Wednesday, January 21, 2009

Simple language = better interest

Fully 84% of all consumers say they are more likely to trust a company
that uses jargon-free, plain English in communications. And 79% say
they think it is “very important” that President Obama “mandate that
clarity, transparency, and plain English be a requirement of every new
law, regulation and policy.”

Three-quarters of survey respondents (75%) say that complexity and lack
of understanding have played a significant role in the current
financial crisis. Moreover, 63% of those surveyed feel that “banks,
mortgage lenders and Wall Street intentionally make things complicated
to hide risks or to keep people in the dark.”

The survey asked how much of an impact jargon-free, plain-English
explanations and disclosures would make on consumer interest in a
number of categories. Consumers reported:

a 79% increased interest in investing in a financial product,
a 73% increased interest in selecting a broker or a financial advisor,
a 67% increased interest in purchasing a life insurance policy,
a 63% increased interest in taking out a loan, and
a 63% increased interest in applying for a credit card.

No surprise here, the simpler the message, the more easily understood, the more easily remembered.

Thanks to Lee Lefever at Common Craft for the pointer on this.