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Post by loftankerman on Jul 1, 2018 17:05:15 GMT
Actually the more I think about it, I feel writing soliciting reviews - good or bad - is completely inappropriate. Where you have a site with an SM, I feel this could be used for market manipulation - example, lets say you are a lender who has wants to exit, and have stuff on the SM. You are generally a bit fed up with Lendy and the SM isn't moving - what is more useful to you? A 1 star review will discourage new lenders, or a 5 star glowing review to get more punters in to get a bit of liquidity in and your parts moving on the SM. So I think its a good idea to consider the motivations of anyone writing reviews - good or bad. I wonder what people are up to when they say "Good morning!"
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empirica
Member of DD Central
Posts: 326
Likes: 235
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Post by empirica on Jul 1, 2018 19:26:20 GMT
Thinking back, I had a Customer Service phone call from Lendy earlier this year. I told them things didn't look too good, and they certainly had something to prove before I would be adding to my account. Needless to say I didn't get an invite for a TrustPilot review! Actually the more I think about it, I feel writing soliciting reviews - good or bad - is completely inappropriate. TP recognise the problem with _ as they call it _ 'Cherry picking', and they say: " Our Company Guidelines require companies to invite their customers to leave reviews in an unbiased way. If companies attempt to select only satisfied customers to leave reviews, we call this ‘cherry picking’. Such behavior can mislead consumers and may be illegal, so we don’t tolerate it. Companies that persist with such practices risk having a consumer alert placed on their profile. Also, members of our community can report suspicious behavior to us and we have targeted processes that help us detect problems" Quite how many 'alerts' _ proportionally speaking _ have been placed on fee-paying companies' profiles would be an interesting statistic to review.
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jwatson
Member of DD Central
Posts: 51 
Likes: 39
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Post by jwatson on Jul 1, 2018 20:08:22 GMT
Thinking back, I had a Customer Service phone call from Lendy earlier this year. I told them things didn't look too good, and they certainly had something to prove before I would be adding to my account. Needless to say I didn't get an invite for a TrustPilot review! Actually the more I think about it, I feel writing soliciting reviews - good or bad - is completely inappropriate. TP recognise the problem with _ as they call it _ 'Cherry picking', and they say: " Our Company Guidelines require companies to invite their customers to leave reviews in an unbiased way. If companies attempt to select only satisfied customers to leave reviews, we call this ‘cherry picking’. Such behavior can mislead consumers and may be illegal, so we don’t tolerate it. Companies that persist with such practices risk having a consumer alert placed on their profile. Also, members of our community can report suspicious behavior to us and we have targeted processes that help us detect problems" Quite how many 'alerts' _ proportionally speaking _ have been placed on fee-paying companies' profiles would be an interesting statistic to review.
I imagine Lendy invite all new lenders to submit a review shortly after they've first signed up. It's not really cherry picking as such, but fortunately for Lendy the majority of people in that honeymoon period will have a positive view of Lendy, as it's really about the ease of signing up and the use of the website in that initial period. The fear of losses and not being able to sell on the SM comes later...
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Post by thecleaner on Jul 2, 2018 9:41:07 GMT
Going to a hell of a lot of trouble to get these negative reviews pulled down. The majority appear ok to go to me. Trustpilot and Lendy have struck up a deal me thinks.
It comes to something though when you just cant say how you feel
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Post by loftankerman on Jul 2, 2018 11:04:37 GMT
Going to a hell of a lot of trouble to get these negative reviews pulled down. The majority appear ok to go to me. Trustpilot and Lendy have struck up a deal me thinks. It comes to something though when you just cant say how you feel You can say how you feel, but it needs to be couched in reasonable terms and not accompanied by a tirade of abuse. Calling them crooks, and in the case of the most recently removed review "s**m b*g*", is a guarantee of at least removal and possibly litigation. When (if) my remaining involvement is terminated one way or another, I'll write a factual review that will provide no grounds for them to have it removed, but will be readily contestable should they try. Reading around, it is easy to discover that TP have a reputation for being not too difficult to manipulate from the company standpoint. For all they say about reporting cherry picking etc, I couldn't find an easy path to doing it. Finding opportunities to complain publicly about TP and Lendy's relationship would be more likely to show TP in a more unfavourable light and make them less prone to throw out as much as possible. They will prioritise their own reputation over Lendy's.
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Post by p2plender on Jul 2, 2018 20:13:49 GMT
Quite simply, mention this place in the review. Totally fair.
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Jul 2, 2018 20:31:22 GMT
In order to get a cross section of experiences, how about a poll along the lines of:
1. Did you receive a Lendy Customer Services phone call around Easter this year, enquiring about your Lendy experience?
2. If YES, was your feedback POSITIVE or NEGATIVE?
2A. If POSITIVE, did you receive an email invitation to leave a TrustPilot review?
or
2B. If NEGATIVE, did you receive an email invitation to leave a TrustPilot review?
3. If you did NOT receive a Ly Customer Care call around Easter, did you receive an email invitation to leave a TrustPilot review?
That would generate a straw poll of experiences to gauge if there's a case of selective invitation.
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withnell
Member of DD Central
Posts: 550
Likes: 491
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Post by withnell on Jul 3, 2018 13:54:07 GMT
I thought they asked for reviews to be left within one of the newsletters - so would be to everyone?
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Jul 4, 2018 3:38:59 GMT
They did, but the last time I saw that was 15 months ago, when things were still fairly rosy.
Unless there are different versions of the newsletter?!? I might add that to my proposed poll!
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withnell
Member of DD Central
Posts: 550
Likes: 491
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Post by withnell on Jul 4, 2018 16:00:59 GMT
I see a link asking me to rate on April's monthly interest mailout, on 1st May - removed from the May/June versions though
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michaelc
Member of DD Central
Say No To T.D.S.
Posts: 5,712
Likes: 2,986
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Post by michaelc on Jul 4, 2018 22:48:43 GMT
The business model of Trust Pilot is flawed. The clue to that is in the name - trust. They generate their income from the businesses that are under review and so they are compelled to maintain a bias towards their reputation. Whatever they might say about not allowing businesses to manipulate their reviews can't possibly be the case whilst those businesses generate all the income for TP. It will take time but eventually people will twig and another site will pop up (possibly using an ad generated model) that is genuinely unbiased and like so many other internet sites before them, TP will be toast. Lendy does not have any special relationship with TP. They bung a few grand every year and get to hold the lid on the complaints jar. uk.business.trustpilot.com/plans |
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Post by portlandbill on Jul 5, 2018 8:27:51 GMT
My 1 star review has at least survived the Lendy objection and TP review process.
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Post by loftankerman on Jul 5, 2018 10:05:25 GMT
My 1 star review has at least survived the Lendy objection and TP review process. Nice 'one'. I note that a review has returned but fear that its damning criticism won't count for much in the face of its four star contemporary review that simply states "Quick and efficient sign up. Great so far." I was almost tempted to put more money in myself.
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reinvestor
Member of DD Central
Posts: 194
Likes: 224
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Post by reinvestor on Jul 16, 2018 19:02:48 GMT
Have they given up fighting it??
There are one star reviews that are more than a few days old still live!!
I thought they flagged them in minutes!!
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Jeepers
Member of DD Central
Posts: 818
Likes: 721
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Post by Jeepers on Jul 16, 2018 21:33:21 GMT
5 repayments in 3 working days.
If they keep recovering loans at the current rate, I'll be leaving a positive review.
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