Parking Issues Are Bad for Business — and Customers
Around the world, if there is parking, there are parking-related issues to address.
Parking problems can range from a lack of parking rule enforcement or unclear rules and regulations to poorly designed parking assets and an accompanying lack of available parking spaces. These parking problems can create big headaches for operators and patrons alike. Resolving these issues can increase customer satisfaction and revenue for operators.
The first step to solving your parking issues is identifying the root cause of any slowdowns or inefficiencies within your parking asset. We will explore common parking issues and how to manage parking problems.
4 Top Parking Issues (and Solutions) in 2024
Some of the most common parking problems companies and municipalities face include a lack of payment options, traffic bottlenecks in and around parking assets, lack of insight about available parking spaces, and inflexible parking rates. Fortunately, once these issues are identified, they can all be solved.
Lack of Payment Options
A lack of payment options can be troublesome for a parking asset, leaving it stuck with old methods such as SMS pay or paper cash. Parkers have to guess how long they intend to stay parked, leading to overpayment or tickets for the consumer. Old-fashioned payment can also lead to slow parker entry and exits, costing operators time and money.
An easy way to solve this issue is to implement technologies such as Mobile Point-of-Sale (mPOS) and contactless payments. These technologies handle every payment type, from cash to card (NFC, EMV, Mobile Wallet, etc.), pass validation, and more. Contactless payments and mPOS technologies speed up payments, lot entries, and exits, allowing your lot to run more smoothly.
Traffic Bottlenecks
Traffic bottlenecks can harm your parking assets, resulting in lost efficiency and potential business. Slow traffic flow is often due to human operators manually handling processes and operations, such as entries and exits.
An easy way to address traffic bottlenecks is to implement software that eliminates manual parking space counts and detects invalid passes. The Iowa Hawkeyes implemented ParkHub’s software, allowing 1,454 vehicles to be parked during the busiest hour, translating to one car every three seconds.
No Insights About Available Spaces
One prevailing issue in many parking assets is a lack of insight into parking space availability for both the parkers and operators. This issue can cause customers to circle assets looking for parking spots that might be unavailable, an overall frustrating experience. Operators face lost revenue when they can’t let parkers know there are open spaces or where they are.
The best solution to this problem is to integrate parking data with popular parking apps so customers can pay for and reserve spaces ahead of time. This solution lets customers know exactly where they’re going when they go to park. With its software, ParkHub offers numerous integrations in the parking sphere, ranging from ParkMobile to Paciolan to Ticketmaster.
Inflexible Rates
The final top parking issue is inflexible parking rates, which can lead to lost revenue from people willing to pay more at high-demand times such as athletic events. Inflexibility can also lead to overcrowding in parking assets at peak times and turn potential customers away with high prices during off-hours.
The most effective solution to allow for flexible parking rates for your assets is to implement ParkHub’s Automated Yield Management (AYM). This system allows operators to maximize revenue during peak hours while not overcharging parkers during times of low demand.
Industry-Specific Parking Issues
There are many sectors and niches within the larger parking industry, and each has its own set of wants and needs to serve its customers and patrons best. Universities, sports and entertainment sectors, municipalities, and commercial real estate companies all have unique, industry-specific parking issues.
The primary challenges universities in the US encounter with parking involve locating available spaces in congested areas and insufficient connectivity. The University of Notre Dame faced many of these issues. By using ParkHub, the university was able to transition to a cashless payment system and integrate different parts of its parking and ticketing systems.
Notre Dame used real-time data to optimize parking operations, accurately predict traffic flow, and ease operator staffing. Switching to a prepaid and cashless parking system allowed parkers to navigate to specific spots.
The main issue that the sports and entertainment sector faces is managing huge crowds, often across multiple parking facilities. AT&T Stadium used ParkHub to help navigate times of high parking demand during big events.
AT&T Stadium used Mobile Point-of-Sale technology (mPOS) to streamline entry payments into its parking assets and into the stadium, making ingress and egress more efficient. AT&T Stadium also prevented the entry of 600 invalid parking passes, protecting nearly $75,000 during the stadium’s first three ParkHub-managed events.
Cities and municipalities wrestle with issues related to forecasting, planning, and ensuring parking availability. The city of Boulder, Colorado, used ParkHub’s Smarking platform to solve all three of these issues.
With Smarking BI, Boulder could access historical and current parking data to make informed decisions about parking management. A holistic view of parking patterns lets municipalities best prepare for the future, guided by past trends.
The commercial real estate market faces two challenges: boosting profits and ensuring a better shopping experience. Zeller, a Midwestern real estate firm, used Smarking to monitor cars and analyze data about long-term trends.
After implementing Smarking in Zeller’s parking assets, Zeller saw a 70% year-over-year transient revenue uptick at their LaSalle Plaza venue, corresponding to a $220,000 yearly revenue increase from this one parking asset. The tools Smarking offers can be used for a wide range of assets in various parking industries and niches.
Discover the Power of Parking Operations Software
Unlock the potential of parking operations software and transform how you manage parking spaces for better profitability and enhanced customer satisfaction.
ParkHub offers innovative solutions that streamline operations, enabling you to make informed, data-driven decisions. By leveraging detailed insights, you can plan strategically for the future and maximize the return on investment for every parking spot.
Experience the difference firsthand and discover how ParkHub can revolutionize your parking management. Ready to see it in action? Visit ParkHub and book a free demo today to see our software work wonders for you in real time.