Last week I wrote about a deceptive marketing ploy that is very common in the investment advice industry. It involved the use of trickery to make a track record look better than it actually is. The trick is to simply close down a service that is performing poorly and replace it with a shiny new one that has no record yet. In an instant the overall track record for the publisher of the service improves, because all of the bad data is wiped from the historical record.
Today I want to talk about another deceptive marketing practice. This one involves preying on the gullibility of investors by offering access to an “exclusive” service that contains only the best of the best – best stock ideas, best strategies, best gurus, or whatever the company is selling. Here’s a marketing message I received from one of these services, after I allowed my premium subscription to lapse.
“Dear Former Premium Member,
When you didn’t renew your membership, it got me to thinking. Maybe there’s a better way to serve your particular needs.
Rather than getting all the recommendations from all 15 of our portfolios at the same time, what if you focused on only the timeliest picks from the hottest single service each week?
Today, I invite you to try this Super-Deluxe Stock Picking program for 30 days absolutely free. Here’s how it differs from the program you recently dumped:
Fewer, More Selective Picks. Super-Deluxe culls our recommendations down to only two per week, while the old service gives you all of them. Much easier for making personal investment decisions.
Only the Best of the Best. Because I’m in charge of all the trading and investment services, I know which of our experts has the hottest hand, and when he or she is ready to trigger an especially compelling trade. Each week, I’ll bring you the most timely recommendations and market insights from that expert.
Lowest Cost of Any Of Our Services. First month for you is free. Afterward, it’s only $5 a month and you may stop at any month. You will never be obligated to continue.
Super-Deluxe has been among our most outstanding performers. This is no surprise because it serves up the best of our best. It gives you selected “buys” on strategies from our 15 other stock picking schemes. Private market intelligence like this is worth thousands of dollars, but you can get it for the cost of a monthly sandwich.
This 30-day free trial opportunity may be withdrawn at any time. I strongly encourage you to take advantage right now.”
Sincerely,
Dash Riprock
Chief Marketing Officer