Marketing, Scams & Narcissism:Apple Investment Co P/L & Apple Investments P/L
Some years ago a Gold Coast betting software company contacted me, trying to sell me betting software. I was curious to see the package design, the methods used to sell, sales skills of staff, delivery of product, etc, so I said send me your information.
In the post arrived their promo CD (= video) and the full colour, good quality glossy brochure, felt substantial, complete with (stock) lifestyle images, images showing phenomenal investment growth, etc. The usual. That would have cost them a bit – cheaper in Asia. The video was much the same: glamour, excitement, enticement. The usual. Disclaimers or cautions in fine print. Aha - gambling - no thanks, no matter how glamorous they try to make it.
When I was contacted by Apple Investment Company in response to my email regarding real investment, the salesman kept trying to turn my investment questions back into his script for software sales. It was actually quite amusing at times. I had to cross question him in the end to nail him on some straight commitments to yes no answers without the spiel.
So the phone sales process normally would have gone:
1. Phone contact - sales spiel containing key words and phrases. Client qualified as to which product: software or the new education packages. Large investors referred to client manager for MDA if they could push past the software salesman.
2. For education package prospects, email: More information link.
For those interested in trading send or link to brochure for the Ultimate Wealth Creation Vehicle (brochure with picture of money stacking up from $5000 investment.) (I did ask later why I had to put in $10,000 when the brochure said $5,000 - I put in $300, the minimum, and got it back.)
3. Follow up email and phone call to get client to purchase point and assist over the line to sale.
4. Post sale email congratulating/welcoming/affirming sales choice and elevating then handover to Customer Support.
How their scammer sales speil Works to free you of your money:
I was going to detail the science behind modern hypnotic sales techniques, but just in case there are any trainee scammers looking for successful scamming techniques I decided against it.
Suffice it to say its basic sales training, acting and either
total brainwashing of sales staff by their bosses to the point where the salesman believes in what they are selling or a
total absence of conscience and empathy, which can lead to
sociopathic and psychopathic behaviour.
For all the nice words the
scam sales and service staff don't give a damn about you or your family. If they did they wouldn't be working there.
You can't reason with them, unless there is more in the deal for them than you. It's all
win-lose: they win, you lose. Never assume they’re like you –
think alien cyborg.
Brainwashed staff become narcissistic:
Rule 1: they (or the company) are right and their way is right.
Rule 2. If they or the company are wrong read rule number 1.
Rigidity is normal for them; contracts, threats and injunctions are their weapons if threatened.
If you show doubt or dissatisfaction concerning them, their company/product/method they are programmed to become aggressive, abusive or shut you out. Their processing goes like this:
A refund? Why would you want a refund?
How dare you insist on a refund!
Their product is the Ultimate Wealth Creation Vehicle... or whatever
There must be something wrong with you...
You are unkind.
You have hurt my/our feelings.
You are disloyal.
You are negative.
You must be removed before you infect others.
We must distance ourselves from you and your kind.
Your words disturb their reality - for them that is as dangerous as invasion.
Like daleks:
Destroy! Exterminate!
The scammer company prefers to be challenged legally and invisibly - that way they can trade money for your silence if necessary, and continue in their delusions and in business.
Speaking the truth as we do on FPA is the scammers nightmare: exposure. This also means they have to start again with a new scam.
For the scammer it’s not all about the money – they get their kicks out of domination. It’s a power trip and they’re addicted. Just get out of their way and warn others if you can.
Never give away your power to their inducements.
The safest way to deal with all scammers if you get one on the phone is to
hang up straight away. Otherwise it can do your head in (polite way of putting it) if you have the type of psyche that is vulnerable to their techniques. Even if you don't purchase anything, just listening to the spiel is really bad for your health and wellbeing. It's a mental hijack and can screw up your head for years.
Contrary to logic, once your self-esteem is damaged by one scammer, you’re likely more likely to fall prey to the voice on the phone again or other techniques. You may stop before you hand over your credit card details this time but it can trigger some unexpected emotional reactions. Get experienced professional help – seriously. Break the cycle and get your life back.
Alternatively screen your calls, don't answer blocked or private calls or divert to an answering service and get on the "do not call" list for telemarketing. List your phone number as “silent”. It's also very peaceful
Back to AIC's marketing techniques....
It's cheaper to market with access to the internet, but the overall technique was very similar to the marketing for the betting software. These people have thrived in the culture of the rising entrepreneurial spirit, as the consumer has had difficulty telling the true entrepreneur from the scammer. ASIC is also having some fun with that as well.
By contrast contacting
an authentic established decent investment company to get information I would be sent what used to be called the prospectus (PDS & FSG), I would not be pressured but left with the information to talk with my accountant and anyone else that should be consulted on this before making up my own mind.
Then if I want to buy I would call them back. Very different. No pressure, no cultivating fear within me, no abusive relationship, no power games. Just a simple respectful relationship between equals. That's the way it's supposed to be. If it's not I give them feedback on why they failed to "sell" me.
A good product sells itself by reputation. No one has to bully me into buying it.
These days if anyone pressures me on the phone, tries emotional manipulation or tries to keep me on the phone to sell me something ... I consider them scammers. I always feel bad after exposure to them. It triggers unpleasant reactions. It's bullying. I don't deserve that, nor do you.
Back to the evidence:
But who would think to ask, say, Microsoft, for their PDS and FSG before investing in software or a computer system?
So why would anyone think to ask Apple Investment Company for their PDS or FSG before purchasing the software FX Calibre?
In fact we don't even know if they were required to supply these documents for software sales under Australian Law.
My best guess is that they should have behaved more professionally, as if they were a real investment company. Their lack of experience showed. I'm not sure how Mark Power Financial Pty Ltd and FXCM missed that factor. I guess they've never been on the receiving end of the Apple Investment Company sales pitch. "Mystery shopper" for quality assurance might have been a good idea, guys, in the interests of your AFSL, your business insurance and our protection as consumers. You have a duty of care to the market place and to the Australian Financial Industry as a whole. Your AFSL is supposed indicate maturity and intelligence in financial matters, to set you apart from the scammers and conmen. You failed in your due diligence. Your risk and indemnity clauses don't come near to covering our societal values in this area. At the very least this shows neglect of your customers, regardless of the Law.
Consumers are becoming less tolerant of poor service by businesses. In this competitive and communicative world the power of the mouse is can kill a company or product overnight. These days more than 10 real complaints about a business means that business has failed. It's a long way back up the ladder to consumer trust and business success. :unhappy:
AIC they were subject to AFSL rules from ASIC and that cover all their operations, not just their managed investment. But they would have known that any stuff ups by them would be covered by Mark Power Financial Pty Ltd. If the accusations against Apple Investment Company Pty Ltd gain traction with FOS and ASIC Mark Power Financial Pty Ltd and even FXCM could be disciplined and fined, with the attendant public shaming.
I hope MPF and FXCM sue the scamming butts off the “brains” behind Apple Investment Company!
:nerd:
