When we start conjuring figures from thin air we move from storytellers to an industry that deliberately tries to pull the wool over consumer’s eyes for the benefit of a brand.
From In today’s era of ‘fake news’ and with the sensitivities around data following multiple breaches and The Cambridge Analytica scandal, it’s the responsibility of those working in the creative industries to ensure campaigns are all legal and above board. Latest insights, case studies and news from agencies, tech vendors, freelancers and other organisations. In the latest marketing move by fintech unicorn Revolut to draw criticism, a series of adverts were run which implied that it had One advert read: "To the 12,750 people who ordered a single takeaway on Valentine’s Day. In the latest marketing move by fintech unicorn Revolut to draw criticism, a series of adverts were run which implied that it had analysed user data on a deeper level than should have been possible.
Free Card from Revolut. The company, which offers app-based current accounts, has grown rapidly since its launch in 2015, reaching unicorn status (a tech-startup worth more than billion dollars) in April last year.The complaints referred to the FCA concern Revolut’s advertising campaign from February 2018. Holding events to support, inform, challenge and advise. ... Search 2,345 jobs in marketing, advertising, creative and media. How exactly could Revolut tell that a takeaway order was for one person only, that a £1 transaction at Greggs was a vegan sausage roll and not another item of similar value? The ASA stated “Revolut has admitted that the figures in the advert were made up and should have been labelled fictitious.This case is a reminder of the potential dangers for brands in highlighting consumer data (whether fictitious or otherwise) in advertising. The ‘bullshitter’ and ‘con artist’ tag is one that those in PR, marketing and advertising have fought long and hard to shake off.Ultimately, it’s our responsibility to ensure that all communications going out can be backed up if challenged. Hit the C-suite spot. What happened: The ASA has referred complaints about the banking app Revolut to the FCA, concerning the integrity of data used in an advertising campaign last year. In particular, the use of consumer data caused concern as the general public are much more aware about how their personal data is used and protected since the coming into force of the General Data Protection Regulation.The case is also a reminder that the ASA will defer to the FCA when a complaint relates to the advertising of a financial product or service. Take a fresh approach to raising your profile with potential clients. Creating compelling content your customers will love. We owe it to our industries and consumers to be honest and open, and it’s campaigns like this from Revolut that collectively set us back, and fuel misconceptions about the creative industry. All rights reserved.Want to read this article and others just like it?
Fabricating data of any kind not only can land you in trouble with the watchdogs and regulators, it also breaks consumer trust, which can have a long-term impact on brand sentiment.As anyone working in the creative industry will attest to, internal data from a business is a powerful marketing tool, and if harnessed correctly, can be used to great effect. We'd like to use cookies on this site to give you the best experience. 1.2K likes.
The short answer was, it couldn’t.While Revolut is the latest example of a brand being found guilty of plucking figures from thin air, it’s certainly not the only one. By clicking any link on this page you are giving your consent for us to do this.
Become a member to get access to: All you need to do is become a member of The Drum. Basic membership is quick, free and you will be able to receive daily news updates. Facebook is showing information to help you better understand the purpose of a Page. There have been several examples of businesses, big and small, fabricating data to be used in marketing, and many more that have likely got away with it scot-free. Complaints alleged that this advert was both “single-shaming” and hinted at Revolut’s improper use of users’ data.In a statement in February 2019, the ASA stated that it had received a small number of complaints in connection with the Revolut advertising campaign. Piers is fuming.”After a series of complaints from the public and on social media (particularly Twitter) a more critical eye was cast on the claims made in the adverts. The Latest news for the marketing & media industries. You ok, hun?" Search 2,345 jobs in marketing, advertising, creative and media. Explore the latest, and greatest, creative work from around the globe. Helping publishers increase engagement, improve monetization and drive new audiences. 75% of The Drum Magazine readership are senior management or above.Benefit from our monthly exclusive magazine content in multi-format.Subscribe today and be educated, entertained and empowered.© Carnyx Group Ltd 2020 | The Drum is a Registered Trademark and property of Carnyx Group Limited.
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One advert read:The advert was first drawn to the attention of the media by a tweet of the advert on the London Underground. Providing great companies with the recognition they deserve.
Marketing Agency. The ASA has referred complaints about the banking app Revolut to the FCA, concerning the integrity of data used in an advertising campaign last year.
When Revolut launched in 2015, it had modest ambitions “to turn the financial banking sector on its head”. and another “To the 11,867 people who brought a vegan sausage roll this month. Who: Revolut Ltd (Revolut), the Financial Conduct Authority (FCA) and the Advertising Standards Agency (ASA) Where: UK When: 8 February 2019 Law stated as at: 5 March 2019. However, the ASA found that the complaints fell outside of its scope, since the adverts did not breach any of its code.The ASA stated that where complaints concerned the product or services, these complaints fell within the remit of the FCA.
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