Empowering Vulnerable Business Customers: Leveraging Community Partnerships for Economic Resilience

By John Bord, Senior Consultant

While many utilities focus on vulnerable residential customers and understand their situation, there are also vulnerable business customers in the small and mid-size market segments. Factors that negatively impact business customers are more complex and may include financial instability due to lack of access to capital, seasonal or inconsistent cash flow, limited revenue diversification, dependence on a single market segment or supplier, and/or operating in a highly competitive or volatile industry.

Leveraging community partnerships is critical for business owners and their leaders to build meaningful relationships through Chamber of Commerce events, economic development events, professional associations, and local and regional government agencies.  Many utilities are highly engaged in their local communities, so this is an excellent opportunity for their business account managers to connect their customers to a broader network of community partners to ensure a robust economic climate for everyone.

A great example of this philosophy is from CPS Energy, whose Energy2Business initiative is a strategic effort that bridges SMBs with supportive non-profits – and much more. Insight Center subscribers can check out their recent Chartwell webinar:

Contact John Bord with questions, a meeting request, or to learn more about the Chartwell Business Customer Leadership Council.