MarkMonitor released findings of a new survey, which found that 90 percent of businesses surveyed have experienced up to 10 percent loss in revenue due to online counterfeits sales. MarkMonitor surveyed U.S. business executives, including representatives from some of nation’s biggest brands, to better understand the issues and challenges they face on a daily basis in today’s ever-evolving digital world.
“This survey underlines the importance that in today’s rapidly expanding digital world, with the growing incidences of brand abuse, it is more important than ever to adopt the most robust and reliable brand protection strategy,” said Mark Frost, CEO of MarkMonitor. “Businesses work incredibly hard to build their brand’s reputation and create a strong online presence. Damage to a brand’s reputation has a massive impact on long term customer loyalty and overall revenue, which is hard to recover from.”
Fraudulent websites are designed to divert online traffic from legitimate commerce and cause legitimate brands to lose revenue and customer trust, which is a big concern for brands across the globe. Roughly 83 percent of survey respondents noted that online brand abuse has the biggest impact on the overall reputation of the brand and sales of counterfeit goods. With the help of brand protection companies like MarkMonitor, brand owners and marketing departments can reclaim stolen traffic, avoid lost marketing spend and protect highly valuable brands online.
“In the digital age, customers enjoy tremendous freedom online- from shopping to banking- while brands face the serious challenge of managing complex multi-channel environments,” said Frost. “Brands need to take the necessary steps to ensure that brandjackers do not come between them and their customers. We want to help brand owners to prevent, detect and respond to online brand abuse.”