Limiting parking to cars is holding your asset back. This is how more dynamic operations are diversifying parking revenue with parking plus an ecosystem of revenue-generating services.
Garages and lots can be an asset to our cities in more ways than one. When you adopt the mobility hub mentality, there are more opportunities to offer value to customers and create new streams of revenue for yourself.
And that’s why conventional investment wisdom holds true here; not putting all your eggs in one basket means less risk. With more service offerings, you have more sources of revenue feeding into the same system. So, when demand for one drops, the others can pick up the slack.
The hub mentality goes beyond that, too, leveraging more sophisticated pricing strategies and high-power integrations. It’s all about giving consumers the right product at the right time at the right price.
These are the top five ways our customers are using the mobility hub model to maximize their revenue in today’s transportation ecosystem:
1. eParking Reservations
Integrating with parking reservation systems puts your garage on the map where consumers are looking. For locations that rely on transient parkers, accessing these apps as a source of customers can be a profitable avenue. Plus, with the popularity of in-app payments today, realizing that revenue is faster and easier than ever.
2. Dynamic Pricing
Using robust intelligence, dynamic pricing gets a simplicity treatment. Set up automatic pricing changes according to demand data, or switch rates with a tap of your finger. With these powerful pricing capabilities within reach, it takes less to make more.
3. Auto Services
While consumers are at your garage, upping the value of their transaction via car cleaning and servicing is a great way to add on to that revenue figure. It makes sense for vehicles to get these treatments at a place they’ll be for a while, in the same way that hotel guests splurge for that spa treatment they’ve been putting off.
4. EV Charging
Range anxieties are being eased and EVs are taking a clear step into the limelight as an affordable, realistic consumer vehicle option. That leaves charging as the last challenge to be surmounted in the path towards the cleaner, battery-powered future of cars. And our garages and lots will be a clear winner in convenience for EVs to charge.
5. eScooter Docking
The new norm for getting around includes last mile transit like eScooters and Bikes to go the last mile. A trend that COVID-19 has only furthered. So, for the consumer that’s already seeking out a scooter to take them from the garage to the office lobby, why not put scooters just a few steps from the parking space?
Yesterday’s revenue control systems may have been enough for parking cars, but tomorrow’s mobility hub mentality needs more. More capabilities, more adaptability, and more intelligence.
Start building that maximum revenue parking system today and then add relevant service offerings as consumer demands evolve. With an intelligent operating system for your mobility hub and this new approach to building value from your asset, you can set yourself up for success.
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