Airport parking operations are swimming in valuable data but may not know how to use it. Since customer data collection is relatively new to the parking industry, airport parking operations may not have a good grasp on how to best utilize the data captured within their own parking facility.
How Customer Data is Collected
Opportunities to collect data in the parking industry have expanded with the increase of parking online reservation systems and mobile payments. First party data that is collected, stored and managed within an exclusive system can collect such customer demographics as name, address and contact information when using online parking reservation software. Beyond collecting basic demographics, utilizing loyalty software programs can collect even deeper customer data including customer preferences and buying behavior. Both of these components used together within a parking reservation system provide the best possible customer data.
We need only look as far as airlines and hotels to see a great example of how this valuable customer data is mined and used to increase revenue. For years, airlines have collected and successfully leveraged customer data but it is commonly known that airlines are unlikely to share or collaborate the data with airports. Now airport parking operations have their own powerful data and can use the same strategy. Here’s how:
Yield Management is a flexible pricing strategy that utilizes customer data to gather, track, analyze, forecast and influence customer behavior for the sake of maximizing revenue. The mantra of yield management is to sell the right product (parking) to the right customer at the right time at the right price, all made possible by the use of historical customer data.
Marketing tactics such as email campaigns, social media and mobile can now be tailored to a customer’s preferences and buying behaviors, thanks to customer data. A customer profile gives airports the ability to personalize and track parking offers, up-sell ancillary services and track the offers on multiple channels, generating higher ROI.
Customer data also impacts airport parking operations. By tracking parking reservation trends based on factors such as seasonality, weekends, weekdays, times of day, a parking operation can maximize staffing and parking space inventory allocation and forecasting. Airports can also inform parkers in real time when their lots are at capacity and refer them to different locations.
Enhance Customer Experience
Customers today enjoy, even demand, a personalized experience. This is now made possible by customer data. For example, a customer’s parking preferences and ancillary service purchases can help the parking operator to anticipate the customer’s needs and wants based on data, removing all guesswork. All of this working together delivers an excellent customer experience, to surprise and delight the customer, increasing their loyalty to your operation.
Finding a Parking Reservation System
The most sophisticated parking reservation software systems not only collect customer data but also provide metrics and reporting to allow airports analytics needed to optimize revenue. And because parking analytics should be in real-time, just as customers operate in real-time, a parking reservation system should be capable of processing analytics in real-time to generate valuable and useful metrics instantly.
Parking technology at this level of sophistication combines reservation software, robust reporting and customer data collection capabilities. While there is a plethora of parking reservations systems to choose from, not all of these solutions are created equal.
The most effective parking management software that is optimized for airports should contain at a minimum these features:
- Real-time central reservation system for data gathering
- Omni-channel capability to allow for channel management, reporting and segmentation
- Real-time reporting
- Loyalty program for added data
- Logical user interface system
It is critical for an airport to carefully select a software provider that will ensure the most comprehensive system to assist in successfully leveraging customer data.
About Parking Reservation Software
Parking Reservation Software is a scalable parking software solution for privately owned or government entity parking operations. Built to help operations run smoothly, increase reservations through marketing services, and enhance customer experience, Parking Reservation Software is a plug-and-play, real time, comprehensive solution for any size parking operation. See more here.