Cyber threats driving changes in brand protection strategy: MarkMonitor

More than 80% of companies will change their brand protection strategies over the next year to cover new cybersecurity and fraud threats.

In its latest report, “The Future of Online Brand Protection”, MarkMonitor claimed that 72% of the 600 marketing decision-makers surveyed believe that brand protection is gaining attention across their organisation as a result of online threats. 

In 2017, only 64% of the companies surveyed had an online brand protection strategy in place. This year, 79% had one in place, with the need to keep customers safe being a primary business objective for 46%. 

“This speaks to the relevance of new, consumer-focused approaches which target criminal activity where the consumer is most exposed to threats,” said the report. 

Nearly two thirds (64%) of respondents believe that infringement has increased over the last year. 

Companies increasingly believe that activity on the dark web poses a threat to business, with more than half of respondents claiming this. A further 61% said they were actively monitoring dark web intelligence for threats and brand-related activity.

Over half of respondents identified the dark web dangers as a risk to business, and 69% said that cyber threats influence their domain name strategies.

To combat this, 46% of companies are incorporating artificial intelligence into their strategy. This is closely followed by big data, machine learning and dark web monitoring. 

“Almost a quarter of respondents said they would spend most of their budget on new technology, and 85% of brands have incorporated new technologies into protection efforts,” added the report. 

Brand protection company MarkMonitor commissioned independent research firm Vitreous World to survey the 600 respondents, who represent a cross section of industries across the UK, the US, Germany, France and Italy. 

Chrissie Jamieson, vice president of marketing at MarkMonitor, said: “The fact remains that brand protection is gaining more attention within organisations because the threats to reputation, customers and the bottom line are increasing at pace, and this is being recognised at the highest levels.”