Carat’s Brand EQ 2022 report looks at how attributes like empathy, honesty, and clear and honest communication lead to increased business profits.
Although it first appeared as a term in 1987, the idea of emotional intelligence beyond IQ was developed starting in 1995 through Daniel Goleman’s bestseller Emotional Intelligence: Why It May Matter More Than IQ. According to Goleman, Emotional Intelligence has five basic attributes:
If in itself it is difficult to find people who have all these qualities, in the case of brands it was not going to be different. According to Carat’s Brand EQ 2022 index, presented last week at the Digital Enterprise Show 2022 (international forum on innovation and digital transformation being held these days in Malaga), there is a clear need for brands to improve their skills and to design a communication centered on empathy.
“The consumption of one brand or another is based on trust, honesty, communicating clearly and adding value to people’s lives – it is difficult for people to choose a brand without showing them what it does for them , what it contributes and how it shows that it knows its consumers-“, they point out from Carat.
“Four out of 10 consumers think that brands do not communicate clearly and that they are not empathetic enough either. In Spain, in addition, there is a lack of honesty and integrity. Self-regulation is an attribute that 53% of the Spaniards surveyed take into account. lack in brand communication and together with empathy, the two worst valued attributes in all the categories analyzed -automotive, finance, food, beverages, retail/mass consumption and technology-“.
The effective work model to reinforce emotional intelligence therefore involves integrating what the audience needs, delving into the possible friction it may have with our product or service and providing a valuable solution that is useful, which implies a deep understanding of people.
That said, it is not surprising that the Brand EQ 2022 is led by three of the biggest and best brands in the world, such as Google, Samsung and Microsoft, since emotional intelligence is also directly related to the financial result. According to the study that has compared how the stock prices of the top 20 brands in the global EQ Ranking have behaved over the last 11 years with the main stock market indices (S
For their part, Apple and Amazon, usual first and second in the brand value rankings, here occupy the 14th and 10th position respectively. Not so in Spain, where Apple dominates the index, followed by Google and Samsung, while Microsoft falls to 14th position. In our country, Netflix loses four positions, up to eighth position, and Disney enters for the first time, eleventh in our country.
In the case of sports brands, Nike climbs five positions (10) and Adidas falls one position (7). In the food sector, almost all the brands analyzed fell, such as Heinz, Kellogg’s, McDonald’s and Oreo, and finance remained the category with the worst emotional intelligence for Spaniards for another year, with empathy and self-regulation being the main points of improvement. Thus, Banco Santander only achieves representation and at the bottom of the table (at a global level Mastercard or HSBC also appear), thanks to the fact that “they have focused their communication on solving people’s financial needs and a large part of their efforts on offering a better experience for its users”, a successful strategy but that “it must be worked from creative, honest and close formulas, which help build that long-term sustainable emotional relationship”.
It also highlights the local score of H