Did you have any idea about this brand's activity in Spain?

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Especially in family businesses, the speed of change is another key element.

In this type of company, as in the rest, getting ahead of the competition is the crux of the matter.

Among other things, digital transformation means closing the gap between your business and customers in terms of experience and operational efficiency.

Today, 90% of data is not used in real time, but rather a posteriori, making data intelligence one of the critical areas for improvement in all businesses, including family businesses.

Identifying information about competitors, customers and the business itself thus becomes a priority in order to translate data into operational response capacity.

In the long run, for family businesses, investing in customer experience is more profitable than acquiring new customers (about 700% more, to be completely precise).

Which brings us to another piece of advice for this type of company with its own characteristics: only 37% of consumers feel connected to their preferred brands.

Either customer experience is a priority for family businesses, or they will lose the battle for digitalization.

There is no way around it, things are like that and family businesses must accept it.

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Example of a customer-focused family business
You probably don't know it, but Lidl is a family business with several interesting twists and turns in its history.

Today, it is the second largest hypermarket chain in Germany and has more than 10,000 stores worldwide.

Its global strategy is focused on the consumer, thanks to its strong presence on social networks.

Interestingly, their Spanish channel is the most active on YouTube wit email database marketing swiss h recipe ideas, a gardening school and a section dedicated to the art of coffee.



I dare say that you either didn't know her or not in all her splendor.

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3.- Profitability and value
As I mentioned at the beginning of this article, and with the help of Professor Tàpies, family businesses tend to focus on their legacy, making expansion and generational change difficult when the time comes.

The problem is that in the digital age, profitability is king and family businesses must work on opening up to new collaborators and recruiting the talent necessary to adapt to the new reality.

Because at the end of the day, every business, even family-owned ones, must be profitable and provide value to customers.

This is or must be its ultimate goal, right?

If any of these two premises are not met in the digitalization process, the plan must be redesigned to offer new business solutions.

A good digital transformation can provide growth, productivity, innovation, user recommendations and talent retention.

Something that can be different in family businesses.