When we talk about a family brand, the thoughts that come to mind are usually positive, if not outright exceptional, except in cases where the brand is linked to unethical practices. This is because, first and foremost, a family brand has a name and surname, meaning it has a clear owner who does not hide behind an impersonal corporate brand that may have been crafted by an award-winning advertising agency. A family brand carries the full responsibility of its owner across all aspects of professional, social, and personal life. It embodies the values and behaviors that the owner and their family uphold and practice daily, thus communicating directly and indirectly with all audiences. Consequently, a relationship is built—structured or unstructured—with customers. For a family brand to be successful, it must be founded on quality, reliability, consistency, trust, ethics, and a strong human touch. These values have always been, and will become even more essential in the future, as technology and its tools strip away personality and human character in the name of efficiency, productivity, speed and creativity.
Nowadays, customer interaction with the actual person behind a business is steadily decreasing. Technology enables quick and repetitive solutions and responses. However, it lacks the magic of human connection and relationships. Futurists predict that human interaction will be increasingly replaced by AI, robots and chatbots. This shift is already happening and is expected to intensify.
Family businesses with strong brands will resist this trend by following the formula that has ensured their timeless success. Direct human relationships with its customers. Will they succeed? The answer lies with the heirs and successors of each family business. Their ability to carry forward a long-standing legacy of victories and invaluable lessons will determine the outcome. Whether they prove to be worthy successors depends on both their parents and them. What will make the difference is the way they were raised. If, from birth, they were brought up with the same value, responsibility, resilience, dynamism, lifelong learning, hard work, and ethics, then the groundwork for the continuation of success has been properly laid. However, it will be up to them to decide their future path. Will they build upon and invest in the values and countless benefits of the family brand, or will they embrace the allure of global marketing trends that promote imaginative yet impersonal brands?
The two are not mutually exclusive. They can coexist and thrive, as long as the development of the family brand—both now and in the future—is developed by modern brand architecture, experienced reputation management analysis, genuine differentiation, and a well-rounded, strategic approach safeguarding family brand’s values. Additionally, designing and executing must consider the need to navigate successfully multiple and simultaneous crises, which have become a new reality in business and beyond.
The future belongs undoubtedly to technology, artificial intelligence, and the authenticity of the people who lead. In this future, family brands have a distinct advantage because authenticity is embedded in their DNA. And let’s not forget that businesses exist for their customers. It is the customers who decide and choose their suppliers. And they, too, are human.
Published on ENERGISING GREECE