Your company works hard to secure your brand's reputation and maintain your status as a business that consumers can trust.
97% of consumers search online for reviews of your company before making a connection, so ensuring that your company has a solid online brand protection strategy in social media channels and all other online forums is essential.
According to a survey conducted by the World Economic Forum (which included 1,500 participants), three-fifths of company executives stated that corporate brand or reputation represented more than 40% of a company’s market capitalization. The survey results mean that consumer trust is the cornerstone of conducting business and ensuring long-term growth.
The problem is that as your company and your brand recognition grow, so do potential online threats.
Bad actors are prevalent worldwide, with malicious intent to deceive customers and take advantage of your legitimate brand for their purposes.
Failure to adequately capitalize on brand protection solutions can impact your brand's revenue. Unauthorized sellers and unfair competition can divert profit from your business. It can also damage a brand’s reputation, resulting in unknown costs. As such, online brand protection solutions should be an important goal for your security, customer service, and marketing teams.
With billions of channels where misinformation can spread, how can you foster brand protection online? What is an ideal brand protection strategy your company can implement, and how can you quickly identify these bad actors and online or in-person threats before they become a crisis?
It starts with understanding the fundamentals of online brand protection.
Learn More: How to Use OSINT to Safeguard Your Company’s Reputation Online
Online brand protection is safeguarding a company’s legitimate brand against bad actors who seek to profit in some way from a brand’s intellectual property (IP), including its domain names, trademarks, designs, patents, and other fundamental components of a company’s brand.
Protecting your brand against potential brand abuse involves far-reaching online brand protection solutions, ranging from anti-counterfeiting measures to investing in specialist software solutions.Brand protection strategy utilizes advanced technology to scour the entire internet — including social media accounts, online platforms, online marketplaces, and illegitimate or fake websites — to find potential brand impersonations or cases of brand abuse.
Brand protection is essential to protect your unsuspecting customers, your company’s reputation, and – in turn – your profitability. Without extensive brand protection, you risk data breaches, losing income due to counterfeit products, reputational damage on social media platforms, and other distribution channels where reviews and information flow freely.
Simply put, brand protection safeguards your customers, but it also protects your bottom line and your market share. With millions of internet users acting in bad faith, a brand protection strategy is all but required for every company to protect its authentic brand.
Counterfeiting
This involves manufacturing and selling knockoff products or counterfeit goods that may resemble your brand's products but lack quality. Counterfeiting can use multiple channels, like social media platforms, imitation sites, or e-commerce platforms, to sell these consumer goods and counterfeit products.
The result? Damage to your authentic brand through shoddy merchandise or services.
Counterfeiting can negatively impact both your company's revenue and reputation. The two primary ways to protect your brand from counterfeits are through litigation and enforcement of counterfeit listings. Initiating litigation requires a cost-benefit analysis. While courts can grant an order to stop all infringements, litigation is often costly, time-consuming, and only sometimes successful. Meanwhile, the damage done to your brand while the litigation is ongoing may be irreparable.
An alternative to litigation is to enforce the counterfeit listings. The process varies depending on the platform where the infringement occurs. Generally, social media networks and e-commerce platforms are aware of the problem and support the enforcement process.
Copyright infringement
Copyright infringement, also referred to as copyright piracy, consists of the unauthorized use, reproduction, distribution, or display of intellectual property as protected by copyright intellectual property law. On commerce sites, infringing listings are those that display the trademarks or legitimate brands without authorization. (The US Copyright Office has a long list of guidelines that outline these IP protections and topics, such as IP infringement and IP rights for established companies and their brands.)
Infringing websites and social media accounts
Bad actors often create fake websites and social media accounts to infringe the IP rights of an established brand as a form of brand abuse.
These IP infringements can take many forms that can affect a brand, which includes the following:
Bear in mind that the above list is just the tip of the iceberg when it comes to brand abuse methodology, and once a company has been the target of brand abuse, there are several potential pitfalls:
A brand protection strategy is an all-encompassing endeavor to protect your brand through multiple actions and continuous monitoring. From online brand protection to effective enforcement measures, brand protection solutions are multi-faceted and require several steps and moving parts to implement them successfully.
What does a Brand Protection Strategy Entail?
While the details of a brand protection solution are specific to every industry and company, a few broad actions are essential to any brand protection strategy.
Websites, social media, marketplaces, and search engines are all virtual platforms that require attention to ensure the integrity of your online presence:
Your company, regardless of size, needs more resources to conduct 24/7 online brand protection monitoring. Because a company's brand and public relations are inextricably linked, this endeavor often falls on your marketing and customer relations teams.
The issue with conducting online brand protection strategies in-house is that security teams can miss information. Anti-counterfeiting measures need to be far-reaching when it comes to protecting your income and reputation. Your best bet is to partner with a brand protection company to achieve maximum protection.
Brand protection companies are the best resource to fight counterfeits and other issues. Their sole purpose is to filter through limitless and ever-changing information to identify threats to your brand. Many brands and companies of all sizes outsource their brand protection solutions simply because the expertise and work involved require a specialist that can cover all of the intricate aspects of brand protection.
Brand protection tools perform a long list of continuous functions to protect your brand, and a sample of these services includes the following:
As your company grows and gains visibility in the global sphere of the internet, the need to protect your brand also grows.
Customer engagement and loyalty are imperative to maintain your business, and if your brand is subject to counterfeiting, IP infringement, or misinformation, every aspect of your operations suffers.
But when it comes to brand protection, you don’t have to go it alone.
At LifeRaft, we offer the most comprehensive tool to protect your brand in all areas. Our unified intelligence platform, Navigator, automates data points collection, and filtering and features investigative tools that explore and validate threats across the board. With Navigator, you can detect the critical information that impacts the security of your brand, assets, and operations. Whether it's your company's reputation as a whole, the manufacturing of substandard products designed to mimic your company's offerings, or even the reputation of your CEO or executive team, Navigator can help.
As of January 2023, there were 5.16 billion internet users worldwide (or 64.4% of the world’s population), which means that the potential threats to your brand are vast. By partnering with an elevated and advanced platform like Navigator, you can ensure that you have the resources to protect your company and your brand, regardless of the specific threats to your ability to conduct business.
Contact us today, and let’s start a conversation about crafting an individualized brand protection strategy to ensure your company maintains and grows its stellar reputation online in the everyday world.