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Striking the right balance between hitting revenue targets and maintaining a positive brand image is key to sustainable business success. Here are strategies to achieve that balance:
- Align marketing efforts with core values to ensure campaigns boost sales without compromising brand integrity.
- Introduce premium offerings that match your brand's image to attract high-value customers.
- Regularly engage with customers for feedback, using insights to fine-tune both revenue strategies and branding efforts.
How do you maintain the equilibrium between financial goals and your brand's reputation? Share your strategies.
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Brands are built over ages, brick by brick, layer by layer, and with much care and love. Focussing on revenue targets at the expense of long-term brand health does not make a balancing act. Assuming your target customers will not notice when you mess up with the underlying offering (the product, service. experience, or status) is only a pipe dream. History is replete with once-storied brands turning fallen angels because they prioritized financial over brand health metrics. Financial goals are critical but need to be tempered with a long-term vision. Otherwise, you could end up killing the brand.
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First: the secret is in the PRODUCT. The product TRUTH is everything. Put your money in product quality, improve constantly your product performance Vs competition. When others will fight for additional promotion slots you will keep your customers because they LOVE the product. But as the French say: there is no love, there are only proofs of love. Give your customers those proofs with clear points of superiority of your product.
Second: everything you do is at the service of the BRAND. The type of promotion you do must always serve the brand. Deep Price Deals are the solutions chosen by weak marketeers without imagination… Like drugs you are stuck with them!
Act according to those 2 point and the dilemma price/brand equity disappears.
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Balancing financial results with brand health can feel like enjoying junk food without the guilt—counterintuitive and challenging.
To succeed, think creatively within your brand’s boundaries. There are untapped opportunities in specific customer segments, special occasions, or niche channels that can drive value without compromising your brand.
High-value customers are a hidden gem—cater to them for substantial returns. Additionally, create demand by identifying new occasions or innovative ways to meet existing needs. Expanding inbound marketing across more markets and segments can enhance brand visibility and revenue.
Overall a combination of creativity and strategic thinking is required in these cases
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It is important to strike a balance between revenue and brand image -
- Prioritize sustainable revenue streams over short-term gains
- Invest in quality products/services that align with brand values
- Maintain transparency, consistency, and authenticity in brand messaging
- Focus on long-term growth and customer loyalty
- Ensure marketing efforts resonate with your target audience
- Monitor customer feedback and adjust strategies to protect brand reputation
- Align business goals with brand values and mission
- Balance profit margins with customer needs and expectations
- Foster a positive brand image that supports revenue objectives
- finally do not take shortcuts!
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Sustenance and long-term revenue growth depends on a strong and positive brand image. Both revenue targets and brand image should go hand-in-hand. If I am forced to make a choice between the two, i will prioritize brand image. A constricted flow of revenues might pinch in the short-run but I will never compromise on brand building as it must be seen as an investment for future revenues.