As Coworking spaces grow more popular, competition in this market is on the rise. If you run such a business, your marketing strategies need to be as agile and flexible as the services you offer. A targeted blend of email marketing and social media marketing can help you attract new members, retain existing ones, and drive repeat business. Let’s delve into some specifics.
Embracing the Power of Email Marketing
In an era where instant messaging and social media seem to reign supreme, you might think that email is a thing of the past. But it’s not! There are over 4.5 billion email users worldwide. Moreover, according to DMA, every $1 you spend on email marketing can fetch you an average return of $42.
Email Marketing Strategies for Coworking Spaces
Welcome Series for New Members
Once a new member signs up for your coworking space, an automated welcome email series can be a powerful tool for both building a relationship and maximizing your service’s utilization. These emails could cover:
- A warm welcome message that reinforces the benefits of coworking and the community you’re building.
- Detailed information about amenities and features of your space – meeting rooms, dedicated desks, printing facilities, coffee lounges, etc.
- Introduction to community events and networking opportunities.
- A simple ‘how-to’ guide on booking facilities or using your coworking space’s software.
- Suggestions for getting involved in your coworking community, such as joining a lunch-and-learn session or participating in member-led workshops.
This approach not only helps the new member get acquainted with your coworking space but also conveys that you are invested in their success and satisfaction.
Regular Newsletters for Existing Members
Keeping your members informed about the happenings within your coworking space is crucial for engagement and retention. Regular newsletters can share:
- Updates on upcoming events, workshops, or member-exclusive benefits.
- Success stories or spotlights on current members. This can double as a networking tool, allowing members to better understand the professionals sharing their workspace.
- Feedback surveys or open-ended questions to show members their opinions are valued. This can also provide you with actionable insights to improve your space.
Special Offers and Referral Incentives
Email is a great medium to promote special offers, loyalty discounts, or referral programs. Offering existing members incentives to refer their contacts can bring in new business. Simultaneously, discounted membership extensions or add-on services can encourage existing members to continue using your coworking space.
Expanding Your Reach with Social Media Marketing
If email marketing is the tool for nurturing existing relationships, then social media marketing is your megaphone for reaching new audiences. Coworking spaces, with their vibrant communities and aesthetically pleasing setups, lend themselves perfectly to platforms like Instagram, LinkedIn, and Facebook.
Social Media Strategies for Coworking Spaces
Building a Visual Brand on Instagram
Instagram is a highly visual platform, ideal for showcasing your coworking space’s physical appeal. Here, you can share high-quality images of your stylish interiors, communal areas, private meeting rooms, or even your well-stocked coffee bar.
Additionally, Instagram stories provide a more informal and engaging way to share the daily life of your coworking space, such as members collaborating on projects, networking events, or fun moments.
Engaging Professionally on LinkedIn
As a platform for professionals, LinkedIn can be an invaluable tool for coworking spaces. You can use LinkedIn to post thought-leadership articles on the future of work, productivity tips, or the benefits of coworking. This helps establish your brand as an authority in the coworking industry.
Additionally, encouraging your members to list your coworking space as their workplace not only validates their presence but also indirectly markets your space to their professional network.
Creating a Community on Facebook
Facebook’s group feature allows you to create a digital extension of your coworking community. Here, members can network, share resources, or discuss ideas outside of office hours. It also gives potential members a glimpse into your vibrant community, serving as a compelling marketing tool.
BONUS: Copy Some Marketing Ideas From Your Competitors
Here are several real-life examples of coworking spaces that have used creativity and innovation to effectively market their businesses:
- WeWork’s “Do What You Love” Campaign: WeWork, one of the biggest names in the coworking industry, launched a social media campaign with the tagline “Do What You Love.” The campaign included videos of successful entrepreneurs sharing their stories, thereby associating WeWork with the entrepreneurial spirit and success. They encouraged their members and followers to use the hashtag #dowhatyoulove, fostering engagement and amplifying their reach.
- The Wing’s Women-Centric Approach: The Wing distinguished itself by creating coworking spaces exclusively for women. They used social media marketing to highlight their strong focus on supporting women entrepreneurs and professionals, and hosted events featuring prominent women from various fields. By targeting a specific demographic and aligning with women empowerment, they managed to carve a unique niche.
- Impact Hub’s Storytelling: Impact Hub, a global network of coworking spaces, utilized storytelling to make an impact. They regularly featured stories of their members and their journeys, creating a sense of community and showcasing the diversity of professionals that use their spaces.
- Spaces’ “Art of Work” Event Series: Spaces, another leading coworking brand, organized an event series called “The Art of Work”. The events included panel discussions, workshops, and networking sessions that provided valuable content to their audience while subtly promoting their coworking spaces.
- Workbar’s Local Partnerships: Workbar, a Boston-based coworking space, formed partnerships with local businesses to provide exclusive benefits to its members. Not only did this add value to their membership, but it also created opportunities for cross-promotion with other businesses.
- Hera Hub’s Expertise Sharing: Hera Hub, a spa-inspired coworking space for women, utilized the power of expertise sharing. They regularly held “GURU hours,” where industry experts offered free consultations to members. This strategy highlighted their commitment to supporting their members’ growth and success.
- Serendipity Labs’ Virtual Tours: To give potential members a feel of their space without visiting in person, Serendipity Labs offered virtual tours of their coworking spaces. They used 3D technology to create immersive, interactive tours, setting them apart from competitors.
- Industrious’ Member Spotlight: Industrious used a “Member Spotlight” series on their blog and social media platforms. By highlighting the accomplishments of their members, they managed to create a sense of community and demonstrate the value of networking within their spaces.
Supercharge Your Coworking Space Business with TeamWave
Managing a coworking space involves juggling a variety of tasks, from member management to facility operations, event planning, and everything in between. Streamlining these tasks is crucial for your success. TeamWave, an integrated business management platform, offers a solution, helping you manage your coworking space efficiently. Here’s how:
Superior Member Management with CRM
In a coworking business, your members are your key stakeholders. With TeamWave’s CRM system, you can manage all member interactions, transactions, and track their membership plans with ease. This enables you to provide personalized service, manage renewals, and keep tabs on member usage patterns, leading to improved member satisfaction and retention.
Streamlined Facility Operations with Project Management
Managing your space, organizing events, handling maintenance – all these can be easily overseen using TeamWave’s Project Management feature. You can create different projects for each of these tasks, assign responsibilities, set deadlines, and monitor progress in real-time. This ensures effective coordination and timely completion of all tasks.
Efficient Staff Management with HR Tools
TeamWave’s HR Management feature helps manage your staff effectively. It enables you to track employee data, manage payrolls, and even handle recruitment processes. This simplifies the HR aspect of your business, giving you more time to focus on your members and their needs.
Paperless Agreements with eSignature
From membership contracts to vendor agreements, paperwork is a constant in your business. TeamWave’s eSignature feature accelerates this process by making it digital, saving time, reducing errors, and lowering your business’s carbon footprint.
TeamWave: Unbeatable Value Proposition
The integration of CRM, Project Management, HR Management, and eSignature under one roof makes TeamWave an unrivaled tool for your coworking business. Not only does it save you the hassle of dealing with multiple platforms, but it also offers significant cost savings with its competitive pricing model.
When it comes to marketing your coworking space, remember that your goal isn’t just to sell desks, but to build a thriving community. Using email marketing, you can maintain strong relationships with your existing members. Meanwhile, social media allows you to reach new audiences, showcasing the tangible and intangible benefits of being part of your coworking space. By effectively utilizing these tools, you can ensure your coworking space stands out in this competitive market.