For any business or brand operating online, it is imperative that they know the importance of protecting themselves in this fast-moving digital realm. If a fraudster successfully fools shoppers into buying fake goods through hoax social media accounts or phishing emails, the impact it can have on both your brand’s reputation and its finances can be significant.
It’s one thing knowing all of this, but it is quite another to properly enforce online brand protection. A TechValidate survey carried out by ourselves late last year found that 96% of all brands surveyed cited effective enforcement as a critical challenge in protecting their brand online.
To us, this indicates a knowledge gap that exists between knowing why brand protection is so important and how to make sure brands are properly protected. It’s understandable: ensuring comprehensive protection can be a mammoth task depending on the size and scale of your company, and it requires constant monitoring and supervision once the correct measures are in place.
But the research also found that, by working closely with a trusted external partner, these issues can quite easily be solved. In fact, 88 per cent of the organisations surveyed said they had seen notable improvements in the enforcement of their online brand protection measures since using MarkMonitor.
More specifically, we asked each respondent about what kinds of improvements they had seen since working with MarkMonitor, and the results were revealing. 67 per cent of those surveyed said they had seen an increase in marketplace shutdowns — i.e. fraudsters being caught selling fake goods via online marketplace and auction sites — since employing a MarkMonitor solution, while 62 per cent reclaimed more traffic to their websites and 60 per cent realised a notable improvement in the removal of counterfeit results from search engines.
What these findings ultimately show is that, although enforcing brand protection measures can be tough, the process can be much easier and smoother with the help of a partner that has the knowledge and experience necessary to build an effective strategy. Counterfeiters, infringers and fraudsters can strike at any moment, and it is the responsibility of brands themselves to make sure they make the right decisions.
To see the full set of results from our survey, please visit the TechValidate website: https://www.techvalidate.com/product-research/brand-protection/