As leaders, it’s not just about what we know, but also about how we interact with others and manage our own emotions.

Emotional intelligence, or EQ, is the ability to recognize and understand our own emotions, as well as those of others, and use this information to guide our thoughts and actions.

Here are a few tips for incorporating EQ into your leadership style:

Self-Awareness

Self-awareness is a critical aspect of emotional intelligence and a crucial part of effective leadership. By understanding our own emotions, we can better understand how they impact our behavior and decision-making. This, in turn, can help us respond more effectively in difficult situations.

Here are some practical ways to improve self-awareness:

Reflect on your emotions: Take time each day to reflect on your emotions and thoughts. This can help you identify patterns and understand how they impact your behavior and decision-making.

Keep a journal: Writing down your thoughts and emotions can be a powerful tool for self-reflection and self-awareness.

Seek feedback: Ask trusted colleagues, friends, or family members for honest feedback on your behavior and decision-making. This can provide valuable insights into your emotional state and help you make changes for the better.

Practice mindfulness: Mindfulness meditation can help you focus on the present moment and increase self-awareness. This can help you understand your emotions and thoughts in real-time and make more informed decisions.

Take responsibility for your actions: When things go wrong, it’s easy to point the finger at others. However, it’s essential to take responsibility for our actions and understand the role our emotions played in a particular situation.

For example, imagine you’re leading a team meeting, and someone presents an idea that you don’t agree with. Instead of immediately dismissing the idea, take a moment to reflect on your emotions. Are you feeling frustrated or defensive? 

By understanding your emotions, you can respond to the situation more effectively, by respectfully addressing the idea and seeking to find a solution that works for everyone.

Active Listening

Pay attention to what others are saying and show that you’re interested in what they have to say. This can help build trust and foster open communication.

Active listening is a vital aspect of emotional intelligence and a key component of effective leadership. It involves paying full attention to what others are saying and showing that you’re interested in what they have to say.

This helps build trust and foster open communication, which is essential for creating a positive and productive work environment.

Here are some practical tips for active listening:

Put aside distractions: When someone is speaking to you, put aside any distractions, such as your phone or computer, and give them your full attention.

Repeat back what you hear: Repeat back what you hear to ensure you understand what the person is saying and to show that you’re paying attention.

Ask clarifying questions: If you’re not sure you understand something, ask clarifying questions to ensure you have a full understanding of what’s being said.

Avoid interruptions: Interrupting someone while they’re speaking sends a message that you’re not interested in what they have to say and can undermine trust. Instead, let the person finish speaking before responding.

Body language: Your body language can also convey interest or disinterest in what someone is saying. Maintain eye contact, nod in agreement, and use other positive gestures to show that you’re engaged in the conversation.

For example, imagine you’re leading a team meeting, and someone presents an idea that you’re not familiar with. Instead of immediately dismissing the idea, you practice active listening by putting aside distractions, repeating back what you heard, asking clarifying questions, avoiding interruptions, and using positive body language to show your engagement in the conversation. 

This approach helps build trust with the team member and encourages open communication, leading to a more productive and successful meeting.

Communication Skills

Use clear and concise language when communicating with others and avoid using language that might be perceived as negative or judgmental.

Effective communication skills are an essential aspect of emotional intelligence and an important tool for effective leadership. By using clear and concise language when communicating with others and avoiding language that might be perceived as negative or judgmental, you can build stronger relationships and foster a more positive and productive work environment.

Here are some practical tips for improving your communication skills:

Be clear and concise: When communicating with others, make sure to use clear and concise language. Avoid using technical jargon or complex phrases that might be difficult for others to understand.

Avoid negative language: Negative language, such as complaining or blaming others, can be perceived as judgmental and undermine trust. Instead, focus on using positive language and finding solutions to problems.

Active listening: As mentioned earlier, active listening is an important aspect of communication. By truly listening to what others are saying, you can better understand their perspective and respond in a way that builds trust and fosters open communication.

Non-verbal communication: Non-verbal communication, such as body language and facial expressions, can also have a significant impact on how your message is received. Make sure to use positive non-verbal cues, such as nodding or smiling, to convey that you’re engaged and interested in the conversation.

