Singapore Press Holdings (SPH) and neuroscience technology company NeuroTrend have signed a memorandum of understanding (MoU) to jointly launch a neuromarketing consumer insights lab. This is in a bid to provide deeper level consumer insights for advertisers, read a press statement.
The lab, which can simultaneously process five respondents at a time, will be located at the SPH News Centre to cater to the media company’s clients. It is also NeuroTrends first joint-commercial neuromarketing lab outside of Russia.
Through the partnership, NeuroTrend will analyse the data acquired from respondents using its patented neuroscience complex software and algorithms. This is enhanced by artificial intelligence, focusing on the parameters of interest, emotions, attention and memory. A report will then be generated advising the media company on how print or video advertisements can be optimised for maximum impact.
The typical method used to analyse respondents is to fit them with an Electroencephalography (EEG) headset, an eye tracker, a polygraph instrument and a facial reader camera. This non-invasive hardware is integrated to collect signals from the brain, eye movements, physiological measurements and facial expressions, which are then sent to a server.
Ignatius Low (pictured second from right), head, media solutions, integrated marketing, at SPH, said with the Neuromarketing Consumer Insights Lab, advertisers and agencies can now leverage on cutting-edge neuromarketing research. This is for ad concept testing to give them a better understanding of content consumption behaviour and how context affects ad effectiveness.
“SPH is constantly innovating and offering new technologies and media products to better serve our advertisers. The customer insights and intelligence generated will add value to their marketing strategies and campaigns, helping them to effectively target and engage their audiences across our multiple media platforms,” Low added.
“Globally, neuromarketing is the new frontier in the advertising industry helping companies to optimise their marketing dollars and we are glad to bring it to the global stage from Singapore,” Natalia Galkina (pictured second from left), CEO, NeuroTrend, said.
NeuroTrend has worked with global companies such as Johnson & Johnson, KFC, Knauf, Lays, Pepsico, Pfizer, Philip Morris, Teva Pharmaceutical, World Wildlife Fund and more. It also provided over 1,000 consumer insight reports for over the last two years in Russia. Following its Singapore launch, it looks to launch four more neuromarketing labs with other partners in Southeast Asia.