What Is The Role of Data In Brand Protection?
Brand protection is a crucial aspect of any business, and with the rise of the digital age, it has become even more challenging. Companies are facing an array of threats, such as counterfeiting, trademark infringement, and unauthorized distribution, that can damage their reputation and bottom line. In such a scenario, data plays a vital role in identifying and mitigating risks. By utilizing data, companies can gain valuable insights into their brand’s performance, detect potential threats, take proactive measures to protect their brand, and ensure the authenticity of their products.
Although numerous brand protection teams impacted by illicit trade use data to some degree, only a few have adopted a comprehensive data integration process that allows them to convert and extract insights from the data effectively.
In fact, most brand protection teams we spoke with just store investigation data in spreadsheets or a simple data repository for basic case reviews. In most cases, due to the limitation of their investigation system, investigators don’t have the flexibility or the ability to get meaningful insights, eliminating the chance to improve investigation results or follow targets across the entire investigation journey.
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Role of data in brand protection:
But the role of data playing in brand protection goes way beyond a case review. The following are use cases that can help you maximize the impact that data has on your work:
Building a holistic view of team performance and investigation efforts
When data is stored on an intelligent data hub instead of spreadsheets or a simple data repository, investigators can customize reports easily and gain valuable insights to improve their investigations. Ultimately, it helps investigators get an accurate picture of the efforts that their brand protection team invests in each month.
Providing a solid foundation to make strategic decisions
It is crucial to consolidate all information related to illegal factories, logistics, marketplaces, and other illicit activities into a single data hub. When all your information is easily accessible from one central location, you can quickly identify potential threats to your brand and take action to mitigate them. This enables you to avoid any potential issues and ensure that your brand remains protected at all times.
Optimizing brand protection awareness campaigns
Brand protection teams constantly support or spearhead campaigns to raise awareness about the detrimental effects of counterfeiting. When promoting awareness for brand protection, a data-driven approach can be incredibly powerful. By using aggregated investigation data, a brand can tell a compelling story about the harmful impact of counterfeiters and infringers. This information can be used to optimize a brand protection awareness campaign, making it more effective and impactful.
Enhancing community engagement and helping you get buy-ins from key shareholders
Industries with the necessary data for brand protection, such as those in technology and fashion, have a distinct advantage in combatting illicit trade by forming alliances and generating interest. However, for industries that lack insight into the impact of counterfeit goods, building associations and making mutual investments to combat infringers can be a struggle.
By efficiently utilizing data, brands can rally support from communities and government officials to pass laws and implement measures to reduce illicit trade. For instance, by showcasing data that highlights the adverse effects of contraband and counterfeiting on profit losses, unemployment rates, and tax evasion, brands and governments can be motivated to take action against selling counterfeit goods.
As brands continue to face new challenges in protecting their reputation, a data-driven approach is needed. By leveraging data in more meaningful ways, companies can better protect their brand and ensure that they are meeting the needs of their customers. This is where Hubstream comes in - providing data management tools for brand protection teams who want to utilize data to their advantage.
With Hubstream’s cutting-edge analytics and reporting capabilities, brand protection teams can analyse factors that impact brand reputation and develop effective strategies to safeguard their brand. Overall, Hubstream helps brand protection teams to gain a competitive edge to uphold the trust of their customers.