Entwined deeply in psychology, it’s no surprise marketing is driven on consumer habits, but what if we could take it a step further, making buyer predictions the moment a consumer sees or hears about a product? With developing emotion detection and recognition technology, truth is, we are already there.
According to a recent study by MarketsandMarkets, the emotion detection and recognition market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 39.9% from USD 6.72 Billion in 2016 to USD 36.07 Billion by 2021.
While this may open doors for marketing, what does this specifically mean for businesses? As your partner agency, here is what we at Agency Entourage think you should know:
What Exactly is Emotion Detection and Recognition Technology?
Emotion detection and recognition identifies human emotions typically from facial expressions and body language. While humans do this automatically, there are programs, patents and developing technologies out there that are capable of using computers to also analyze human emotions and reactions.
How is it being applied to marketing now?
There are various programs out there that are being used today. For example, emotion measurement technology Affectiva, developed in 2009 out of the MIT lab, has been used to help advertisers and content creators sell their products more effectively. Affectiva offers various emotion recognition products which can sense and adapt to human emotions through emotion-enabled apps, devices and digital experiences as well as facial coding and emotion analytics to measure unbiased consumer emotional responses to digital content.
How will it be applied to marketing in the future?
Have you seen the recent articles about Facebook patents floating around? While it has created a bit of a frenzy, it’s good to remember that emotion detection and recognition technology has been around for a few years and it makes sense social media platforms would entertain the idea of implementing this.
Beyond social, Hubspot shares great predictions on what this technology will do for the marketing world, including the theory that “online marketing will evolve into sequential experiences with deeper engagement upon recognition of positive emotional reactions.”
At Agency Entourage, we love discussing the latest trends for marketing and helping clients implement the newest and greatest into their marketing strategies. Looking to learn more about emotion detection and recognition technology? Give us a call at (214) 414-3035 or email us at firstname.lastname@example.org.