Maximizing ROI on Your EV Charging Investment
Installing EV charging stations at your business can be a strategic investment with long-term financial benefits. But like any investment, understanding how to maximize return on investment (ROI) is key. This guide will walk you through actionable steps, supported by Roam’s expertise, to help you increase revenue, attract new customers, and enhance your brand through EV charging.
Project overview
Why EV Charging is a Smart Investment
As the demand for electric vehicles grows, businesses that offer EV charging gain a competitive edge. Charging stations don’t just attract EV drivers—they create opportunities for new revenue streams, longer customer dwell times, and brand loyalty.
Investing in EV charging:
- Attracts more visitors, including new customer segments.
- Encourages longer stays, leading to higher spending.
- Reinforces a sustainable brand image, appealing to eco-conscious consumers.
With Roam’s support, your business can fully leverage the benefits of EV charging, maximizing both financial returns and brand impact.
6 Steps to Maximize Your ROI with Roam
- Select the Right Funding Model
Roam offers fully funded and client funded options, each with distinct benefits for your business model. A fully funded approach minimizes upfront costs, allowing you to offer charging as a service with minimal financial risk. In contrast, a client funded model gives you full control over pricing and branding, which can boost revenue if you plan to charge for EV use.- Tip: Roam’s advisors can help you assess which model aligns best with your financial goals, ensuring you get maximum ROI from the start.
- Set Strategic Pricing for EV Charging
If you’re opting for a client funded model, setting a fair yet profitable pricing structure is essential. Roam can help you determine competitive rates based on factors like local market conditions, charger speed, and typical customer usage. Offering flexible options—like free charging with a purchase or paid rapid charging—can attract both casual visitors and regulars.- Example: Charging a moderate rate for DC fast charging while offering a discount for slower AC charging can cater to various customer needs and maximize your revenue potential.
- Optimize Charger Placement to Increase Visibility and Usage
Where you install your chargers can impact both usage and customer satisfaction. Roam’s team can advise on strategic placement to make chargers easy to find and accessible to drivers. Prime spots, such as near entrances or high-traffic areas, increase the likelihood of customers using the chargers and can create a positive first impression of your business.- Tip: Clearly marked EV spots with visible Roam branding make it easy for customers to locate chargers and enhance your business’s appeal to EV drivers.
- Leverage Roam’s Marketing Support to Attract More EV Drivers
To maximize station usage, it’s important that EV drivers know where to find your chargers. Roam promotes your location on EV maps, apps, and other platforms to make sure drivers can easily find your business. We can also support your own marketing efforts, helping you advertise your EV amenities on your website and social media.- Benefit: Roam’s marketing initiatives drive additional traffic to your location, helping you attract a new customer base with minimal effort.
- Monitor Performance with Data Insights
Roam provides data on charger usage, customer patterns, and revenue generation, giving you valuable insights into your EV charging ROI. By understanding how customers use your chargers, you can adjust your strategy over time—for example, adding more chargers or adjusting pricing during peak hours.- Tip: Use data insights to identify high-demand times or popular charging speeds. If specific chargers see more use, consider expanding capacity to meet customer demand and further boost ROI.
EV charging offers a strong return on investment, especially when managed strategically. With Roam’s support, you can maximize ROI by choosing the right funding model, setting strategic pricing, and leveraging data-driven insights. Our marketing and promotional expertise ensures that your EV chargers attract new customers, enhance their experience, and create a steady revenue stream for your business.
Partnering with Roam allows you to capture the full potential of EV charging, attracting eco-conscious customers and boosting your bottom line—all while reinforcing a sustainable brand image.