Hamish Cargill presents 'Unsexy Sells - Why Terms and Conditions are the New Brand Battlefront'

UNSEXY
SELLS
11 August 2022
Why terms and conditions
are the new brand battlefront

2 XXVI / Mumbrella Finance Presentation
TERMS OF ATTENDANCE
1. By attending this session you agree to enjoy this session and
engage fully with the content and the speaker (Hamish Cargill,
hereafter referred to as the speaker) for the duration (minimum 30
minutes) or for any amount of time the speaker or event organiser
deem necessary to convey the relevant information. This
timeframe is not a guarantee and may be shortened or extended
due to: human factors including but not limited to increased heart
rate, shortness of breath, loss of memory, audience interruptions,
protests, unintelligible questions; technological or mechanical
breakdown of software or hardware including in the event of loss
of electricity; natural disasters; COVID-19.
2. Neither the speaker nor Diversified Communications (trading as
Mumbrella Events) warrant against the veracity of this content and
take no responsibility for its use by a third party.
3. No guarantee is made as to the insights, opinions or arguments
made during this session and their relationship to your specific
areas
of interests or reasons for attending. The conclusions offered are
not researched and no claims will be entered into regarding
veracity
of reasoning.
4. Any photographs taken of this content during the session must be
for personal use only and may not be distributed or conveyed
without written approval of the copyright owner. The speaker
retains full rights to the use of their image and mandated use of a
noir filter for any online publication.
5. You may be photographed or filmed during this session at what
may or may not be your preferred angle. No opportunity is offered
to edit, filter or select images or video based on personal
preferences.
6. Any questions will be answered in good faith and to the best of the
speaker’s knowledge. Questions will not be taken on notice and at
the conclusion of the session further discussion will not be entered
into.
7. Any gratuities or payments extended to the speaker in cash form
as a result of attendance at this session is non-tax deductible and
will not be receipted.
8. None of these conditions are binding or valid and are not legal in
nature and are intended only to demonstrate a point that no one
reads terms and conditions and assumes that what they contain
is either framed in their interests or of no relevance or value to
them personally.
9. By raising your hand you agree to these conditions in perpetuity.
LET’S AGREE ON A FEW THINGS

WHY ARE WE TALKING
ABOUT TERMS AND
CONDITIONS?

*To differentiate finance brands and products
IT AIN’T EASY*

• Interest rates are the same.
• Fees and charges are the same.
• Customer service is (mostly) the same.
WHEN ALL ELSE IS EQUAL,
WHAT’S LEFT TO COMPETE ON?
Why not focus on the worst
part of the experience?

WHAT YOUR BRAND
SAYS ABOUT YOU

WHAT YOUR BRAND
SAYS ABOUT YOU
WHAT YOUR TERMS
AND CONDITIONS SAY
ABOUT YOU

A WINDOW TO THE WORST
PARTS OF YOUR BRAND
2.1 (b) By placing an Order with a Retailer and using our Products,
you provide us with unconditional and irrevocable consent and
direction to pay (or procure an Afterpay Affiliate to pay) the Retailer
on your behalf in exchange for your agreement and obligation to
repay or pay to us, as principal debtor, in accordance with this
Agreement the agreed amounts (which may include any applicable
taxes, duties or other related amounts charged by the Retailer) and
on the dates outlined in your Payment Schedule, plus any additional
applicable Fees, including Late Fees if you miss a repayment to us
on or before the scheduled date, as set out in Schedule 1.

YOU DON'T GET THE
PLUMBER TO DESIGN
THE KITCHEN

YOUR T&CS DAY ON A PLATE (THE MORNING, AT LEAST)
6:30am: Wake up, pick up iPhone and open News: Apple Media Services Terms and Conditions
6:34am: Check Instagram: Instagram Terms of Use
6:39am: Scroll TikTok: Tiktok Terms of Service, Platform Cookies Policy, Privacy Policy
6:51: Make yourself a Nespresso: Nespresso Terms of Use, Conditions of Sales, Warranty and Consumer Law, Subscription Terms and Conditions
7:15: Drive to train station: Linkt Terms and Conditions
7:47: Tap on at station with Opal Card: Opal Terms of Use
7:49: Listen to Spotify ‘I’m going to own the day’ playlist: Spotify Terms of Use
8:10: Jump in Uber: Uber B.V. – Terms and Conditions
8:29: Buy coffee: Apple Pay with NAB terms and conditions, NAB Credit Card Terms and Conditions
8:33: Arrive at Mumbrella Finance Marketing Summit: Mumbrella (Diversified Communications) Event Terms and Conditions
TERMS AND CONDITIONS
ARE EVERYWHERE

