In Case You Missed It: Airport Webinar
The Ultimate Comeback for Profitable Airport Parking Management
7 min read
It cannot be denied that the airport industry has experienced immanent setbacks over the past two years, requiring a greater focus on revenue generation. However, a post-pandemic world is on the horizon and airports across the country are beginning to see a return in visitors with a new need for easier, safer, and faster experiences—and this includes parking.
The secret for a successful recovery is simple—managing your airport parking operation using innovative technologies that benefit you and your visitors.
We recently hosted an insightful discussion on the top innovative technology trends that will result in successful airport parking management, efficient performance and more significant revenues. The panel comprised industry experts Andrew Sgorlon, Technical Sales Manager and Adamo Donatucci, Business Development and Strategy Officer at Precise ParkLink, and guest speaker , CEO of the Airport Management Council of Ontario.
In case you missed our webinar on The Ultimate Comeback for Profitable Airport Parking Management, we’ve summarized the key discussion points for you.
Canadian Market Update: An Airports Need for Revenue Generation
COVID 19 brought about many changes to Canada’s airports – particularly the loss of passengers and revenue. Nearly 75 to 100% reductions in passenger service were seen at regional airports. In most cases, revenues were also reduced by these levels. However, as an essential service, there was no option to cease operating. Airports provide lifesaving services such as medevacs and cargo transport for items such as vaccines. The cost of operations increased due to higher health and safety standards.
Traditionally an airport’s revenue has been very heavily tied to passenger use. The industry is hopeful for an increase of passengers this year, with a return to 2019 levels not projected to happen for several years. Therefore, there must be a shift in revenue generation. Increased non-passenger revenues and higher revenue per passenger are critical to a resilient airport system.
Throughout the pandemic, technology has been implemented to ensure a safer experience for passengers. From virtual security lines to biometrics for a touchless boarding process, new technology has helped create healthy and safe airports. Non-passenger-driven revenue generation is one important area to ensure stable income in times of downturns in travel. However, airports of any size can also consider directly providing ground handling and fuelling services. Being in control of the many services at your airport will bring in the most revenue.
Creating a seamless and passenger-friendly experience is the future of airports. At the heart of this is the digitization of the passenger experience. Using intelligent data solutions will help airports to increase revenue. These solutions can be implemented at both large AND small airports. By capturing the passenger's information, airports can target their advertising and create custom packages that encourage a higher spend rate. A custom package could include pre-purchasing parking and a meal at an overall discounted rate. Still, it may increase revenue if the customer may otherwise not have chosen to park at the airport.
By knowing your parking audience, airports will assess the need for parking accessories such as electric charging facilities. They will also be able to identify the time of day when parking lots are at/near capacity and which parking spaces are taken first and charge a premium during peak times or for highly desirable spots.
Tracking passenger trends can help identify bottlenecks in the system and work to become a more efficient, passenger-friendly airport. When passengers have a better, faster experience, they have time and patience to spend more money on concessions. This information can also help to identify missed revenue opportunities. Passenger airport flow can also determine where people dwell and at what time; airports can then charge a premium for advertising in that space.
This type of shift in thinking that airports are using to recover lost passenger revenue for the last two years. Technology will remain critical to recovery and the future development of the aviation industry. The industry is going through a transformation as it emerges from the pandemic, and the technological shift has been expedited in its wake. Whether large or small, airports can use technology and creative thinking to increase their revenues and remain sustainable.
Traditional Parking Management Services is No Longer Sufficient
People used to fuel technology. Today, it’s the other way around. Airport parking operations of all sizes are pivoting their strategies to encompass intuitive hardware, customer service, self-management, and creative marketing to increase cost efficiency, accuracy, and growth.
Intuitive Hardware
Frictionless and accessible
Digital technical support
Customer Service
Remote monitoring
Intuitive response
Self-Management
Live system monitoring
Creative Marketing
Loyalty programs
Advertising
Last-mile services
Flexible Permits: The Key to Increase Recurring Revenue
Providing flexible permit models for you and your employees is the key to increasing recurring revenue. Flexible permit models include anything from pay-as-you-go to prepaid permits that can be customized to meet the needs of your employees. As a seamless integration into your existing parking system, flexible employee permit software comes equipped with an automatic reporting engine that provides endless insights including:
Statistical and financial reporting
Billing accounts receivable management
Inventory and parking lot set up
Rates and fees management
Daily active subscriber reconciliation
Scheduled report generation via email
An automatic reporting engine can track and give you the opportunity to enhance revenues. Increased financial flexibility also allows you to plan and regulate your monthly cash flow with ease. Subscriber integrity remains a top priority. Employee permit management software ensures secure data processing, data and information privacy, user auditing, and ultimate security.
