The challenging landscape faced by SMEs over the past two years has led to a double whammy of heightening business owners’ appetite to manage costs whilst also increasing time constraints.
Self-serve transactions allow the business owner to input their energy requirements, compare real-time energy rates and switch energy providers without needing to speak to a human at their own convenience.
The company has reported significant customer growth of 1,250 per cent in the past two years – with more than one in five choosing to switch online at a time that suits them, rocketing up from almost one in 50 only two years ago.
It has helped attract a further 11,000 small businesses – including hairdressers, pub landlords and shopkeepers.
And one in four of those customers took full advantage of the LOVE business utility market place and switched an additional product on top of energy.
Although common in the domestic market, this type of live comparison and sign-up is new to the business energy market who require a more complicated algorithm in order to make recommendations for firms who often have fluctuating demands.
Traditionally, the only way to switch was for a sales advisor to discuss energy requirements during office hours which can be time consuming and often when the small business owner needs to be working.
The Bolton-based firm has heavily invested in the development of a fully self-serve business comparison website that means the majority of businesses can now generate live energy quotes 24/7 and make the switch without the need for inconvenient follow-up calls.
Love Energy Savings’ Chief Marketing Officer, Phil Windas, said: “Small businesses are looking for every way to conserve cash and with energy bills still high, switching your provider has the potential to save hundreds and thousands.
“But traditionally this hasn’t been easy or convenient.
“The investment in creating a business-friendly tech-led comparison site has been considerable, but it’s clear from the huge embrace by customers that there is a demand for a fully self-serve option.
“This means business owners can be confident they are getting the best rate for them and during a time that works in their busy schedule.”