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Digital Risk Protection
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Last week I was joined by Brett Millar, Director of Global Brand Protection for Fitbit, for a webinar on “Protecting Brands from Digital Risks and the Dark Web”. It was great to hear how Brett works with different business functions to address different risks to the Fitbit brand. Most of all, I loved hearing about the different ways in which Brand Managers can demonstrate a return on investment (ROI).
For organizations looking to safeguard their brands online, there are lots of online sources where this occurs. Within the webinar I spoke about the threats to brands that exist on the dark web -specifically on account takeover and counterfeit goods. Dark web marketplaces, such as Dream Market shown below, have whole sections dedicated the sale of counterfeit goods. Of course, there is a lot more to brand protection than dark web activity. Organizations need to be monitoring a wide range of sources to adequately protect their brands online. (Check out a blog from our CMO, Dan Lowden, on some specific instances of brand exposure that we’ve seen involving spoof domains, fake mobile applications, and fake social media profiles.)
Figure 1: A dedicated counterfeit category on the Dream Market, with over 2,800 goods for sale
ROI (Return on Investment) is common term in security, but effectively demonstrating it is difficult. One reason for this is that ROI is a calculation usually expressed numerically or as a percentage. The impact of your security investment, however, does not always lend itself to quantifiable metrics. It is always trickier trying to show how events that have not happened, like cyber attacks that have been averted, impact a company’s net earnings or bottom line.
The concept of ROI is just as critical for brand protection; Brand Managers need to be able to show they are impacting the bottom line. The good news is that the result of your brand protection strategy is measurable, and there are three main ways to do just that.
These metrics can be supplemented with other metrics, such as tracking the number of:
With so many areas of security to focus on, demonstrating a return on investment is a constant challenge. However, the intersection of brand management and security offers a real opportunity to demonstrate the economic value of protecting your brand online.
Watch the webinar on “Protecting Brands from Digital Risks and the Dark Web” to find out more about other types of brand exposure and ways organizations can manage this risk.