by John Darer CLU ChFC CSSC
JG Wentworth seems to be making small changes to its web site. The title header at www.jgwentworth.com at time of posting, says Structured Settlement Program at JG Wentworth instead of the utterly false "leader in structured settlements industry". However the text appears in the content of the page which is all rather silly isn't it?
JG Wentworth's website still contains a web page called "Free Structured Settlement Quote from JG Wentworth". In the spirit of my trip to London this week I'm going to tell you that this is simply "bollocks bolognaise". JG Wentworth is not licensed insurance broker and therefore cannot provide you with a structured settlement quote, free or otherwise. A structured settlement is a defined term under the United States Internal Revenue Code at IRC 5891, which governs the taxation of JG Wentworth's core business transaccation. JG Wentworth buys payment rights in deferred payment streams, often called factoring. Some have referred to this as "the secondary market". To its discredit, the use of Free Structured Settlement Quote in the title header is simply a deliberate attempt by JG Wentworth to monopolize search engine results. in deed the claim on its website is contradictory to the media release on Prime Zone of a presentation of JG Wentworth executive Michael Vaughn
Are consumers confused? Hell Yeah! Take New York blogger, Ummit Sethi for instance. In his April 10, 2006 post (you have to scroll down since Blogger has no permalinks) he thinks the Bryn Mawr bunch can actually structure your settlement. From this blog I quote "and if I get into an accident while driving not only will Geico save me hundreds of dollars but JG Wentworth will arrange my structured settlement which can be paid out over several years or as one single lump sum – get the cash I deserve, now!"
The image of JG Wentworth seems to be backfiring in relation to its competitors. On a website called "Televison without Pity Commercials" a contributor is quoted " I'm so sick of that idiot from JG Wentworth commercials always asking me "Do you need cash now?". Every time I see their commercials I'm thinking that they're running a scam". On www.yelp.com which promotes "real people, real views" a contributor , Trixie J snipes on 9/19/2006 about "JG Wentworth and other low budget productions involving bad typography and old geezer spokespeople".
According to Marketing Sherpa "once the prospect has been subjected to the 15th exposure in a week, the prospect has crossed over into "the irritant zone." By now, the advertising is creating an adverse effect, becoming annoying, and obnoxious to the viewer or listener.
15 or more exposures to a prospect during a one week period of time is considered a "danger zone." This annoyance can become so bothersome, the prospective consumer can develop a "dislike" or a "hatred" for the product or service, and the advertiser can count on not getting them as a customer – ever!"
Leave a Reply