern collective messages of material possessiveness has grown with it.

Don't get me wrong, I love Migos and Nicki Minaj as much as the next person, but if you listen to the lyrics closely enough, you hear the purchasing and flexing of designer brands in almost every bar.

Most consumers mimic this theme. Why have a generic detergent when you can have Tide? Why have Ikea when you can have West Elm? Why have Bear Paw when you can have Ugg?

Budget is definitely a prime motivator, but, as Buyology explains, so is the brand name. There is a pride that comes with purchasing and having a Gucci, LA Lakers, or Coca-Cola branded product. There are feelings and memories embedded in company names that influence why we gravitate toward them.

This specific behavior is called Somatic Markers. As Lindstrom explains:

Because when we make decisions about what to buy, our brain summons and scans incredible amounts of memories, facts, and emotions and squeezes them into a rapid response—a shortcut of sorts that allows you to travel from A to Z in a couple of seconds, and that dictates what you just put inside your shopping cart. A recent study conducted by German brand and retail experts, Gruppe Nymphenberg, found that over 50 percent of all purchasing decisions by shoppers are made spontaneously—and therefore unconsciously—at the point of sale. (Page 110)

50 percent. Whether we recognize our connections to these products and the company that produces them, 50 percent of our buying decisions internally process those emotional connections and in split seconds.

Additionally, mirror neurons ("neurons that fire when an action is being performed and when that same action is being observed", page 49), color, sound, and more influence our reactions. Through case studies of Coca-Cola vs. Pepsi, Apple, and Camel cigarettes, the effectiveness of branding, and the influence it has over buyers like you and me, shine through and across all industries.

One of the biggest lessons of the book is the use of fMRIs in studies. The neurology discussed in the book transformed my consumer thinking. Lindstrom writes: "What people say on surveys and in focus groups does not reliably affect how they behave - far from it" (page 21). The true way to get to the bottom of things is by studying people's brain patterns. An fMRI scans the participant's neurons to discern the truth between what the participant does and what they think. When targeted toward buying patterns, researchers can use this to understand what produces will succeed or fail. Crazy, right?

Lindstrom also answers the age-old question: does sex really sell? I won't ruin the punchline for you (if you really want to find out, you can read it in my book notes below), but honestly, this revelation alone was worth me buying the book.

The author tells all of this information in such an engaging way. From describing neurological terms in layman's terms, to ejecting a 'Go Steelers' randomly in a chapter about brands as religions (page 96 for any other Steelers fans). While he could explain things even further in some areas, it was great exposure to this field of neuromarketing.

A challenge for you and me, my purchasing friend: let's think about this book the next time our favorite store is having a sale. Or better yet, on the next Black Friday (I'm still recovering from tjos year's).

Ramiah Reflects

My New Favorite Life Quotes:

• (no life quotes for this book)

Questions to Ask Yourself (and answer!) for your future business:

• What's the secret of your product?

• What makes it stand out?

• Are there any stories or rituals or mysteries consumers associate with it? If not, can we root around and find some?

• Can the product somehow break through the two-dimensional barrier of advertising by appealing to senses the company hasn't thought of? Smell, touch, sound?

Food for Thought:

• Drawing on this quote from page 64, "Like religions, successful companies and successful brands have a clear, and very powerful, sense of mission," what are some brands in your life that have become a religion to you?

Ramiah's Re-read When

Re-read when:

• You are going to make a purchase, especially a big purchase

• You want to be reminded of marketing tactics by companies

• You want a refresher of your buying behavior

• You need to talk yourself out of buying that expensive brand name

See below for my book notes:

RRW - Ramiah Reads When - Buyology.pdf

Download PDF • 677KB

Check out my other posts and book notes here.

Until next time!

Montana Houston