Social media platforms have provided businesses with convenient, multiple opportunities to creatively market their products or services and connect with customers at any time. The disadvantage for many companies is being open to cyber attacks. As public spaces, social media platforms are often infiltrated by fraudsters. Brand protection needs to be part of every company’s strategy.
What are the Threats?
Brandjacking involves using copyrighted slogans, names and logos to profit from a brand’s products. Selling counterfeit goods has long been a problem, but now fraudsters can easily sell them on fake websites and through social media accounts that imitate well-known brands. Some can be convincingly sophisticated with extensive social media profiles and accounts containing brandjacked images and content. All types of products and businesses of every size are at risk.
Some fraudsters deliberately use social media platforms to damage a company’s hard-earned reputation. To limit the effects, every business needs to consider having an adequate strategy for brand protection to prevent acting impulsively in a manner that could even exacerbate the problem. A strong online presence with regular posts and a swift response to negative comments can help to minimse any harmful actions.
More than 50% of brands neglect formulating a strategy to protect their goods or reputations. One of the simplest measures is to ensure social media accounts are official, enabling customers to easily verify if a profile is genuine by the presence of a blue tick. Regularly check social media platforms to uncover any unauthorised use of company names or logos. An effective brand protection strategy ensures your company is ready to take appropriate action, such as complaining to the platform to minimise the effect of cyber threats.