The Importance of Leveraging Digital Operations
It is imperative to deploy live central monitoring and customer service to ensure the utmost quality and accuracy of your operation regarding technology. It allows property managers to excel operational success in various areas of your business, including:
Enhanced customer service and technical performance
Reduced operating expenses
Increased revenue
Displaying customer service QR codes on signage throughout your facility provides instant assistance onsite, giving your visitors immediate access to a digital FAQ menu.
Deploy Solutions Intelligent Enough to Manage Parking
Multiple solutions can be implemented into airport parking facilities of all sizes that can further enhance the visitor experience as well increase overall operational efficiencies, including:
Innovative technology integrations are the way forward to improve revenues and cost efficiencies at your facility.
Smart Access Control
Smart access control using QR codes, barcodes, RFID or Bluetooth low energy (BLE) readers accessible on a mobile app is the way of the future. This simple integration enables a pre-payment option for your visitors without the added cost of installing new technology.
Mobile Scan-to-Pay
App-free mobile scan-to-pay can be integrated on both gated and non-gated systems, creating a touchless payment experience for your visitors. Enabling Euro Mastercard Visa payment acceptance on all of your devices and applications ensures you comply with the latest payment card industry requirements for all payments being made at your facility.
Accessibility
At the forefront of any successful airport, parking operation is accessible design. Abiding by the following Canadian Standards Association (CSA) requirements will ensure all visitors can access and use your facility with ease:
CSA B651-18: Accessible Design for the Built Environment
CSA B651.2: Accessible Design for Self-Service Interactive Device
To ensure all of your visitors can pay for parking quickly, there are four accessibility enhancements to consider: full-touch and interactive display screens, contactless payment options, assistive software additions, and easy-to-read, visible signage.
Enforcement
License plate recognition (LPR) enforcement improves accuracy and reduces dispute rates. Utilizing enforcement by mounted vehicle camera or by foot lets the technology do the heavy lifting:
Records and associates license plates with vehicle image to violation
Improves patrolling accuracy, reduces disputes
It eliminates the need for patrol officers to verify license plates manually
Automatically accounts for "special rules" associated with permits
Dynamic Pricing
Integrations such as parking guidance systems with camera technology can be used as an outlet to introduce dynamic pricing models based on occupancy data based on:
Time of day
Date/time of year
Customer type
Parking stall location
Business Intelligence & Data Collection
If you do not have access to real-time parking data, implementing smart technologies such as parking access, revenue control systems, license plate recognition, and parking guidance systems will allow you to fuel future growth. Real-time data and analytics can help you draw conclusions about your operational performance and give you an inside look at key performance indicators (KPIs) such as parking occupancy, payment methods, and revenue streams.
Curbside Management and Monetization
Business intelligence and data collection is the starting point for curbside management and monetization. It allows you to:
Gather data required to make inventory decisions
Decide how to attract and monetize pick up and drop-offs
Allocate, manage and control the curb for
Optimized mobility, safety, access
Offload non-curb traffic to parking lots
Enhancing Parking Management Services with Technology
Utilizing multi-platform integrations allows you to connect the visitor journey at every touchpoint-- from the moment they park to when they arrive at the gate. But it doesn't stop there. Using creative thinking to enhance your parking with last-mile solutions such as care services, vending machines, events, and more will ensure your facility is securing additional revenue streams beyond parking. Leveraging full-power marketing allows you to increase reservations and short-term parking using:
Search engine optimization (SEO)
Pre-book online sales
Loyalty programs
Online advertisements
Online maps and in-car navigation
The Questions You Should Be Asking
Now that you are aware of how you can enhance traditional parking management services with contemporary technologies, there are a few questions to consider before you do so.
To ensure that your airport parking management strategy is set for success, it is important to consider the management, hardware, and software possibilities that will allow you to get the most out of your operation:
What am I doing for revenue generation that also satisfies end-user experiences?
Are gates suitable for my parking lot?
Can I use BI to control onsite parameters?
If you couldn’t attend Precise ParkLink’s recent webinar discussing The Ultimate Comeback for Profitable Airport Parking Management, not to fret! Watch the whole discussion below!
About Precise ParkLink
CANADA’S PARKING INDUSTRY LEADER FOR MORE THAN 30 YEARS.
When Precise ParkLink was founded more than 30 years ago, the company was a two-person field operation with a simple aspiration: to make a difference in the world of parking automation.
Since then, Precise ParkLink has grown into a nation-wide managed services and technology firm with more than 700 employees across Canada, a head office in Toronto, and 13 supporting offices across the country.
But what sets us apart from other parking operators isn’t where we are, it’s what we are: a full-service parking solutions provider. One source for all your parking-related needs.
Precise ParkLink manages thousands of parking lots on behalf of hundreds of property owners. We supply cutting-edge technology and services to thousands of clients in the healthcare, municipal, commercial, institutional, and private sectors.
Being a vertically integrated company puts us in a unique position. We can provide a level of management and technical integration that is best-in-class. Just ask the hundreds of clients to whom we’ve delivered cost-effective and customer-focused solutions over the years.