Generating Additional Revenue through Networked Innovation
Parking Terminals – Generating Additional Revenue through Networked Innovation
The role of parking terminals is changing. Where once, the sole purpose for on-and-off street technology was the efficient processing of payments and the collection of data to define parking strategy, now terminals are increasingly seen as means of generating revenue over and above parking charges. In effect, they are becoming a new marketing channel – and a means of delivering an ever-wider range of services.
Among those companies leading the way is Parkeon, which has transformed its Strada on-street terminals into multi-services kiosks. StradaPAL terminals can become a networked resource for services such as environmental monitoring, or function as hyper-local retail hubs to offer town and cities an innovative means of boosting economic activity.
“First and foremost, our focus remains on parking payments and traffic management, but we also see the potential for our terminal technology to go way beyond this remit and become a key contributor to local economies,” says David Lloyd, Parkeon Marketing Manager. “In short, we believe there is a significant opportunity to increase the interaction between a local authority and its communities through our on-street architecture.”
City Connector is one such initiative that the company is operating in partnership with MasterCard, utilising terminal colour touchscreen technology and internet connectivity to create retail hubs that can provide pedestrians and parking customers with free print-on-demand discount vouchers for shops and restaurants or special promotional offers for local attractions.
The scheme first appeared in Las Vegas but is now being piloted in the UK in Plymouth. Overall experience so far shows redemption rates for coupons very high in areas immediately adjacent to each kiosk, opening up opportunities for hyper-local campaigns – generating revenue for retail outlets and attractions and for the local authority partners.
For consumers, no registration or sign-up process is needed, which makes voucher selection and printing quick and easy for passing footfall and for motorists.
“The Parkeon scheme allows us to give businesses the chance to run promotional campaigns on parking terminals where there is a high turnover of vehicles – providing a low-cost opportunity for them to build their trade,” says Darren Stoneman, Senior Community Protection Officer, Plymouth City Council. “The feedback has been very positive both from retailers and consumers - there’s a really positive vibe around the scheme.”
City Connector is just part of what Parkeon predicts will be a rapid expansion of terminal-based services to drive new revenue opportunities.
Previously, parking hardware may have been used to provide services such as transport ticketing, but Parkeon now has the capability to develop new terminal-based applications for an ever-wider range of services in areas such as retail, public information, transport applications and environmental monitoring. City Connector is a good example of how this partnership approach is taking terminal-based functionality to a new level through networked connectivity.
“All this opens up new opportunities for revenue generation based on local needs,” says David Lloyd. “We are now able to use existing on-street architecture to deliver innovative services to communities without the need for huge additional infrastructure investment.”