A guest post by our friends at CoWello
Do you have any empty desks at your coworking space?
Are you looking for ways to draw in more members?
Unless you’re the only coworking space in your area, you’ll need to identify what sets you apart and communicate that value to your desired customers. In this blog post, we’ll offer key strategies to help you attract more members and grow your space, using the power of your differentiators.
This blog is part of a larger growth program, created by our coworking space and member management tool, CoWello. Pro users get access to a free 30-day growth challenge, where they learn how to overcome five main enemies to growth: lack of differentiation, a narrow target market, high overhead costs, limited scalability, and a limited budget for marketing.
It’s such useful information for coworking businesses, we’ve partnered with Cat to provide you free access to a guide for overcoming the first enemy of growth: lack of differentiation. Read on to learn how you can use your key differentiators to increase membership and grow your coworking space.
What are the benefits of differentiating your coworking space?
Have you ever heard the saying, “When you speak to everyone, you speak to no one?” Differentiation is a great way to attract your target customers—whether that’s tech startups, health and wellness enthusiasts, parents, or freelancers—and increase the chances they’ll choose you over your competition. When you tailor your offerings to a specific group of people to give them an extra-special experience, you’ll stand out from the crowd.
Everybody wants to feel special, valued, and appreciated. You can enhance customer loyalty through differentiation by making them feel as if they have a unique experience with your offering. After all, coworking is all about creating a vibrant, welcoming, and inclusive community. So, what should you focus on to achieve that?
✔️Attract your target market
✔️Improve your marketing efforts
✔️Enhance your customer loyalty
What can you do to make your space stand out?
There are many strategies you can use to differentiate your coworking space. Here are 15 ideas to get you started:
- Unique amenities: Make your space stand out with unique amenities such as standing desks, private phone booths, or wellness rooms.
- Specialized services: Tailor your services to a specific target market with offerings such as on-site IT support, mail and package handling, or virtual office services.
- Themed spaces: Create a specific atmosphere with a tech-focused or eco-friendly environment.
- Niche programming: Bring in customers from specific niches with workshops for startups, networking events for women in business, or educational events for freelancers.
- Community building: Foster a sense of community with social events, happy hours, and other opportunities for members to connect.
- Green initiatives: Attract eco-conscious customers with recycling programs, energy-efficient lighting, and environmentally-friendly products.
- On-site childcare: Make your space family-friendly with on-site childcare services.
- Fitness center: Appeal to health-conscious customers with a fitness center or wellness area.
- Outdoor space: Offer a unique working environment with a courtyard, garden, or rooftop deck.
- Food and beverage options: Give customers convenient access to food and drinks with a coffee bar, snack bar, or restaurant.
- Location: Choose a location that is easily accessible and convenient for your target audience.
- Parking and transportation: Make it easy for customers to commute with convenient parking options or transportation services such as shuttle buses or bike storage.
- Security and privacy: Attract customers who value security and privacy with increased measures and options.
- Technology: Make your space attractive to tech-savvy customers with state-of-the-art technology and equipment, such as fast internet speeds, smart devices, and virtual meeting capabilities.
- Personalized service: Give customers a more personalized experience with dedicated community managers, personal concierge services, and customized office space solutions.
Duplicate this table to help you identify your “white space”. What does that mean? It is everything that sets you apart from your competitors and gives you a unique position in the market. Take a look at your competitors and rate them on a scale from one to five for each differentiator. A score of one means that they don’t offer it, while a score of five means that they are well-known for said differentiator in your area. And don’t forget to rate yourself in the last column! See where you can find your competitive advantage—areas where your competitors are weak and you are strong, or where everyone is weak and you can take the lead. Have fun exploring your options!
You’ve identified your unique value, now what?
Now that you’ve identified where you are differentiated, how do you use this information effectively to attract members? You know that simply listing your differentiators isn’t enough—you need to communicate them to your target audience and provide a compelling offer to draw people in. Here are a few strategies to help you get started:
- Highlight your amenities and services: Showcase your amenities and services on your website, social media, and other marketing materials. Give potential customers a tour of your space to really show off your differentiators. Be sure to lead with the value of these “features” first–then offer them as a solution.
- Develop a strong brand identity: Create a logo, tagline, and visual elements that reflect your brand and make you stand out from the competition. Use these elements consistently across all of your marketing materials.
- Network with your target audience: Attend events and networking opportunities to meet potential customers and show them your space. Build relationships and let them know about your unique offerings.
- Offer promotions and discounts: To entice new customers, offer special promotions and discounts on membership fees or free trial days.
- Partner with complementary businesses: Partner with other businesses that serve your target audience and offer complementary services. For example, a wellness program could partner with a local gym to offer discounts to each other’s customers.
- Leverage online reviews: Ask customers to leave positive reviews on sites like Yelp, Google, and TripAdvisor, and respond to both positive and negative reviews in a professional and helpful manner.
- Host events: Host events and workshops that showcase your differentiators and draw in potential customers. Offer these events for free or a small fee to encourage attendance.
Differentiation is a key factor in helping your coworking space stand out and attract your desired target audience. By taking advantage of unique amenities, specialized services, and tailored programming, you can create an inviting environment and create a thriving community. And by developing a strong brand, taking advantage of networking opportunities, running promotions, creating partnerships, and cultivating online reviews, you can further increase membership and drive growth and success for your business.
👉 If you’re interested in finding out how to overcome the other top growth obstacles keeping you from scaling your business, check out CoWello, a coworking space software designed to not only help you manage your space and members, but also grow your business.
💸 This month, we’re offering Cat readers a special 50% discount on the first three months of CoWello when you attend one of our group demo sessions. Don’t miss out on this amazing offer—we look forward to hearing from you soon!