As a coworking space operator, you know driving leads and filling your space to capacity is crucial.
But how can you do that in an efficient, cost-effective way? It is becoming increasingly difficult due to the growing competition in the coworking industry. Without something new and exciting on the horizon, your coworking business can quickly lose momentum and users.
Fortunately, there are many simple strategies you can implement to generate more leads for coworking spaces. In this article, you’ll learn four.
Let’s dive in!
1. Use paid advertising
Paid advertising is a valuable tool for generating quality leads. It can take many forms, including social media ads, Pay-Per-Click (PPC) ads, display ads, and sponsored content.
Each channel has benefits and drawbacks, so it’s essential to understand which ones are the best for your coworking space.
For example, social media ads allow you to target specific audiences through sophisticated targeting options. You can choose who sees your ad based on location, age, interests, and behavior. This makes it easier to create relevant content strategy and ensure your ads are delivered to the right people.
WeWork captivates its ideal prospective clients through LinkedIn ads. We can assume the target audience for this ad consists of people near Districts 1 and 4 in Ho Chi Minh, Vietnam. Showing the ad to people far from those places wouldn’t make much sense. They wouldn’t be able to avail of the offer in the first place:
Meanwhile, PPC ads allow businesses to target people already searching for specific products using search terms. PPC can be a practical option to promote your Shopify store since people looking to buy items usually make a search online. This is also the same reason you can easily generate leads for your coworking space through PPC ads. See what happens when I use the search term “coworking spaces California.”
Many examples of PPC ads made by coworking spaces crop up:
Display ads and sponsored content, on the other hand, can help you reach a pre-defined audience and position your brand as an industry leader. By crafting captivating and educational content, you can showcase your coworking space’s unique offerings and set you apart from the competition.
Make sure you run targeted advertising campaigns. Specify your audience per campaign. If you use a blanket approach, you won’t be able to maximize what each of these forms of paid advertising can offer.
2. Leverage social media
A solid social media presence is crucial for any business to connect with customers. Coworking spaces, in particular, can use social media platforms like Facebook, Twitter, Instagram, and LinkedIn to showcase their best features. They can use social social media for branding and tap into a massive audience they can convert into leads.
But for this lead-generation strategy to be effective, you need to consistently create valuable content that resonates with your target audience.
Apart from showcasing your space and offerings, you can inspire and educate with your content. Use high-quality images and videos, client testimonials, and more.
Here is an example from @coworking.tulum. It has leveraged customer testimonials that help in lead generation.
You can also post about relevant coworking space topics like the future of remote work, property development, the gig economy, and the coworking sector. This type of content won’t only help you generate leads. It will also help establish yourself as a thought leader and help you build a loyal following.
Here’s another effective strategy for generating actual leads from social media: Actively listen. By monitoring relevant hashtags and keywords, online communities, forums, and groups, you can join the conversation and offer valuable insights to those seeking flexible office space.
You can also reach out to influencers and organizations with a huge social media following to elevate the visibility of your coworking space.
The CEO of the Wing, for example, spoke with Glamour magazine about the keys to success in business. This approach not only builds trust and authority but also puts your brand in front of a highly targeted audience.
Finally, it is crucial to foster meaningful relationships with your existing clients. By engaging with them and responding to their comments and messages, you nurture your relationships. So, you promote a positive image of your coworking space. This, in turn, can lead to word-of-mouth marketing.
3. Launch a referral program
Referral programs are a proven and effective way to attract new leads for coworking spaces and expand your reach. With referral programs, you can build a thriving community for your coworking space effortlessly. Simply encourage your current members to invite their networks to your space.
By “encourage,” I mean you offer them something in return for promoting your brand. So, you could offer discounted rates, free use of your workspace for a month, a gift card or a cash reward. The key is to make the incentive valuable enough to motivate your members to participate in the program.
Also, make it easy for your members to refer their contacts to you. Provide them with a simple referral form or link they can share via email, social media, or other channels.
You can also create a dedicated landing page on your website. This is where potential customers your clients bring in can learn more about your space. They can also sign up for a tour or trial membership here.
Also, promote your referral program through your website, social media, and other marketing channels. Highlight the benefits of referring new clients. Also, emphasize the ease and simplicity of the referral process.
For instance, Launchworkplaces created a webpage dedicated to its referral program (see above). The page has all the information customers need to participate.
4. Attend networking events
Networking events offer an excellent platform to meet potential clients, partners, like-minded individuals, and other professionals in the industry. You’ll also gain valuable insights like coworking trends and the preferences of potential clients by attending these social events. These insights can then help you refine your strategy and offerings to cater to the specific needs and demands of your target audience.
You can find these networking events through a variety of techniques.
You can check other coworking space websites and social media accounts. Many spaces are happy to provide information about upcoming coworking events they plan to attend.
You can also search on event directories or platforms, such as Meetup or Eventbrite. These sites allow you to search for events by location, keyword, and date.
But don’t just attend these networking events. Remember, you want to generate leads for coworking spaces effectively. You can only do that if you make the necessary preparations.
Follow these tips so you can get the most out of the networking event:
– Identify the key industry players who will be present. You’ll want to do a bit of research about each of them before the event. This way, you’ll know how to break the ice when you meet them.
– Bring business cards. You may also bring marketing materials to hand out. However, don’t go overboard with your distribution. One flier or booklet will do.
– Prepare an elevator pitch that summarizes what makes your coworking space special.
Don’t forget to follow up with new contacts after the event. Send them a personalized message so you can continue the conversation and establish a relationship.
If you do it this way, you’ll increase your chances of bringing in new members to your coworking space.
In closing
Generating leads for coworking spaces requires a targeted and strategic approach. With a few focused strategies, you can increase the volume of business leads you generate.
You learned these strategies from the article: paid advertising, leveraging social media, implementing a referral program, and attending networking events.
You can implement more than one strategy for lead generation. I suggest you try each of them first and see which yields the best results for your business.
When used with well-defined marketing plans and campaigns, these strategies can help launch your coworking space into the next level of success.