ISN’T IT IRONIC?

• 19 chapters
• 16 A4 pages (size 12 font)
• 6,837 words
WE DON’T
READ THEM
FOR A REASON

FINANCIAL SERVICES INSTITUTIONS MUST:
• Always put their customers first
• Fulfil any promises made to their customers
• Ensure all consumers are treated fairly
• Ensure that they do not take advantage of vulnerable consumers
• Put in place the correct and legal compliance processes to monitor their activities, and
• Maintain the appropriate governance, oversight, and systems over those compliance
processes.
ASIC’S RULES OF ENGAGEMENT

*Office of the Australian Information Commissioner
Don’t treat the privacy policy as a legal document to manage legal risk. It should be
a document that creates trust in your entity and speaks to your customers or clients
Focus on what is important to the reader. Do not try to cover everything in minute detail
Keep it simple. Use simple language and test readability in content and format against
external standards such as the Flesch-Kincaid grade level[7]
Take a layered approach. For example, for online publication provide a condensed
(summary version) of key matters in the privacy policy, with a link to the full policy.
OAIC* GUIDANCE FOR PRIVACY POLICIES

MAKE THE CHANGE. AND SELL IT.

A PICTURE TELLS 10,000 WORDS

“[The agency’s] job was to develop a
communications approach that engaged
customers with this topic – using visual
contracts as a way to bring the Bank Less
promise to life – behaving less like a bank
by creating hassle-free, transparent and
customer focused.”
Bankwest chief customer officer, Paul Vivian
“Through a tool like comic imagery, we
can make contracts what they were meant
to be: accessible and clear frameworks
for contractual collaboration – working
together, with shared understanding,
and no hidden fine print.”
UWA law professor Camilla Andersen
BANKWEST KNOWS BEST

FINANCE BRANDS
SPEND A FORTUNE
ATTRACTING
CUSTOMERS

THEN FAIL THE
TRUSTWORTHY
TEST

consumers surveyed around the world
Meaningful Brand, Havas’ 2021 Report
OF 395,000
ONLY 47%
of brands were seen as trustworthy

hbr.org/2019/07/the-trust-crisis
“TRUST IS THE ENABLER
OF GLOBAL BUSINESS.
WITHOUT IT, MOST
TRANSACTIONS WOULD
BE IMPOSSIBLE.”

https://www.sas.com/en/whitepapers/futurum-experience-2030-110966.html
48%
OF BRANDS AGREE
ON THE VALUE OF A
PROACTIVE DATA
PRIVACY POLICY
73%
PERCENT OF CONSUMERS
ARE CONCERNED WITH HOW
BRANDS USE THEIR DATA –
AND BELIEVE THE USE OF
THEIR PERSONAL DATA IS ”
OUT OF CONTROL.".

WE RESEARCHED
THIS FOR THE
INSURANCE SECTOR
Conducting a four-day online community with 44 consumers.

SUSPICIOUS MINDS.
CONSUMERS FEAR
‘FINE PRINT’.
If they were transparent I would know
that I don't always have to check the fine
print to see if there are loopholes for
them to avoid paying up.
I hate reading fine print, but
I force myself to do so because
I don't like the "hidden catches"
As insurance companies are notorious for
hiding important distinctions in their fine print
and rejecting claims – I would love an
insurance company that enlarges its fine print.

TRANSPARENCY AND
HONESTY ARE THE SECTOR’S
LEADING CURRENCY.
”Transparency is really important because if
what you see is what you get, you have peace
of mind.”

