Coworking thrives on community, interpersonal relationships, and making strides toward changing the way traditional office looks and functions. But just as important, is the location of your space. While factors such as cost and trends may dictate where you decide to position your business, there are plenty of ways to maximize Coworking location. Let’s take a look at some of the ideal ways.
At the core of having happy members is a positive community feel. Making members and guests feel like they’re part of something special, and building cohesion and camaraderie is irrespective of the location you’re in.
Yes, if you’re in the most desirable, trendy area of your city you may get more leads and signings based on volume of foot traffic. But that does not mean that you will retain those members automatically. It’s still important to maximize the community aspect of your Coworking space. This will play a huge role in members choosing your space over others in a competitive location, or being willing to drive outside of the most desirable area for somewhere they feel most comfortable and confident.
Check out the link above for great tips on how to increase your sense of community in your space.
We recently discussed the impact partnerships can have in the success of your space. They’re even more important to make the most of your location. Whether its a coffee shop inside your space, a cross promotion with local restaurants and bars, or a gym promotion, you need to maximize partnerships to draw traffic and leads to a space that people wouldn’t otherwise come across.
If you’re in a suburb, or an underserved neighborhood, use partnerships to give extra incentive for people to come your way. Host sponsored yoga classes or cocktail hours. Invite local musicians to play at your space. Any sort of partnership will get potential members to say ‘hey, I had never seen this place, and its really cool.’
If you’re a niche space operator, of course you’ve narrowed down your target demographic specifically. But otherwise, you’re likely trying to reach a broad spectrum of the market. It’s wiser to focus your marketing on the personas you’re trying to reach.
There are many reasons why this is beneficial. You’ll allocate dollars to a clearer goal instead of a bigger budget targeting leads that would rarely close. You’ll be able to target those who either live within a closer range of your location or fit the demographic you’re aiming for. And of course, you’ll be able to tailor the benefits of your space to retain the members you already have, if you know details as to what they’re seeking.
Create clear member personas as we detailed in the link above, because your location isn’t ideal for everyone, but it can be the best option for many.
Every Coworking space has good amenities right? That’s part of the reason why millions of people turn to Coworking over the more isolated alternatives. Yes, that’s true, but think about ways in which your amenities will draw someone to your space regardless of how ideal your location is.
If you’re choosing to open a space in a suburban neighborhood, aim for somewhere that has on site parking. This will be a huge draw for those who find public transportation inaccessible from your space.
Make sure your service is impeccable. Make it so that your staff and other members are as welcoming, receptive and helpful as possible. Provide more day passes for guests if you have to. Give trial discounts. Remember, you’re trying to sway someone from a potentially more ideal location, so you have to hit a home run with hospitality.
What else is in or around your building? There can be benefits to being located outside the most up and coming areas. You may have a mall nearby. You may be located near a gym or chain restaurants or schools. Promote the fact that you’re nearby all these desirable amenities. Sure, the Coworking space downtown may have a gym in the building or bars on that block, but your members drove to you, and the gym is within a few blocks, there’s lunch options nearby and they could even be dropping their kids off in the same neighborhood. So you can spin things your way!
Maximizing your location will be a key to client retention and lead gen. To learn how the all new Yardi Kube can help you make the most of your location, please click below.