Good News & Bad News About Returning Customers

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. Yes, but: 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: Industry breakdown of responses 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. Get started: 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.
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