Many products are being sold in today’s world, but unfortunately, most are counterfeit. It is a major global issue with almost every brand, especially in the industrial sector. The sales of these counterfeit are higher than those of the original products because the fraudsters are selling them at lower prices.
Due to this criminal enterprise, industrial firms have advanced in getting the solution to curb this through technology for their brand protection and customers. Engaging in fraud through anti-counterfeit technology will be challenging, thus protecting the brands’ image.
One of the solutions that have come out is brand protection software which protects the products against infringements. Below are some reasons why one needs this software:
Brand Safeguarding
There are four steps used to safeguard the brand and easily avoid the illegal activities:
• Detection. It involves searching for fraudsters physically or online and using the software to get them to sell counterfeit products under your brand’s name.
• Validation. Once you have suspected infringement of the brand, make sure you validate that it’s true so that it does not ruin the reputation of a legitimate individual or company and harms your brand.
• Enforcement. When infringement is confirmed, measures will be taken by brand protection services by closing down those factories involved and further removing their products from the ecommerce stores.
• Report. Brand protection solutions will give you an analysis report to help you know where your brand is more vulnerable and can be easily infringed and how to improve in the future.
Business Protection
It’s advisable that when running a business, one should consider using brand protection to avoid causing harm and massive loss of revenue through the black market. And also, to protect your clients, here are some of the reasons why you need brand protection for your business:
Falling of Sales
When the fraudsters find an opportunity and can replicate your products, the consumers will turn to them due to lower prices, and this will result in your business having fewer customers; hence your sales will go down.
Damaging Your Reputation
When buyers get goods that don’t reach their expectations, especially when they are unaware that the products are counterfeit, it ruins your reputation, and they may decide to look elsewhere for more genuine brands.
Destroys Relationship with Partners
Creating a partnership and a strong relationship in business usually takes time but can be destroyed within a short time with the counterfeits, especially when they start selling the products at a lower price than the official price. When this happens, the partners will start blaming your brand.
Blames from Customers
When you have clients who continually buy your brand, it is essential to note that at one time, they will end up buying some the counterfeit products, and when they realize what happened, they will shift the blame on you and put in their minds that you should have done something to protect them.
Brand protection is of utmost importance and should be considered with available avenues. The few mentioned tips will help protect your brand and your overall reputation, seeing you retain your customers.