Empathy: Empathy is the ability to understand and share the feelings of others. By demonstrating empathy in your communication, you can build stronger relationships and foster a more positive and productive work environment.

For example, imagine you’re leading a team meeting and one of the team members has a concern about a project. Instead of immediately dismissing the concern, you use clear and concise language to understand the issue, avoiding negative language and using active listening and positive non-verbal cues. You also demonstrate empathy by understanding and acknowledging the team member’s feelings. 

This approach helps build trust and fosters open communication, leading to a more productive and successful meeting.

Conflict Resolution

When conflicts arise, approach the situation with an open mind and a willingness to find a mutually beneficial solution.

Conflict resolution is a critical aspect of emotional intelligence and an important tool for effective leadership. Conflicts are a natural part of any relationship or workplace, and it’s important to approach these situations with an open mind and a willingness to find a mutually beneficial solution.

Here are some practical tips for resolving conflicts:

Address the conflict early: The longer you wait to address a conflict, the harder it will be to resolve. As soon as you become aware of a conflict, take steps to address it.

Listen actively: It’s important to hear both sides of the story and try to understand each person’s perspective. This will help you identify the root cause of the conflict and come up with a solution that addresses everyone’s concerns. 

Avoid blame: Avoid blaming others for the conflict. Instead, focus on finding a solution that addresses the underlying issue. As a leader, you need to model the behavior you want to see in others. Stay calm and composed during the conflict resolution process, even if the situation is tense. It’s important to separate the problem from the person.

Keep emotions in check: Emotions can run high during conflicts, but it’s important to keep them in check. Take a step back and take a deep breath if you need to and try to approach the situation calmly and objectively. 

Identify common goals: Identify what each person wants to achieve and find common goals that everyone can agree on. This can help you find a solution that meets everyone’s needs. Encourage everyone involved in the conflict to come up with solutions. This will help everyone feel invested in the resolution and increase the chances of finding a solution that works for everyone.

Be flexible: Be open to different solutions and be willing to compromise. Keep in mind that a solution that benefits everyone is often not the same as a solution that benefits one person or group.

For example, imagine that two team members have a disagreement about how to handle a project. Instead of immediately assigning blame or taking sides, you approach the situation with an open mind and listen to each person’s perspective. You identify common goals and work together to find a solution that meets everyone’s needs. 

Follow up: After a conflict has been resolved, follow up with everyone involved to ensure that the solution is working and to address any remaining concerns.

By using emotional intelligence to manage conflicts, you can prevent conflicts from escalating, build stronger relationships with your team members, and create a more positive and productive work environment.

Conclusion

By incorporating EQ into your leadership style, you can build stronger relationships, create a positive work environment, and ultimately drive better results. 

Remember, leadership is not just about what you know, but also about how you interact with others. 

Embrace your emotional intelligence and watch your leadership skills soar!

WPP, Publicis, and Interpublic are three of the largest multinational advertising and public relations companies in the world. They operate in North America, the UK, and Europe and offer a range of services including advertising, media planning and buying, market research, public relations, and digital marketing. 

However, the advertising and communications industry is highly competitive and faced with a threat from self-service technology companies such as Marketo, Pardot, Hubspot, Persado, Ayboll, Shopify, Magento, BigCommerce, Hootsuite, Buffer and Sprout Social. 

To differentiate themselves and compete better, traditional advertising and PR companies can emphasize their expertise and experience, offer integrated solutions, invest in emerging technologies, and focus on personalization and customization.

The Largest Agency Market

North America

• Market size: The advertising market in North America was valued at over $200 billion in 2020, with a projected growth rate of 2–3% in the coming years.
• Competition: The advertising and communications industry in North America is highly competitive, with many players vying for market share. Apart from WPP, Publicis and Interpublic, other key players in the region include Dentsu, Omnicom, and Havas.

UK and Europe

• Market size: The advertising market in the UK was valued at approximately £22 billion in 2020, while the European market was worth around €50 billion.
• Competition: The advertising and communications industry in the UK and Europe is also highly competitive, with several large multinationals operating in the region. In addition to WPP, Publicis and Interpublic, other major players include Dentsu, Omnicom, Havas and DDB.

