In what has become a yearly tradition, boutique marketing firm Sawbux Marketing has recently released the results of its #EquipmentFinance Decision Maker Survey—a survey of leaders from across the equipment finance industry that is conducted by an independent market research firm.
The survey aims to provide more understanding about how executive-level financial decision makers are viewing lenders and making their decisions, and it is broken into three categories:
- Vendor/Small Business
- Middle Market
- Large Corporate
This year, there were 504 respondents for the Middle Market category of the survey, with 79% holding the title of CFO or VP of Finance, and 14% holding the title of President or CEO. And of those respondents, 42% came from businesses that had group ownership, while 29% came from businesses with single/family ownership.
It’s definitely worth taking a look at the full report (which can be found by clicking here), as it offers a peek into what some of the more influential members of the equipment finance industry have to say on issues like searching for new equipment lending relationships (spoiler alert: 58% say they regularly do).
Below are some of the key things that stood out from this year’s survey.
- 83% would pay more if there was a perceived value in the relationship
- 93% want to hear what makes an equipment finance company unique and different
- 82% will “seriously consider” a lender recommendation from a referral source
- Lenders that lead with their company capabilities or rate are poorly regarded
- Lenders that offer ideas, insight or information are “highly likely” to earn an opportunity
And if you want more, check out Sawbux Marketing’s blog for more takeaways from the other survey categories, with more information and insights to come!