Looking to grow your coworking space?
Scaling your business can be challenging in a competitive market. Follow the steps below for industry-leading insight or download the full guide.
9 steps to Scaling your Coworking Brand
"Tools that enable mobile lead management are essential"
"Operators need to be flexible for members’ ever-changing needs"
"Understand what your members want from your space"
1. GENERATE THE RIGHT DEMAND
In today’s market, there’s increasing demand and plenty of supply for coworking and flexible workspace. Knowing where and who you’re marketing to is vital to drive the right demand.
Are you getting your business in front of your target market? Beyond that, do you have effective systems and tools in place to capture and manage leads from various channels?
2. WORKSPACE TOUR EXPERIENCE
Having a process in place to promote tours and manage bookings will facilitate the process and result in greater business opportunity. The tour is your opportunity to impress the prospect with your space and seal the deal. Remember, follow-up is key. Do you have the workflows, tasks and reminders in place to maintain contact with the prospect?
3. SALES PIPELINE FOR GROWTH
The goal is to drive a revolving door of revenue opportunity while building lasting relationships with your prospects and customers.
If you have investment, you’ll need to demonstrate occupancy rates and a growing pipeline. Your sales cycle and CRM tools should be effective in nurturing leads, closing deals and driving the right amount of business to stay competitive.
4. ONBOARDING NEW OCCUPIERS
The key here is to get new customers setup to work, quickly and smoothly, with the right user profile and license agreement in place.
Integrate the multiple and dynamic aspects of a flexible working environment to keep track of renewal dates and rates, keeping it hassle-free and flexible for your customers. Enable them with quick-click service activation and access to an on-demand marketplace that enriches their member experience.
5. CUSTOMER MANAGEMENT
Managing customers can be a challenge without the right CRM system in place. Establish user profiles, foster community with a member directory and keep on top of renewal dates to ensure customer retention.
Build trust among your members by dedicating time to building a community, hosting events and communicating effectively with them.
6. SERVICE DELIVERY
The crux of a flexible workspace business, after the space itself, is technology services.
Delivering secure, compliant and reliable technology services is a deal breaker for today’s occupier – especially the corporate segment of the market.
Get this part right with customers and remove complexity from the operational side of it with the right technology platform.
7. ENRICH THE MEMBER EXPERIENCE
There is no shortage of supply of workspace in today’s market, which means coworking operators are competing to secure occupiers.
Going above and beyond offering a mere workspace, is a stark differentiator among providers. For the best member experience, think slick, friction-free, and how to integrate the physical and digital environments.
8. BILLING & INVOICING
Financial operations can be cumbersome and complex for a flexible and dynamic business model such as coworking.
Seamless booking, buying and billing is the flex-space utopia that can be achieved via automation, self-service and integration of the right platforms.
Today’s occupier expects visibility, transparency and ease of payment for a slick experience.
9. CASH COLLECTION
We live in a digital world. Recurring electronic payments are a way to guarantee payment while also ensuring a seamless and friction-free experience for your members.
Integrating with payment gateways is essential for collecting cash and avoiding risk. Full cycle integration with your booking system allows for accurate reports, keeping your business in good health.
