Coworking Spaces: 5 Strategies You Need to Test Out Today
Are you experimenting with coworking spaces and marketing strategies? Your competitors sure are! Learn how to stay competitive.
Photo by Shridhar Gupta on Unsplash
CoWorking Spaces and Marketing Ideas You Can Test
Did you know you can boost your coworking marketing strategies with marketing experimentation?
When practiced right, experimentation allows you to use your business’ data to increase conversion rates. Experimentation is a must in today’s landscape because it lets you win regardless of industry, especially with coworking spaces.
This is important as the global coworking space market’s compound annual growth rate (CAGR) has reached 18.9% having grown from $13.60 billion in 2021, then rising to $16.17 billion in 2022.
What this means is, the coworking space industry continues to grow because more people are working on-site since the COVID-19 restrictions have significantly loosened. As a result of this rise, your competition becomes more driven since they want their slice of the growing industry pie.
With this in mind, you now have a massive number of industry challenges to overcome. Because with more competitors in the market, your chances of getting more coworking members might be slim.
Fortunately, this article has prepared several game-changing strategies in the realm of marketing experimentation to help you out.
Benefits of marketing experimentation
As mentioned above, marketing experimentation has proven to drive results for businesses. Here are some benefits to look forward to for your coworking spaces:
Maximize results and minimize costs
Since experimental processes allow you to test new ideas and strategies, you can avoid making costly mistakes and improve the effectiveness of your coworking space’s future marketing efforts.
Develop sustainable business models
By conducting experiments for your coworking spaces, you’ll get a bird’s eye view of what strategies could reach conversions.
Since you’re trying out experimental processes in strides, you get to see if certain ideas work or not without having to spend too much time and resources on them and before your audiences see them.
Structure ideas and make them executable
Without a doubt, your mind has an ocean of ideas waiting to be unleashed. However, without something to guide these waves, you’ll be swimming in each of them sporadically—lessening their effectiveness.
Fortunately, you can take control of these ideas to structure them with experimentation. In doing so, these ideas are converted from abstract ideas into a coworking space strategy that will give your competitors a run for their money.
Continually find new ways to do better work
In the volatile world of digital marketing, a strategy that worked for years may not be the one to bring conversions. As a result, only those that conduct experimentation can actually survive the changes.
Should you need more options, go beyond what’s in here to discover ways to improve coworking experiences.
Digital marketing ideas coworking spaces owners can experiment with
Image by Tammy Duggan-Herd from Pixabay
The key to getting clients for your coworking spaces is through experimentation with a variety of different digital marketing strategies.
But which one should you start with?
Here are a few digital marketing ideas to help grow your coworking space:
1. Build online communities
Community management is the process of moderating and fostering your fans within an online community. By curating these groups of people, you’re improving your reputation as a business.
For your coworking space, an online community is a must because it allows members to connect to share information and discover potential collaborators to accomplish their respective goals.
Once they get these online goals, they’ll surely want to collaborate with their new-found associates to work inside your own coworking space. So be sure to make engaging posts that encourage members to communicate with each other.
To build an online community, understand why you’re doing this in the first place. Once you know why, create compelling content that’s sure to keep your clients interested. Don’t forget to interact with them, too!
Finally, remember to promote this community on various platforms like emails, social media, and more to grow your potential clients.
2. Conduct online webinars
Webinars, also known as online workshops, are seminars based on a variety of diverse topics, done over the internet. Since these seminars give value to people from around the globe, your coworking space market size potentially grows exponentially.
Online webinars should always begin by talking about relevant topics related to your industry. Research is key here.
A presenter profile is also important to show that you, or your chosen speaker, are qualified as thought leaders to give this talk.
Lastly and often an overlooked step in webinars is the follow up. Keep the conversation going by providing your listeners and webinar attendees with useful content they can check out either on your respective channels or theirs (emails, SMS, etc.)
