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Our customers largely no longer work from traditional office spaces; they attend classes virtually; there are new regulations related to mass transit, travel, events, and eating; and a lot of people don’t work a traditional Monday - Friday, 9-5 schedule anymore. We must come up with new innovations that can address our customer’s needs and realities. from day one. It costs more to acquire new customers than it does to retain your existing. Both customer support and customer success teams help to retain customers. ■ Waiting too long before charging for your product/service. Charging early on and accepting pre-orders can help differentiate the tire kickers from the qualified prospect. ■ Not charging enough for your subscription. The value of your product should match your price. ■ Analysis paralysis. Avoid overthinking something so much that you are unable to decide or take action on it. Do not be so focused on getting the pricing, features of your product, website, etc., so “perfect” that you delay the launch. ■ Aways saying yes. Focus on quality over quantity. Do not jump the gun to satisfy one or two customers. As you grow, you will be able to add well-thought-out features that are easy to use and enhance the overall customer experience.
All That Remains
All that remains is deciding where and how to adopt a subscription business model within your parking organization. Maybe you would benefit from:
■ Monthly parking subscription based on the number
of days parked. Customers are no longer working Monday to Friday, 8-5. A subscription model that allows a parker to have an adjusted rate to park two or three days a week might make sense. ■ All-access pass subscription that provides customer access to the entire inventory of parking options within a particular area/city/region that can be used as they need. ■ Frequent customer subscription for those customers who are more than just one-time customers, but not quite to monthly or VIP status, to gain the larger discount.
Whatever subscription model you choose, remember that it is better to be the one initialing change using free will rather than being driven by a negative path or influence. When creating your program remember K.I.S.S. (keep it simple, stupid). Make the most of change to stay one step ahead and prepared for the future. ◆ KATHERINE BEATY is vice president of implementation with TEZ Technology. She can be reached at email@example.com.
PARKING-MOBILITY.ORG / AUGUST 2021 / PARKING & MOBILITY 45