During an engaging panel session at Cannes LIONS 2022 the philosophy of Emotional Intelligence (EQ) was put in the spotlight. Carat has been at the forefront of researching the link between Brand EQ and business growth with its two recent reports. How the two are correlated, and how Emotional Intelligence can be applied on a practical level was the topic of conversation when Carat’s, Sean Healy, (Global Chief Strategy Officer) and Fiona Lloyd (Global Brand President) were joined not only by Victoria Sjardin, VP of Marketing Excellence, International Kraft Heinz Company, but also Dr Daniel Goleman, psychologist and ‘Godfather’ of EQ who beamed in via hologram to the delight of the audience (which was a first for the International Festival of Creativity).
Emotional Intelligence has moved from a specialist to mainstream concept since the term was coined in 1995 by Dr. Daniel Goleman and has gained a significant foothold in business world. When Dr. Goleman first presented EQ one of his areas of focus was the workplace and thoughtful leadership. Today it has become a key element of advanced leadership training. Now this its application to brand building it is an integral part of Carat’s proposition and the subject of two recent global studies on Brand EQ. Following introductions and Dr Goleman materialising on stage in a swirl of digital atoms, the conversation progressed with flurry, passion and the sharing of new data and insight.
Overall, the panel were in sound agreement that key goals for brands are to be genuinely purposeful, authentic and add to value to consumer experience by applying EQ’s key attributes. According to Dr. Goleman, brand EQ consists of five key factors: self-awareness, agility, motivation, empathy and managing relationships. As an example, Consumer Packaged Goods (CPG) brands score their best self-awareness and motivation but lag behind the tech giants and sports brands in other EQ areas such as empathy. Investing in convenience and digital utility are some of the things Kraft Heinz – a big player in CPG – is doing to enhance the customer experience throughout the journey, tells Victoria Sjardin, VP of Marketing Excellence, International Kraft Heinz Company.