Reigate and Banstead BC sees Savings and Additional Income of over £120,000 with help of RingGo
Faced with a need to save money and generate new income, Reigate and Banstead Borough Council set out to see if changing people’s parking habits could help contribute to the council’s ambitious financial targets.
Like many councils, R&B BC were facing a significant financial challenge. Their central government funding will ultimately be removed completely and as a result they have an ambitious aim to become a financially self-sufficient council by 2020. This means they needed to find innovative and creative ways to save money and generate income, while protecting frontline services for residents. They decided to explore whether they could make savings by encouraging more people to use RingGo, their cashless parking provider.
They started by using Mosaic data to profile their customers, looking at their driving habits and mobile phone usage. The research indicated that a high proportion of their customers would be willing and able to use smart phone technology so they were confident that they would be open to using their phones to pay for parking. A campaign was created to raise awareness of the smart phone parking payment model to increase uptake across the borough.
The solution success far exceeded their expectations generating more than £125,000 in savings and additional income. This includes a £64,000 saving due to the reduction in the number of cash machines needed in car parks, £5,680 saved by a reduction in the levels of cash processing required, and interestingly, an increase in the length of time people were parking their cars for, creating an increase in income of £56,000.
Considering they started with a budget of just £3,000 to deliver all of this activity, this work recorded a return on investment of 1:46 – money than can now be reinvested back into protecting frontline services for residents. What is more, savings and income generation from this campaign are expected to continue into the future.
Furthermore, the success of this project led to Reigate & Banstead winning the highest allocolade at the LGCommunications Public Sector Communications Excellence Award, receiving the Platinum award for their work with RingGo.
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