Consultancy on car park pricing policies
Consultancy on parking pricing policies
Yield & Pricing expertise serving the parking actors
To implement a new parking pricing policy is often seen as a real challenge for parking operators whose objectives are sometimes numerous and contradictory: customer satisfaction, revenue optimization, car park attendance (number of vehicles), car park occupancy, market shares, etc.
Kowee teams are often asked for help and often solicited for consultancy on car parking pricing policy related topics such as: how to optimize an existing pricing structure (price points)? how to anticipate the market reaction towards price changes? how to deal with new competitors and react to their business moves? how to build a parking budget based on parking demand forecasts? what are the additional revenues to expect after a pricing policy change, etc.
Professional services
Yield solution implementation
Before implementing Kowee dynamic pricing solution (K-Yield), Kowee data scientists run a number of workshops with the customer team to properly define the Yield strategies.
This implementation phase lasts a few weeks to make sure the local competitive environment is properly taken care of, together with the sales strategy to develop towards the various customer segments / various products. At the end of this phase, gain estimates are projected over a future 12 months period, taking into account the new dynamic pricing that will be applied.
In parallel, technical works are run to put in place the various APIs between Kowee system and the third party systems.
Yield Management Outsourcing
Act as a Yield Manager “on behalf of”.
Kowee team is composed of business analysts and data scientists whose expertise in running parking Yield Management policies is very advanced, considering the number of situations they have faced.
This is why we now propose, as an option, the service of acting as a Yield Manager for our customer. It can for example be the case of an airport whose internal resources may not be sufficient at the moment of K-Yield implementation but still willing to put on-line dynamic prices in place.
The responsibility of the yield strategies definition remain of course of the customer’s, but all the analysis and recommendations are performed by Kowee team. Weekly or bi-monthly meetings are held to discuss the various options, prepare special events, assess the recent past results, etc.
Usually, this transition period lasts between 4 and 12 months.
Consultancy on car park pricing policies
Help review pricing policies
Kowee team is composed of business analysts and data scientists whose expertise in running parking Pricing policies is very advanced, considering the number of situations they have faced.
In parallel with (or preceeding) the implementation of Kowee solutions, we propose our services regarding any parking business related issues that our customer would like us to study. This usually covers the following aspects:
- Design of drive-up pricing policies in order to maximize car park revenues or increase the rotation factor (number of customers)
- Elaborate specific pricing policies so as to ensure a full multi-carpark pricing consistency (case of airports with several car parks and possible capture / recapture)
- Counter pricing policy versus new competitors proposing agressive prices
- Modelling of the impact of new infrastructure on the market (considering existing pricing policies and car park capacity variations)
- etc.