Competition among brands selling online is fierce. As e-commerce sales increase each passing year, you as a brand marketer are hard at work to build relationships with consumers, strengthen your brand's visibility, and increase your bottom line.
You must do all that while you defend against online counterfeiting, domain squatters, typo squatters, hackers, phishers, and other cyber-criminals trying to divert your brand's traffic and damage the brand you've spent so much time and money in building.
Worst of all, cyber-criminals steal from your bottom line.
Before you look for a brand-protection tool, you should ask yourself the following questions to figure out the ROI your brand will realize from implementing such a tool.
1. How much money are you losing to digital brand infringement and counterfeit goods?
The cost of intellectual property theft in the US alone runs in the range of $300 billion dollars, according to the FBI. Over half of that amount is due to the proliferation and sale of counterfeit goods. Now, the release of over 1,400 new gTLDs (generic Top-Level Domains) will contribute greatly to trademark infringement and will make it nearly impossible to protect against manually.
Do an assessment. Come to a roundabout figure of how much your brand could be losing due to cyber-criminals infringing upon your brand name and sending consumers to counterfeit websites.
2. Do you understand how to identify and prioritize all the digital risks to your brand?