3. Optimize local SEO
Local SEO is the process of converting your website into something more local-friendly for better search results.
The many benefits of local SEO help develop the right coworking marketing strategies that will surely help you convert. Once these strategies are implemented, watch as the people close to your coworking space then come to work there.
Begin optimizing local SEO by getting a Google My Business listing to see if you’re popping up on relevant search results. Then, make sure you’re aware of the relevant keywords to ensure you’re ranking higher in search.
You should also build local links that refer to local websites and encourage your previous users to share their reviews for your coworking space business. Doing these two processes shows Google’s crawlers that your coworking space’s website is a trustworthy one.
4. Practice search advertising
Search advertising is a type of online advertising that allows businesses to showcase their products or services on search engine results pages (SERPs).
Optimize your ads based on the right keywords and even your coworking spaces’ location.
This ad variant is typically sold on a pay-per-click (PPC) basis, meaning, you’ll only be paying your ad client whenever someone clicks on your ad.
The advantage of search ads is that they can bypass ad blockers and appear as organic search results, not another ad people skip. This allows more people to see what you have to offer, and as a result, increases your site’s traffic.
Search advertising begins by conducting keyword research to know what words can make your ads relevant.
Once done, use Google Ads to be an option to reach customers when they’re searching for terms related to what they’re initially looking for. This is possible because Google Ads allows you to specify what keywords trigger your ad.
Once you have an idea of how your ad campaigns reach your audience, it’s time to spend resources to optimize them to put them into practice to reach higher conversions.
Now that your ads are set, it’s time to see if they’re working. It’s ideal to look over your campaign’s click-through rate (CTR), conversion rate, and cost per conversion to see if the money you’ve spent creates conversions.
You can find this information by undergoing an A/B testing process that checks out singular elements of your ads and compares them to another version of the same ad.
5. Bank on content marketing
A content marketing strategy helps you create, use, and promote content to attract and retain customers through formats such as podcasts, blogs, video content, and many more.
For your business, having relevant content such as videos showcasing your coworking space or blogs about its features creates a need in the mind of anyone who sees them, increasing the likelihood of you getting more clients.
Dedicating a blog relevant to your industry is one way you can boost your business’ content marketing. Screenshot taken from andcards.
To create the best possible content for your coworking space business, first, figure out what kind of content would be useful for viewers.
Afterward, you can benchmark your competitors’ content to emulate what works, and improve upon what doesn’t—just make sure your content doesn’t completely replicate your competitor’s. After all, you want to create unique value for your business.
Remember to utilize your website, social media platforms, email newsletters, and more to ensure content promotion is maximized.
Finally, analyze the performance of your content with analytics tools like Google Analytics to help you find ways to improve them.
6. Anchor on social proof
Social proof is a verification process where people base their decisions based on others’ opinions about a product or service.
By including happy customers’ reviews on your website or marketing campaigns, you’re minding user experiences, thereby encouraging more people to visit your coworking space.
Experimenting with these various strategies is sure to be challenging because you might be practicing them for the first time.
You can gather social proof for your coworking space by soliciting testimonials and reviews on your channels.
Conducting message mining on existing reviews online is also a good way to collate what your previous or repeat customers think about your services.
Use social proof to increase your brand’s credibility. Screenshot taken from andcards.
When dealing with these reviews, remember that both positive and negative feedback have their perks. The former tells you what your business is good at and in the long run, can be a good data point to develop your unique value proposition. The latter, on the other hand, tells you what your business can improve on which in turn scales your business value.
Using these digital marketing strategies for your coworking space business is a challenging, but ultimately rewarding process.
To ensure you’re reaching your conversions, here are a few takeaways to keep in mind:
- Experimentation is the key to success. Doing something new makes wonders for your conversions! So try out the strategies above to spice up your campaigns.
- Connecting with your audience is how you’ll get their support. A strong audience connection is something you should develop if you want to see conversions. After all, quality service is the right of all your clients.