Why is it that a higher percentage of businesses of questionable integrity do so much better radio advertising than their more “reputable” counterparts?
Let me hasten to add, of course, that I have no reason to believe that “Cash Call” is a shady business or that its reputation is less than pure.
My research did uncover a bunch of consumer complaints about the company, but I haven’t confirmed any of those complaints and have absolutely no hard evidence to suggest that Cash Call is anything other than a fine, honest company that only enriches our society.
On the other hand, I do get a certain feeling about those guys….But it’s just a feeling. Not an allegation of fact.
Anyway, here’s their radio commercial.
The Good Parts
“Some lenders like to advertise lower than market rates because their salespeople know how to upsell you once you’re on the phone.”
That’s a solid line with which to begin a radio ad. I don’t know about you, but it made me want to hear more.
Have you ever heard a lender refer to the people who answer their phones as “salespeople”? Not “consultants” or “advisors”; salespeople. I’m pretty sure that’s a first.
And toward the end of the commercial, they refer to the people who answer Cash Call’s phones as “salespeople,” too — just “not that slick” as the competition’s.
Selling Is Educating.
This spot educates:
“By law, lenders must quote a rate and APR…”
The Weaker Parts
They gave us two pieces of interesting information:
1. Some lenders advertise low rates to lead to an upsell.
2. Some lenders quote a low rate but deliberately don’t mention the term (length of the loan).
Both are relevant and interesting. But with only 60 seconds, there wasn’t time for either bit of information to sink in with the listener.
The “omitting the term” tidbit, especially, needs more time for listeners to process. It pushed the initial interesting fact (the “upsell” tactic) out of the listener’s mind to make room for the new interesting fact.
Just as I preach to radio personalities “One thought per break,” this Cash Call radio campaign should offer a single informational tidbit per spot.
And this line gives me pause:
“If you find a lower rate somewhere else, cancel with us…”
That line is meant to reassure potential borrowers, but instead it plants the suggestion: “You might be able to get lower rates somewhere else….”
Solution? Either drop that line entirely or build an entire commercial around that guarantee.
Still, in a world of C- to D+ commercials, I’d give this one a B+.