Overall, the advertising and communications industry continues to be driven by the increasing digitization of media, the rise of social media, and the growth of e-commerce. As such, there continues to be significant growth opportunities for companies like WPP, Publicis, and Interpublic in North America, the UK and Europe, particularly in the digital marketing and e-commerce sectors.

Self-Service Technologies Competition

In the advertising and communications industry, there are several technology companies that are providing self-service solutions to businesses and posing a threat to traditional companies like WPP, Publicis, and Interpublic. Some of the key competitive threats in this regard include:

Marketing Automation Platforms

Companies like Marketo, Pardot and Hubspot are offering self-service marketing automation platforms that allow businesses to manage and execute their own marketing campaigns without the need for professional services.

Artificial Intelligence and Machine Learning

 Companies like Persado and Ayboll use AI and machine learning to automate marketing and advertising tasks, such as copywriting and ad targeting, reducing the need for human expertise.

E-commerce Platforms

Companies like Shopify, Magento, and BigCommerce offer self-service e-commerce platforms that allow businesses to set up and manage their online stores, including marketing and advertising.

Social Media Management Tools

Companies like Hootsuite, Buffer and Sprout Social offer self-service social media management tools that allow businesses to manage their social media presence and advertising without the need for professional services.

These technology companies are offering businesses an alternative to traditional advertising and public relations firms, allowing them to perform these tasks in-house with more control and at a lower cost. As such, they represent a significant competitive threat to companies like WPP, Publicis, and Interpublic.

How Agencies can Compete Better

To differentiate themselves against self-service tech companies, traditional advertising, and public relations companies like WPP, Publicis, and Interpublic can adopt the following strategies:

Emphasize Expertise and Experience

They can leverage their expertise and experience in the industry to provide value-added services that go beyond what self-service tech companies can offer. This includes strategic planning, creative development, and market insights.

Traditional advertising and PR companies have years of experience and expertise in the industry, and they can leverage this to offer value-added services to clients. For example, they can provide strategic planning, creative development, and market insights that go beyond what self-service tech companies can offer. They can also bring a deep understanding of consumer behavior and trends, which can help clients make informed decisions and achieve their marketing goals.

Offer Integrated Solutions

They can offer integrated solutions that bring together multiple services, such as advertising, public relations, digital marketing, and media buying. This will allow them to provide a more comprehensive and effective service than self-service tech companies that focus on one or two areas.

Traditional advertising and PR companies can offer integrated solutions that bring together multiple services, such as advertising, public relations, digital marketing, and media buying. This provides a more comprehensive and effective service than self-service tech companies that focus on one or two areas. By offering an integrated approach, traditional companies can help clients achieve their goals in a more coordinated and effective way.

Invest in Emerging Technologies

They can invest in emerging technologies, such as artificial intelligence and machine learning, to provide more advanced and automated services to clients. This will help them stay ahead of self-service tech companies and maintain their competitive advantage.

Traditional advertising and PR companies can invest in emerging technologies, such as artificial intelligence and machine learning, to provide more advanced and automated services to clients. For example, they can use AI-powered tools to analyze large amounts of data, automate repetitive tasks, and provide more targeted and effective advertising and PR campaigns. By investing in these technologies, traditional companies can stay ahead of self-service tech companies and maintain their competitive advantage.

Personalization and Customization

They can focus on personalized and customized services, offering tailored solutions that are specific to each client’s needs and goals. This can help them stand out from the one-size-fits-all approach of self-service tech companies.

Traditional advertising and PR companies can focus on personalized and customized services, offering tailored solutions that are specific to each client’s needs and goals. For example, they can create bespoke campaigns that are designed to meet a client’s specific objectives, rather than relying on generic, one-size-fits-all solutions. By providing personalized and customized services, traditional companies can differentiate themselves from self-service tech companies and offer a more effective and impactful service.

