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Gray Market: The Rise of Luxury Goods
The luxury gray market of authentic goods is growing fast thanks to steep discounts. It’s a lucrative practice, yet original brands don’t usually take part in the game....
With the exponential growth of social media, protecting your intellectual property online has become both critical and challenging.
Here we’ll explore why and how to protect your brand on social media platforms.
Social media is about providing individuals and businesses with ways to communicate, connect, and share. Instagram stories, tweets, and Facebook posts focus on communication and content-sharing.
In business, social media platforms are used for activities like brand building, marketing, and brand promotions.
Since the beginning of social media marketing, platforms like Facebook and Instagram have been a channel for brands to reach customers and utilize content to foster connection and trust.
With 90% of the US population already spending time on social media and a total of about 4.90 billion users globally, there’s no doubt your brand should be out there.
The virtual social media space creates opportunities for businesses of all kinds and sizes – and that’s great. But equality and simplicity give malicious actors equal, easy access to your customers. In other words, social media has made it easier to exploit your brand with counterfeit goods, malicious content, account hijacking, brand impersonations, and attacks.
Due to the growth of social media shopping, also referred to as social commerce, social media is no longer only about connection, but it has become a global hangout and shopping space.
Today, brands not only build their identity, reach audiences and do marketing on social media – they sell. Retail earnings from social commerce are predicted to reach almost $80 billion by 2025 in the US alone.
As online commerce keeps growing, we see sales shift from marketplaces and e-commerce websites to social media platforms. With new features and tools, customers have come to expect to be able to shop from anywhere, blurring the lines between physical and digital, social and commercial.
The sheer size and volume of social media users and activities mean that brands find it hard to gain an understanding of the scale of social media brand abuse hurting their business.
Brands experience more fraud and increased risks due to malicious actors taking advantage of the platforms. The thing is, your brand suffers lost sales when fraudsters impersonate it or sell counterfeit goods. But the damage goes further. When customers feel they cannot trust goods to be genuine or otherwise put their trust in your brand – even due to no fault of your own – they may target their dissatisfaction towards you, the original brand.
Brand abuse on social media does not stop at brand impersonation and fakes and includes issues like hijacking hashtags and account hacking.
All online threats have the potential to damage brand revenue, profitability, reputation, customer service, and brand trust.
Brand damage raises the question of how to protect my business on social media. It’s a daunting task, but with the right tech and online partner, you can help your business.
The scale and complexity of the digital space make it hard – and absolutely necessary – to protect brands online.
Start with a well-thought online brand protection strategy that addresses your brand’s unique business needs. Look at the technology, expertise, and time required to protect your brand against counterfeits, social media impersonations, gray market goods, trademark infringements, domain name abuse, digital piracy, patent violations, and more.
Devise and apply the strategy to your brand, or benefit from the expertise and proprietary technology of online brand protection agencies like Wiser Market to help you strategize and execute protection with proven results.
This is a question that every business needs to answer. But don’t worry, we’re here to help.
You can familiarize yourself with the platform’s policies, such as Twitter Trademark Policy that may suspend the infringing account.
The more accurate your reports, the more platforms are likely to accept your takedown requests.
Social media has brought new challenges and potential risks to intellectual property rights and their protection.
Wiser Market’s technology-based solutions, tailored strategies, and innovative solutions protect brands and their customers online.
Wiser Market monitors social media and other online channels 24/7, moving to efficiently enforce your rights and eliminating threats as needed. It’s a continuous effort to protect and empower your business.
Wiser Market’s superb brand protection services, from detection through analyzing to enforcing takedown actions, result in over a 90% success rate.
Here are the 4 main categories of social media:
Social commerce is the use of social media platforms to sell products and services. It allows customers to make purchases without leaving social media apps such as Facebook, Instagram, Pinterest, or TikTok. For example, you scroll on Instagram and find skin care products you’re interested in. You can tap Shop Now, add to your shopping cart and check out without leaving the app.
Here are some ways in which brands engage social media users through social commerce:
Online brand protection ultimately has a positive effect on the brand. Thanks to effective online brand protection, you can see changes for the better, including:
Brands may be able to use trademark protection for a hashtag that includes a registered trademark or suggest a connection or association with the trademark in a way that is likely to confuse or deceive consumers as it is seen to constitute unfair competition.
Brand protection services provide intellectual property protection, from detection to enforcement of your rights on social media or any other online channels. Simply Wiser!
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