At its launch on June 1, 2006, BrandMillion.com gave consumers a new way to think about brands and a new expectation from advertisers. That new expectation: "If a brand wants a position in my mind, I deserve to be paid for the space."
A recent study from the emerging field of neuroeconomics found that "familiar brands evoke faster, more positive responses in the brain than lesser-known brands," according to E.J. Mundell, a reporter for HealthDay News. Neuroeconomics puts medical and marketing expertise into efforts to understand the consumer's mind.
The study, conducted by Dr. Christine Born, a radiologist at University Hospital, part of the Ludwig-Maximilians University in Munich, Germany, included real-time functional magnetic resonance imaging (fMRI) tests. Born presented the study's findings at the annual meeting of the Radiological Society of North America in Chicago.
"The vision of this research is to better understand the needs of people and to create markets which are more oriented towards satisfaction of these needs and by doing so, avoiding flops in launching new products or services," said Born.
Consider this: If a computer can be thought of as an electronic brain, then a consumer's brain can be thought of as an organic computer--and a form of electronic media. Now consumers can earn ad dollars for their intellectual space, their minds.
Why not? All other advertising space is paid for. Advertisers buy space in other media such as television or magazines for external ads that allow them to achieve a position within the customers' minds. What BrandMillion has done is to simply, and brilliantly, allow the ad money (reward) to continue to flow--directly to the consumer.
BrandMillion rewards consumers for their brand awareness by giving them rewards, including products for brand searches, and soon to come, a portion (20 percent) of its advertising revenues.
When a consumer visits the BrandMillion site and searches for a brand, one of two things happens: The first option is that the brand is already advertised. In this case the consumer will see the advertisement, click on it, and see who earned the reward. The second option is that a consumer searches for a brand name before an ad is placed. In this case, the consumer's brand awareness will earn him or her a reward when an ad is placed for that brand. Either way, a brand-conscious consumer will earn a reward every time a brand is advertised on the site. But consumers have to work for their brand awareness rewards. Tracking their rewards means clicking through on each of the ads, giving advertisers an opportunity to reach consumers with additional brand messages and offers.
For more information on BrandMillion's Advertising Guidelines or to search for brands and earn rewards, visit www.brandmillion.com
BrandMillion is a trademarks of Partheeva Technologies LLC. Partheeva is an Internet media and Web development company founded by Raj Lakkaraju. It is based in Madison, Wisconsin, USA.