Marketers hate smarts
Popularity: 12%
Have ya ever noticed some folks market to our sense of duh uh? They count on us to NOT know the facts. Their marketing approach is based on the bet we just don’t know any better, cause if we did, we wouldn’t buy what their selling. 
The Mortgage industry is good at this. I saw an ad the other day “Smart refinancing, save thousands.” Now on the surface this sounds pretty good but if ya really break it down, rarely does refinancing actually SAVE you money. It just reallocates it to the future and when your done you have most likely spent far more in fees and interest than you would have if you hadn’t refinanced.
Is it lying if you pander to your customers ignorance? In the case of the mortgage industry millions of people would probably say yes.
Keep it real with ya customers, betting against em, might work once, but I suspect ya probably won’t see em again.
Comments
Yeah, I laugh everytime I hear that Ditech commercial that says “People are smart!” refinance your loan at interest only rates for the first 10 years and load your pockets up with cash.
Comment from Jennifer on July 11, 2007, 8:52 am
Actually, refinancing can save you a ton of money. I “loaded my pockets up with cash” and bought 2 more houses and sold them both last year for a profit of $235,000.
Maybe we are all not so smart and cynical as you!
Comment from Joe Marketing on July 11, 2007, 3:18 pm
Good point here, but it’s relative.
Some people save money, some people lose money, and some people actually get rich. It’s just a matter of how smart an individual is.
Anyhow, it’s true that marketers love stupid’ish people. 
It’s easier to hook them.
Comment from Titus-Armand on July 12, 2007, 11:53 am
oh Antman,
you just crushed all the dreams I had of saving money via a refinance 
I think sometimes marketers over hype a good product to sell them. That always disappoints consumers.
Khalid
Comment from Khalid Hajsaleh on July 13, 2007, 5:07 pm
The finance companies always promise too good to be true offers. Not sure why, but it has been a traditional approach. The innovative guys that pitch value instead of savings generally do a lot better.
-4MySales
Comment from 4MySales on July 26, 2007, 3:05 pm
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