What Makes a Brand Resilient?
With endless destinations in today’s vast digital landscape, fraud is proliferating. This reality requires brands to go beyond defense tactics and practice extra diligence in protecting their intellectual property.
There are many implications of intellectual property fraud. If your brand is experiencing trademark abuse, the consequences range from losing potential profits to tarnished brand image. For some industries, such as pharmaceuticals and automotive, there are potentially life-threatening repercussions, e.g., from counterfeit medicine or bogus brake pads.
So, how does a brand go from being stuck on defense to playing a strategic offensive game? Here are the characteristics of the most resilient and protected brands.
They set goals and prioritize.
In the face of a huge problem, knowing what result you are seeking can be the first and most crucial step to solving it. Successful teams focus on the elements of brand abuse that cause the most harm to their business, and focus on those areas.
They have a strategy.
As in athletics or battle, having a defined strategy increases the chance of winning. Brands that think about their plan for dismantling different schemes make the most impact on brand abuse.
They work together.
The best brand protection teams rally their extended organizations to fight abuse. They look creatively at their resources, outside counsel and coworkers, rallying them to defend what is most important to their business.
They also have set expectations of their vendors and employ formalized technical workflows to ensure the team executes as planned.
They proactively and efficiently uncover new and emerging digital threats.
As our digital reliance grows exponentially, there have been radical changes in how we do business. Bad actors exploit those changes to abuse brands in new ways, relying on new technologies and creating abusive schemes in unprecedented volumes.
Solid brand protection teams leverage modern brand protection technology to detect, and quickly recover from, abuse.
They regroup and reset.
The brands that do the best job protecting their customers, revenue and reputation continually refine their tactics. They communicate successes and failures to their extended teams and constantly reevaluate their methodology and workflows until they achieve their desired results.
To learn more about brand abuse and how to become a more resilient brand, download our white paper: Defending Brands—New Realities, New Partnerships.