SFNet values its members’ input and feedback as it helps shape priorities and drills down to focus on what matters most. Results from SFNet’s Annual Membership Survey, completed earlier this year, were very positive, with 90% of SFNet members reporting they’d recommend SFNet to friends and colleagues and two thirds reporting SFNet’s response to the pandemic has been better than any other association to which they belong.

In fact, our association has seen our Net Promoter Score (a key measure of loyalty) steadily increase over the past three years, up 37 points since 2018 and well above trade association averages. Results also gave us ideas for areas of improvement, and SFNet is taking on several new initiatives in response to this. This article will break down the membership survey results and what the Association has planned for the remainder of 2021.

SFNet’s Annual Membership Survey Results

SFNet’s Membership Survey results were taken from 257 respondents consisting of a representative mix of member types and roles. Results are from both SFNet National and Chapter members.

90% of SFNet members would recommend SFNet to friends and colleagues while 10% would not.  Members who interact “often” with SFNet have a markedly higher Net Promoter Score (NPS) than those who “occasionally” interact, meaning to use us is to love us!

Members whose engagement with SFNet has “increased” or “remained the same” this past year display more than double the NPS of those who “decreased” their engagement.  Overall, most SFNet members are pleased with their experience, with those holding “executive” roles and having longer tenures the most satisfied.

SFNet continues to make efforts to engage its young professional and mid-career cohort groups. SFNet has worked to drive engagement with unlimited attendance options for virtual conferences and its new Member Forums, moderated by leading experts in the following areas:

• Credit
• Operations & Technology
• Business Development
• Factoring
• Legal
• Former 40 Under 40 Winners
• HOF/Past Presidents Mentoring

Now returning for its fourth year is our YoPro Leadership Summit, held virtually August 3-4 with regional in-person events expected.  Within our National YoPro Committee is a new sub-committee, Quarterly Catch Up Meetings, which will bring together young professionals quarterly over Zoom for networking opportunities throughout the year.

Information, Data & Insights have become more important during the pandemic and 98% found SFNet’s provision of these resources as well as advocacy and education have been the same or better during this period.

42% of members found networking has been more difficult, but just 27% who increased their engagement reported a decline here, suggesting new programming and platform tools made a difference.  Not surprisingly, those in marketing and sales roles felt this networking effect most acutely.

More women than men feel that networking has improved during the pandemic, perhaps reflecting the success of SFNet’s Women in Secured Finance Committee which has offered several casual networking and game nights/happy hours throughout the year with our Annual Women in Secured Finance Conference returning virtually for 2021.

The survey found that women are very interested in live online events (74%), crucial conversations webinars (70%), and on-demand content (68%).  Men favor the TSL Express e-newsletter (68%) and data reports (64%).

Members with higher interaction and higher engagement find offerings more valuable overall.

SFNet is making efforts to connect with members whose engagement has dropped. Overall, members found live online events of significant value.  In abruptly having to switch to virtual-only platforms for networking and conferences due to the pandemic, SFNet remodeled its pricing structure for its membership base for its Annual Convention in November 2020 and the Asset Based Capital Conference, held March 9-11, 2021 allowing thousands to participate in these programs for the first time.  Our online Swapcard platform and SFNet Connect app allows attendees to easily engage and schedule meetings after the conference has ended.

Our 2021 Annual Convention is expected to be a hybrid event, so our members can get back to in-person networking in Phoenix, AZ in November, which will allow opportunity for outdoor events and distanced networking in a resort setting. We will also offer a virtual event for those unable to travel to Phoenix.

Almost two-thirds of members believe that SFNet responded better to the pandemic than other associations to which they belong.

SFNet’s execution was found to be better in making members feel valued, relevance of offerings, ease of engaging, effectiveness of communication and helping them to succeed. 

Members ranked building relationships as the most important attribute followed by new business opportunities.

While SFNet plans to host its Annual Convention in Phoenix in person this coming November, we plan to continue offer opportunities to network and engage for our members with virtual conferences and our new Member Forums. Additionally, those members who serve on a Committee have additional opportunity to connect with others who share the same interest. Our Women in Secured Finance and YoPro Committees, for example, have a wide member base, and offer sub-committee opportunities within the National level, for people to further get to know their peers.

Members report a myriad of topics that they are interested in; however current events and forecast are top of mind.

These topics will be reflected in SFNet’s upcoming media and event programming.

The survey showed members would like to see more networking opportunities, both in person and virtual in the coming months.

SFNet’s Webinar, "State Financial Disclosure Legislation: What You Don’t Know May Hurt You" will be held on April 16.  Free for members to attend, this webinar will provide an overview and update on the current status of potentially challenging disclosure requirements on certain commercial financing transactions in California, New York, and Connecticut, as well as at the federal level.

SFNet launched its virtual Member Forums in February 2021 and plans to offer cohort-specific quarterly Forums and social events.  Our next round of Forums will occur May 4-13. There is no cost for SFNet members to attend these hour-long discussions.

Looking to get outside and network in person? Several SFNet Chapters are hosting in-person networking events. The Philadelphia Chapter will host a golf outing on May 10 at the Llanerch Country Club in Havertown, PA. SFNet’s Northern California Chapter will host its 25th Annual Golf Tournament on June 14 at  the Chardonnay Golf Club in American Canyon, CA.

SFNet’s Innovation Conference “The Future of Work” will be held virtually in July and will focus on how social and technological changes have accelerated and are revolutionizing the landscape of lending. This Conference will address what the world of secured finance looks like as we emerge from the crisis and asks, is your business leading, adapting or falling behind? The agenda will include panel sessions followed by small, interactive roundtable discussions.

SFNet’s live online International Lending Conference will be held May 12 and 19. For more information click here.

We value our members’ feedback, and this feedback has helped us shape our priorities. Be sure to subscribe to our event emails to keep informed about networking opportunities or check our events listings on our website for more information.