4 Smart Steps to Reducing Counterfeit Sales Online
The counterfeit goods trade has been consistently growing for the past few years, especially online, and counterfeiters are continually developing new ways to prey on brands through e-commerce platforms and social media. Unfortunately, fraudsters are becoming so proficient that consumers are unable to identify counterfeit sales online and are purchasing inauthentic goods unknowingly. It is therefore all the more important for companies to take serious measures to protect themselves.
There are several steps that businesses can take in order to protect their brand and here are four to make that start.
1. Register your Trademark
One of the first and most important steps you should take is to register your trademark. If you should encounter someone profiting illegally from your brands or products and choose to take action, then this will greatly increase your chances of succeeding. Register your trademarks in all regions or countries in which you operate and do not forget to register your brands with customs agencies as well, as some countries operate intellectual property (IP) protection programs that you can benefit from.
2. Monitor your Business
Once you have registered your trademarks be sure to monitor the market and take immediate action should you spot inconsistencies and or irregularities. It may suffice to send a cease-and-desist letter, however in some cases you may need to contact authorities.
3. Use Technology to Protect Yourself
The third step is resorting to artificial intelligence (ai) and technological solutions, an industry that is evolving rapidly and in which many companies have found the answer to their brand protection woes. From counterfeit spotting apps to high-tech ways of marking your products, the possibilities are endless and there are plenty of options for companies with a smaller budget, too.
4. Spread the Word
While some consumers knowingly purchase knock-offs, many are simply being deceived by very intelligent counterfeiters. Therefore, it is vital that you help your clients to recognise inauthentic goods and other signs that something is not right. Increased knowledge and awareness can go a long way to protecting your brand.