With numerous banks scaling back their operations, brokers are placing heightened emphasis on securing new vendor relationships, and rightfully so. However, it’s essential to note a compelling statistic: customers that originate directly are 11.8 times more inclined to return for their subsequent equipment finance needs compared to those who originate through a vendor.
In a recent study encompassing more than 1,000 small business equipment purchasers, each with at least one transaction facilitated by a broker, Secured Research unveiled enlightening insights regarding customer return sentiment:
| Industry | Direct Originated Customer Planning to Return to Broker First for their Next Finance Need | Vendor Originated Customer Planning to Return to Broker First for their Next Finance Need |
| Healthcare | 21% | 6% |
| Transportation | 40% | 12% |
| Machine Tools | 30% | 9% |
| Technology | 16% | 7% |
| Construction | 26% | 9% |
| Hospitality | 45% | 11% |
| Energy | 20% | 10% |
Acquiring customers who are unfamiliar with your brand is often the costliest endeavor. While vendor relationships are crucial, they can also pose challenges. By strategically diversifying deal origination methods to include more direct approaches, brokers can cultivate a higher rate of repeat business and pave a smoother path toward increased revenue.
