Shad of the Day, 24th February 2023. It seems every day there’s a new leadgen page that pops up on Facebook. It’s the same unethical, non-compliant, and illegal baiting BS that has to end. It’s the same stupid form that serves no purpose other than allow leadgen crooks to assign a higher price to what the form ‘resolves’ to be
We’re seeing a lot businesses crucified for their baiting and/or unethical marketing. Wondering how long it’ll be before the finance industry is on the chopping block (it’ll be brutal).
Our BSB Numbers website is ridiculously simple. However, it’s referenced by thousands every day, and last year it returned 684-million of mortgage volume to participating clients (that we know about) – a massive result. It’s one of a dozen or so ‘Satellite’ websites we’ve used for years, and a good example of how brokers can improve their broader digital footprint.
Shad of the Day, 6th February 2023. We looked at this experience in the past, although a former client of theirs had a customer make a formal complaint, so it’s worth revisiting. Created by a mob called ‘MakesCents’ (EMBR Group), the subscription funnel breaks a few big-ticket laws that will land your in a world of hurt. Of course, it’s
Shad of the Day, 2nd February 2023. This ad comes to us by way of a fake brokerage run by a low-preforming group by the name of Rowdy Digital. Limited panels shown, but enough info is presented to indicate I wouldn’t qualify for a Blockbuster card (assuming the ‘quiz’ was served for a purpose other than charging more for leads).
Advertising compliance isn’t hard. Here’s another advert that wouldn’t withstand the legal scrutiny of ASIC is they actually had the resources do scrutinise it. RG 234.47 The more that a qualification is required to balance the information contained in the headline claim, the more prominently placed the qualification should be. The headline claim must not itself be misleading. RG 234.51
Shad of the Day, 31st January 2023. When you advertise 3.5% and 5k cashback, you had better provide qualification details. A recap on some very basic principles (virtually all text sourced from ASIC). RG178.23 “An advertised comparison rate must be identified as a comparison rate and the comparison rate must not be less prominent in an advertisement than any interest
Shad of the Day, 30th January 2023. The scale and scope of Compare-1’s illegal practices’ is staggering. Because of the multiple breaches, we’ve selected just a few. Violations should be obvious. Almost without excepting, you cannot purport to provide a financial service as a leadgen company. Despite claims that this mob is “regulated by the ASIC”, they are operating illegally.
Shad of the Day, 29th January 2023. Our efforts to name and shame are usually directed at leadgen companies, and we generally don’t like calling out individual brokers. We understand that it’s bad representation introducing compliance issues into your business. In this case, however, it presents an opportunity to make a few points. Not unlike Joust’s blatantly illegal use of
Shad of the Day, 28th January 2023. We expect more from Joust. As a company that sponsors traditional media for airtime, and thus attracting attention, one would think they would invest more effort into satisfying their most basic compliance obligations. When you create an advert with rates, you’re compelled to provide qualification and disclaimers as part of the advert. Accessing
Another Shad of the Day, 27th January 2023. We couldn’t wait until tomorrow to share this abomination. Minimum $4000 cashback on a loan size of minimum 250k. I’d encourage all brokers to submit their details (for a callback) so they’re aware of the nonsense taking place. Disclaimer: This ad is brought to you by unicorns and leprechauns.
Shad of the Day, 27th January 2023. Mortgage House is a great company, and any infraction we see is generally an oversight. In this case, we suspect a marketing intern let one slip. It’s expected that brokers know their legislation, but for those looking for a cheat sheet, ASIC’s Regulatory Guide 234 gives your reason to know the law… and