PROVIDE CLARITY AND
REASSURANCE ACROSS
ALL BRAND TOUCH POINTS.
“I always prefer simple, clear email communication.
Just the things I need to know, presented well.
Not too much clutter or too many emails. I want to
read it and feel informed and in control.”

THE IDEAL INSURANCE BRAND
PERSONALITY IS STABLE,
STRAIGHT-UP AND HONEST
Hugh Jackman is the personality
who best fits a brand who would
do this. I think he is trustworthy,
clear to understand, and not over
the top. He doesn’t seem like he
has anything to hide.
J K Rowling. I chose her is to
represent trust. This celebrity
could be represented or
anyone really that has those
qualities that people could
look at and instantly think of
trust and confidence.
I trust Jacinda Ardern.
She seems very open
and honest and speaks
her mind and looks
after everyone, not just
herself.
To me, Dwayne
Johnson, the "Rock”
signifies the
Insurance industry
because he is the rock
that is there to do the
right thing by people.

BUILDING RELATIONSHIPS
IS ABOUT BUILDING TRUST
THROUGH TRANSPARENCY
AND INTEGRITY. CONSUMERS
NEED REASSURANCE.

DESIGN
FOR TRUST
& FINANCIAL
LITERACY
Transforming the
credit card experience

“I UNDERSTAND
MY TERMS &
CONDITIONS
MAY BE THE
BIGGEST LIE
IN BUSINESS
TODAY…

THE CHALLENGE:
NAB CREDIT CARD
TERMS & CONDITIONS
HAD BECOME SO
COMPLEX THAT THEY
WERE THE CAUSE OF
70% OF CUSTOMER
COMPLAINTS.

“IT MEANS
NOTHING.”
NAB KABOOM | TERMS & CONDITIONS CAUSED ACTIVE RESENTMENT
WE STARTED WITH
67 PAGES IN
3 BOOKLETS
32 CLAUSES,
61 CROSS-
REFERENCES
“I CAN’T READ THAT.
...IT’S AN EPIC FAIL”
“IT’S TO PROTECT
THE BANK, NOT ME…”

T&Cs: Before
(legal jargon – for benefit of bank)
Calculation of interest charges on cash
advances and on some other amounts
For the purpose of 10, any reference to
‘the date assigned to the cash advance’
means either: (a) the date on which the
cash advance was made; or (b) the
opening date shown on the statement of
account on which the cash advance was
itemised, whichever is the later.
T&Cs: After
(simple and helpful for the benefit
of the consumer)
Reduce your outstanding balance for cash
advances
A cash advance doesn’t have any interest-free
periods as they’re not considered a purchase.
This means interest starts to be calculated
from the end of the day on which you make the
cash advance.
As the interest rate for cash advances is
higher than for purchase transactions, it’s
a good idea to pay the outstanding balance
of the cash advance as soon as possible.
BUILDING TRUST WITH COPY

“THE LANGUAGE
HERE WAS
BRILLIANT…”

WHAT OUR CUSTOMERS
ARE SAYING NOW:

>300,000
CUSTOMERS
SERVED
86 TONS
OF PAPER
SAVED
$1.2M
SAVINGS
YEAR 1
>80%
CUSTOMERS
OPENED LINK TO DIGITAL T&C’S
SURPRISINGLY SEXY STORIES

• Customers have low expectations
• They will engage with best practice terms and conditions
• Delivering in this area demonstrates transparency and integrity
• This engagement builds a stronger relationship and earns trust
• Trust is sexy
MAKE THE MOST OF YOUR
TERMS AND CONDITIONS

• Ownership: Terms and conditions shouldn’t be left only in the hands of legal
• Engagement: If you haven’t read your own terms and conditions in the past
3-months, you’re part of the problem
• Evolution: Take an active interest to make them a pillar of your customer
experience
• Communication: Don’t be shy about selling this change.
IT’S TIME TO PAY ATTENTION

THANK
YOU

Hamish Cargill presents 'Unsexy Sells - Why Terms and Conditions are the New Brand Battlefront'

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