Develop Strong Client Relationships

 They can develop strong, long-term relationships with clients, offering ongoing support and guidance to help them achieve their goals. This will help them retain clients and differentiate themselves from self-service tech companies that offer more transactional relationships.

Traditional advertising and PR companies can develop strong, long-term relationships with clients, offering ongoing support and guidance to help them achieve their goals. For example, they can provide regular reports and updates on campaign progress, offer advice on how to improve results, and work closely with clients to make any necessary adjustments. By developing strong client relationships, traditional companies can retain clients and differentiate themselves from self-service tech companies that offer more transactional relationships.

By differentiating themselves through these strategies, traditional advertising and public relations companies can remain competitive and continue to offer valuable services to businesses in an increasingly self-service tech-driven market.

Tips for Data Driven Investors

Here are some tips for investors to consider when evaluating companies like WPP, Publicis, and Interpublic:

Market Trends

Investors should stay informed about trends and developments in the advertising and PR industry, including the increasing popularity of self-service tech solutions. Understanding these trends can help investors assess the future growth potential of traditional advertising and PR companies.

Financial Performance

Investors should carefully evaluate the financial performance of the companies they are considering, including revenue growth, profitability, and cash flow. They should also pay attention to trends in these key metrics over time to get a sense of how the company is performing relative to its peers and the overall market.

Investment in Technology

Investors should look for companies that are actively investing in emerging technologies, such as AI and machine learning, and are incorporating these technologies into their services. This can help companies stay ahead of the competition and provide more advanced and effective solutions to clients.

Talent and Management

Investors should pay close attention to the talent and management teams of the companies they are considering. They should look for experienced and knowledgeable executives who have a proven track record of success in the industry and have a clear vision for the future of the company.

Diversification

Investors should look for companies that are diversifying their offerings and expanding into new markets. This can help mitigate the risks associated with relying on a single service or market and provide a more stable revenue stream over time.

Client Base

Investors should pay attention to the types of clients a company is serving and the industries it operates in. They should look for companies that have a diverse client base and are not overly reliant on a single industry or market.

By considering these factors, investors can make informed decisions and identify companies with strong growth potential in the competitive advertising and PR industry.

Market Trends in Advertising and PR

There are several market trend opportunities that both traditional advertising and PR companies, as well as self-service tech companies, should focus on in the years to come:

Digital Transformation

The ongoing digital transformation of the advertising and PR industry presents an opportunity for both types of companies to offer more advanced and effective solutions to clients. This includes the use of emerging technologies such as artificial intelligence, machine learning, and automation to provide more targeted and effective campaigns.

Data-Driven Marketing

The increasing availability of data and the need for more targeted and personalized marketing strategies presents an opportunity for both traditional and self-service tech companies to offer data-driven marketing solutions. This includes the use of big data analytics, predictive modeling, and other advanced tools to provide more effective and targeted advertising and PR campaigns.

Social Media Marketing

 The growing importance of social media in the advertising and PR industry presents an opportunity for both traditional and self-service tech companies to offer social media marketing solutions. This includes the development of targeted campaigns and the use of social media platforms to reach and engage with audiences.

Video Advertising

 The growing popularity of video advertising presents an opportunity for both traditional and self-service tech companies to offer video advertising solutions. This includes the creation of video content and the use of video advertising platforms to reach and engage with audiences.

Influencer Marketing

The growing importance of influencer marketing presents an opportunity for both traditional and self-service tech companies to offer influencer marketing solutions. This includes the development of influencer marketing campaigns and the use of influencer platforms to reach and engage with audiences.

Conclusion

In conclusion, the advertising and communications industry continues to be influenced by the growth of digital media, e-commerce, and social media. 

This presents significant growth opportunities for traditional advertising and PR companies like WPP, Publicis, and Interpublic. 

However, these companies face increased competition from self-service technology companies that provide alternative solutions to businesses. 

To truly stay competitive, advertising and communications agencies can also develop in-house technology capabilities by hiring software engineering firms or building dedicated technology teams. This can help them create proprietary tools and solutions, differentiate themselves from competitors, and provide more value to clients.

By combining their industry expertise with cutting-edge technology, they can offer more advanced and innovative services that meet the evolving needs of clients in the digitized world.

