There’s been a number of stories in the recent news about Green Deal providers and renewable energy companies that have fallen foul of advertising regulations. Mostly it’s because their claims for energy efficiency or financial savings haven’t been clear.
Mis-selling can range from deliberately misleading advertising messages through to negligence and missing out key information you’re obliged to tell customers.
The penalties for mis-selling are serious
There are specific rules on how finance information must be displayed within promotional materials so you need to make sure you’re up to speed. It’s not always easy to get it right, even the Green Deal Finance Company was recently found by the Advertising Standards Authority to have fallen foul of consumer credit advertising regulations.
What you need to do…
If your company’s sales or promotional activities make any claims or references to finance, then you need to able to prove they are accurate and truthful.
Mis-selling can occur at any time in the sales process, which is why regular training is vital and why you need to monitor the behaviour of sales employees or representatives. You need to pay particular attention to the messages conveyed in:
– Advertising & sales promotions
– Performance information or predictions
– Proposals, estimates & quotes
– Pre-contractual information, including the ‘important information’ section
Remember! We’re always happy to review your Solar PV & Renewables promotional materials. Speak to your BDM or call the Head Office team on 0845 120 6666.
Next Article: How to ensure your credit promotions are compliant…