If you own or manage a coworking space, then you are certainly familiar with the struggles of managing the multiple aspects of the business. Small budgets and endless task lists often means you have to stick to the essentials. That can be truly challenging… However, choosing the right strategy could be decisive to grow your coworking space.
Don’t try to push your limits and do the impossible. Instead, invest your resources in the tasks and procedures that can make a difference. Prioritize, strategize, and always remember that happy customers are the key to success, at short and long term.
Entreprov has extensive experience working with coworking space clients all over the United States of America. Therefore, we have selected three key strategies to help you achieve success and grow your coworking space. It’s all about optimization and segmentation.
Optimize & Automate Your Sales Process
Any business can easily benefit from optimization and automation strategies. But coworking spaces can really maximize their profits by optimizing their systems and procedures. For starters, as a coworking space you should always be looking for new possible prospects while developing long-lasting relationships with your current members.
Don’t forget to innovate to keep up with other local coworking spaces, as well as your inventory management choices. You should provide features that allow your members to see the availability of your products and services in real-time. It’s convenient for you, your customers, and it can easily save you time and resources.
Depending on your competitors and fluctuating market trends, you should also adjust your price-quality ratio prices on a regular basis. This is one of the most effective strategies to organically grow your coworking space. You will be attracting newcomers while ensuring your current members won’t leave you for another coworking space.
You can go even further by automating your systems, especially when it comes to tour and membership sign ups. It will drastically reduce the required workflow and ensure your occupancy rates are as high as possible.
Moreover, automation tools can simplify the entire coworking experience for all your members, starting from day one!
Segmenting Your Contacts Makes a Difference
When you have a relatively small number of customers, things can be quite easy and straight-forward to manage. But what to do when your space starts growing? You shouldn’t be delivering the same type of content to everyone who visits your coworking space. Your customers have different interests, preferences, and habits. You shouldn’t ignore that!
Besides, it is almost impossible to understand what other services you could offer if you don’t know your audience well. Segmenting your contacts can help you better manage your coworking business. It can also help you deliver the right content to the right people and increase your chance to successfully cross-sell your services.
With segmentation strategies, you can create funnels with specific conditions that will easily allow you to define new goals. For example, you can find out who is really interested in a certain service by analysing the number of clicks in a campaign.
In the end, segmenting your contacts and email lists can really make a different. It allows you to learn more about your customers, while the quality of their journey is improved. After all, you can accurately provide added value and grow your coworking space that way.
Mastering the Follow-up Technique is Critical
How many people have shown interest in your brand lately? There are endless ways to interact and get tagged online and that can make things really chaotic in terms of follow-up procedures. Social media channels, review websites, local listing platforms, community forums… How to actually get back to people and turn them into customers?
Well, you should follow-up with anyone who could become a potential new member. But if you don’t have enough staff or resources to do so, then make sure to prioritize. Focusing on internal and direct interaction should be your first goal with follow-ups.
Email marketing campaigns can help you get familiar with your customers preferences. If you see someone clicking in your call-to-action buttons, then it probably means they are highly interested. So, why not add a personalized touch to you follow-up procedures and give them a call or drop an email?
Also, if some of your customers tend to open your newsletter emails, then you should probably create a separate funnel for them. This way, you can keep following-up and engage with them while not bothering everyone else who prefers not to click your emails that often.
Are You Unsure on How to Grow Your Coworking Space?
Developing and successfully growing a business is certainly no easy task. If you are not sure what strategy to use next for your coworking space, then feel free to get in touch with us. We can help you create an efficient engagement strategy for your business!
Increase your productivity and drive more revenue without adding more hours to your work schedule. Feel free to request a FREE trial to experience our engagement tools.