Siegel+Gale recently completed a year long study of 1,214 American
homeowners and investors that shows huge demand for simple, plain
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:79% increased interest in investing in a financial product,
73% increased interest in selecting a broker or a financial advisor,
67% increased interest in purchasing a life insurance policy,
63% increased interest in taking out a loan, and
63% increased interest in applying for a credit card.
Legalese, corp-jargon, ad-speak... they're all simply a way of covering bases and covering tail.