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Differentiating Your Brand with EQ in the Collision of Tech and Retail

Successful brands are starting to think beyond IQ and more into the world of EQ (emotional quotient or emotional intelligence), where they can truly understand the context behind words. Data alone is no longer the only solution for driving engagement, now brands need to create deeper connections with consumers in order to build an emotional bond.

In partnership with Bing, iProspect created a joint-analysis that explores the rise of conversational interfaces and how brands should consider humanizing themselves. With 87% of consumers expecting to be able to reach their favorite brands via a voice assistant within five years, it’s more important than ever to build branded intelligent agents that can truly speak to consumers.

Key Points from the Analysis:

  • Voice is offering a new outlook on shopping. Within two years, 54% of consumers expect their digital assistant to make purchase recommendations.
  • Phones have become less about apps and more about action as they enable us to engage in personalized experiences in our everyday lives.
  • Marketers need to think of their brand as a seeing, talking, feeling and thinking human that connects with consumers.
  • Digital assistants are getting better at helping consumers every day. In fact, 60% of consumers would say they are helpful and 44% would say they are friendly.
  • Digital assistants are also improving how consumers feel, with 65% feeling happy when engaging with them and 57% feeling grateful.

Whether you believe it or not, every retailer today is taking on the role of a tech company as technology and retail continue to merge into one entity. Devices can tell an entire story about a. consumer’s brand preferences, purchase history and personality, offering more data than ever before. As brands continue to leverage this plethora of information, using EQ will only help further deepen their consumer relationships and propel them into the next stage of retail.