In today’s dynamic business landscape, small businesses must stay ahead of the curve to remain competitive. One trend gaining global momentum is the integration of electric vehicle (EV) charging stations into business premises. It’s not just about meeting the needs of a small percentage of your customers today; it’s about embracing sustainability and technology to put your business (literally) on the map for the future.
Here are five compelling reasons why small businesses should consider investing in EV charging infrastructure sooner, rather than later.
1. Elevate Your Brand Image
More and more people are driving electric cars – nearly 14 million new EVs hit the road worldwide in 2023, reaching 40 million in total. Sales shot up by 35% in just a year, and an increasing number of survey respondents say their next car will be electric.
Installing EV charging stations demonstrates your commitment to sustainability and positions your business as environmentally conscious and forward-thinking. This can attract a new customer base while setting your business apart from competitors. Being perceived as a business which cares about more than just profit is more important than ever, with younger generations identifying corporate responsibility as a key factor in purchase decisions. In this way, being associated with eco-friendly initiatives enhances your brand’s reputation and can lead to positive word-of-mouth referrals.
2. Drive Customer Engagement and Loyalty
If you own a bricks and mortar business, offering EV charging facilities can have a positive impact on foot traffic and customer engagement. Customers are likely to spend more time and money at your establishment while their vehicles charge, leading to increased revenue and enhanced loyalty. It’s not just existing customers you’ll be seeing more of, either; when your chargers are installed, your business can be included on ‘find-a-charger’ services which locate charging stations for EV drivers, giving you instant access to a new audience motivated to find your location.
Furthermore, providing a convenient service like EV charging can create a positive experience for customers, encouraging them to return and recommend your business to others.
3. Capitalize on Financial Incentives
Depending on where you live, many government jurisdictions offer financial incentives – such as government grants and tax benefits – to support the installation of EV charging infrastructure. These can cover up to 75% of the cost of purchasing and installing equipment.
Taking advantage of such incentives can significantly reduce upfront costs for small businesses, making EV charging more accessible and affordable. Additionally, investing in EV charging infrastructure can lead to long-term cost savings by enabling your own business to reduce expenditure on traditional fuel sources and other expenses associated with traditional ICE vehicles.
4. Future-Proof Your Business
Investing in EV charging infrastructure positions your business at the forefront of a growing industry. As electric vehicles become more prevalent, businesses that offer charging facilities are better positioned to meet evolving customer needs and adapt to changing market trends. By embracing new technologies and consumer preferences early on, your business can maintain a competitive edge and stay relevant in an increasingly electrified world.
EV charging stations contribute to reducing carbon emissions and supporting sustainable transportation options. By promoting electric vehicle use, small businesses can play a role in mitigating environmental impact while enhancing community engagement and goodwill. Furthermore, being seen as an advocate for sustainability can strengthen ties with local residents and organizations, fostering a positive reputation and encouraging community support for your business.
5. Create a New Revenue Stream
A key aspect for small business owners to be aware of when it comes to EV charging stations is that they can actually make you money. While some businesses choose to offer free charging to attract customers, others charge a small fee to cover the cost of electricity and bring in extra cash for the business.
By charging for EV charging, businesses can pay for the setup and upkeep of the charging stations by a reputable firm which specialises in installing and maintaining commercial EV chargers. Plus, it encourages people to be responsible with their charging. If they have to pay for what they use, they’re less likely to hog the charger for too long. This means businesses can keep providing great service to their customers while still making money.
By investing in EV charging infrastructure, small businesses can not only enhance their brand image and customer engagement but also help to contribute to a more sustainable future. Adding this valuable amenity to your premises is guaranteed to not only bring in new customers, but to position businesses as leaders in their communities and industries. With the added bonus of financial incentives and tax benefits, investing in charging infrastructure is a strategic move for modern businesses: one which paves the way for long-term success and growth.
Lauren Hamilton has over 20 years of experience in marketing, with specific expertise in digital communications and business-to-business strategies. After a decade of running her own boutique digital marketing agency working across multiple sectors, Lauren has honed her focus to the energy industry in her role as Head of Marketing at Smart. She leads a team which is responsible for all aspects of business marketing from communications and PR to content production, digital marketing and event management.
Lauren holds a BA in Communication Studies and a Graduate Certificate in Brand Communications. She is a passionate environmentalist and speaker on topics as varied as small business marketing strategies to female entrepreneurship. Follower her on LinkedIn.
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