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BizReport : Email Marketing : June 27, 2016

Report outlines the impact on brands of email fraud

Companies that fail to proactively secure their email channel risk losing brand loyalty and marketing-generated revenue, according to a new report released by Return Path.

by Helen Leggatt

Return Path's report, 'Phishing: The Cost of Doing Nothing for Marketers', outlines the stark realities of the costs and lack of trust that eventuate from phishing attacks. The impact of email fraud goes beyond the immediate impact to a brand's reputation, it also affects the bottom line.

According to Return Path, the average large company (one having 10,000 or more employees) spends, on average, $3.7 million a year to recover from phishing attacks. Perhaps just as damaging, their email subscribers are less likely to trust a brand via which they have experienced a phishing attack and mailbox providers are more likely to flag a brand's legitimate email as spam.

Most (81%) marketers are concerned about email fraud. However, a significant number of marketers (76%) admit they have little to no visibility into email-based attacks on their brand. Just as troubling, only 32% of marketers plan to make email security a top priority in 2016.

"Email security is everyone's responsibility," said Estelle Derouet, VP of marketing at Return Path's Email Fraud Protection product. "As guardians of the brand and owners of the email channel, it's time for marketers to join the fight against email fraud - and for CMOs to prioritize customer security."

Tags: brand marketing, email marketing, fraud, loyalty, phishing

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