However, it’s important for agencies to strike a balance between building in-house capabilities and leveraging external expertise to avoid getting bogged down in technology development and losing focus on their core business.

To better compete, traditional companies can leverage their expertise and experience, offer integrated solutions, invest in emerging technologies, and focus on personalization and customization. By adopting these strategies, traditional advertising and PR companies can remain relevant and maintain their competitive advantage in an ever-changing market.

Lead generation and qualification is a critical aspect of B2B sales success, but it’s also a time-consuming and complex process. 

With an abundance of leads, sales teams often struggle to determine which ones to prioritize and focus on, leading to wasted time and missed opportunities. 

However, by using the power of Design Thinking to score leads, sales teams can take a data-driven approach to prioritize their efforts and increase their chances of winning deals. 

In this blog, we will explore how to use Design Thinking to score leads in a B2B environment, and why this approach can be a game-changer for your sales strategy.

Step 1: Empathize with Your Target Audience

 The first step in scoring leads using Design Thinking is to understand and empathize with your target audience. This means considering their needs, pain points, and motivations. Take the time to understand the buyer personas of your target audience and gather information about their needs and wants. 

This information will be crucial in defining the problem that you are trying to solve with your lead scoring system.

Step 2: Define the Problem

 Once you have a good understanding of your target audience, the next step is to define the problem that you are trying to solve with your lead scoring system. 

This will help you to focus on the most important criteria for scoring leads and ensure that your system is tailored to the needs of your target audience.

Step 3: Brainstorm Potential Solutions 

With the problem defined, it’s time to brainstorm potential solutions. Consider the different criteria that you could use to score leads, and what values you could assign to each. 

This could include factors such as engagement with your website, response to email campaigns, and content downloads. Be creative and think about what would be most relevant and valuable for your target audience.

Step 4: Create a Prototype

Based on your ideation, it’s time to create a prototype of your lead scoring system. Test it with a small group of leads and gather feedback. 

Use this feedback to refine and improve your system. For example, you may discover that certain criteria are not as effective as you thought, or that you need to adjust the values assigned to each.

Step 5: Implement and Iterate 

With your lead scoring system refined and tested, it’s time to implement it. Begin using it to score leads, and continuously iterate and improve based on the results that you see and feedback that you receive. 

Encourage your sales team to provide feedback, and regularly review and adjust the values assigned to each criterion based on their effectiveness.

Benefits of Using Design Thinking for Lead Scoring 

Using Design Thinking to score leads have several benefits. First and foremost, it ensures that your lead scoring system is more effective, by focusing on the needs and motivations of your target audience. 

By focusing on the most promising leads, your sales team will be more likely to win deals and achieve their sales goals. 

Additionally, by prioritizing the most promising leads, your sales team will be able to work more efficiently, avoiding wasting time on leads that are unlikely to convert.

Example Use Cases 

There are several examples use cases for lead scoring using Design Thinking in a B2B environment. 

For example, in a B2B SaaS environment, lead scoring can be used to prioritize leads based on their level of engagement with your website, response to email campaigns, and interest in specific features or solutions. 

In a B2B manufacturing environment, lead scoring can be used to prioritize leads based on their size, industry, and specific product or solution needs. 

In a B2B professional services environment, lead scoring can be used to prioritize leads

Conclusion

It’s important to remember that lead scoring using Design Thinking is not a one-time project, but an ongoing process. Continuously gather feedback and data on your lead scoring system and adjust based on the results. By doing so, you can continually improve your lead scoring system and stay ahead of the curve.

Additionally, consider integrating your lead scoring system with your CRM to ensure that your sales team has access to the information they need to prioritize leads and make informed decisions. By doing so, you can streamline your sales process and improve efficiency.

In conclusion, using Design Thinking to score leads in a B2B environment can be a game-changer for your sales strategy. By focusing on the needs of your target audience and taking a data-driven approach, you can prioritize your efforts, win more deals, and achieve your sales goals. 

So, why not give it a try today? 

Empathize with your target audience, define the problem, and start building a lead scoring system that predicts the most promising opportunities.