Providing a great experience matters.
Here’s a surprising stat:
On average, more than half of all former customers responded that they would consider returning to a broker for a subsequent finance need.
Less than 20% responded that they go to a broker first.
Here’s the reality:
Providing a great customer experience is essential to earning repeat business. The data tells us that too many times the brokered finance experience leaves many customers looking for non-broker finance alternatives for future needs.
By the numbers:
We looked deeper into the data from a recent study* of more than 5,800 small business equipment purchasers with at least one transaction completed with a broker and examined customer return sentiment by industry. Here’s what we found:
Takeaway for brokers:
This is a caution for brokers. A straightforward customer experience is critical to maximizing deal flow and customer loyalty. And—unfortunately—one bad broker experience can mess up a customer’s perception of the entire broker universe.
But there is also opportunity here. A broker who offers a simple solution and process, and who delivers great personal service, can differentiate themselves and win.
TimePayment can help.
We help brokers say “Yes” to more customers, by offering best-in-class equipment lease financing, industry-leading technology, access to API, and superior account service, training, and back-office support. TimePayment has helped over one million customers with transactions from $500 to $1.5MM+, and brokers rely on TimePayment for the speed, convenience, and technology solutions they need to grow.
It’s fast, easy, and free to sign up
. Approved brokers start with lease finance programs like $1 Buyout, Lease-to-Own, Fair Market Value, 90 Day Deferred, and our exclusive TurboLease**. Visit our Broker
page if you want to learn more or contact us
if you want to discuss how we can help your business.
*2023 Sawbux Greenwich Study of Commercial Finance Decision Makers
**Exclusions may apply.