5 Expert Tips on How to Grow Business in Coworking Space
In fact, experts have reported a significant increase in the demand for coworking spaces in the United Kingdom since 2022. Locations like Bolton and Cardiff witnessed a surge of over 200% in demand for coworking spaces.
Furthermore, forecasts indicate that the coworking space market is poised to grow at a compound annual growth rate (CAGR) exceeding 8% until 2027. Keeping in mind this upward trajectory, coworking businesses should capitalize on this opportunity by refining their strategies and enhancing their market presence. Here are some expert tips to guide you on how to grow business in coworking space.
Network, Network, Network.
Networking helps businesses to expand their connections and grow their customer base. Coworking businesses can take advantage of the networking opportunities within their communities to collaborate and network with other like-minded individuals.
This explains the importance of conducting networking events within your office space. Such events attract potential partners or clients among attendees. Additionally, tenants highly value workspaces that offer networking opportunities, presenting a prime advantage for your business.
Here are some of the business networking activities you can explore or conduct within your space:
- Casual Contact Groups: This is an informal meeting of various business groups where ideas are shared.
- Business Seminars: This is an industry-specific gathering of business professionals that is beneficial if you’re looking for potential partners or clients.
- Professional Associations: This is another industry-specific gathering where specialists give and share information to develop business relationships.
- Workshops: Individuals are invited to participate in an event to learn a particular skill or knowledge. This is also an avenue to discover talents and potential clients.
To achieve an effective business expansion in coworking, it is essential to embrace the concept of networking. The larger your network is, the more chances for expansion in both your customer base and relevant markets. So, start growing your network now!
Get the Coworking Buzz Going.
Social media has a huge impact on building a business presence. In fact, 90% of marketers reported experiencing increased business exposure, while 75% of them reported an improved web traffic.
In the UK, there were about 57.1 million reported active social media users as of January 2023. This substantial number presents a remarkable opportunity to market your coworking space across all social media platforms. Below are some of the top-performing social media platforms in the UK by market share as of June 2023;
| Social Media Platforms | Social Network Market |
| approximately 62% | |
| Twitter (rebranded as X) | approximately 15% |
| 2.43% |
Apart from social media marketing, you can maintain the buzz around coworking by utilizing email or referral marketing strategies. Both approaches facilitate the seamless promotion of your space, expanding your reach and potentially growing your customer base. Remember that a broader presence means more growth opportunities.
Optimize Your Website & Content.
Producing high-quality content on your website is a great way to boost your web traffic. This is also a smart move if you want to increase your website’s authority for search engines.
Here are some of the types of content that coworking business owners can add to their website:
- Blog Posts: Informative articles about workspace trends, productivity tips, industry insights, or success stories can attract and educate potential clients.
- Videos: Engaging visual content, such as workspace introductions, client testimonials, or walkthroughs, which captures attention effectively.
- Infographics: Visual representations of workspace benefits, statistics, or comparisons can quickly convey information and attract attention.
- Case Studies: Highlight successful collaborations or partnerships within the coworking space to showcase their value and impact on your business.
- FAQs: Clear and informative resources addressing common queries or providing guidance for potential clients considering coworking spaces.
- Virtual Tours: Interactive and immersive experiences showcasing the workspace layout, amenities, and atmosphere to provide a real feel for the space.
This content strategy should complement a well-optimized website. Ensure your website offers a flawless user experience, seamlessly adaptable to various devices for every visitor. Accessibility and user-friendliness are key to retaining visitor interest and fostering trust in your brand.
Keep reading to discover how to grow business in coworking space.
Partner with Other Workspace Providers
One of the notable strategies for growing your business in shared workspaces includes collaborating with other workspace providers. Partnering with such entities significantly strengthens your market presence.
Collaboration often involves cross-promotion. In this way, each provider showcases the offering of the other to reach a wider audience and expand their customer base. Such partnerships not only broaden your reach but also bolster credibility and authority within the marketplace.
If you're seeking a dependable office space partner, Office Hub is the solution. Having served over 250,000 clients, we are committed to catalyzing the growth of your business. Our extensive network of partners and glowing testimonials from satisfied clients attest to our dedication and reliability in this industry.
Eager to explore further? List your space with us now!
Offer Free Trials for Your Space.
Offering free trials in the coworking industry is one of the most effective coworking space growth strategies. These trials play a crucial role in attracting and converting potential clients by providing them with a firsthand experience of your workspace's environment, amenities, and services.
Incorporating contests or giveaways further enriches this approach. Giveaways serve as appealing incentives, drawing potential clients to engage with the workspace provider. Meanwhile, contests—potentially involving challenges or interactive events—generate excitement and curiosity, driving participation and fostering a sense of community buzz.
Beyond the immediate impact on acquiring clients, these tactics significantly contribute to community engagement. They ignite interaction, inspire participation, and cultivate a sense of belonging among both current and prospective clients. This heightened engagement not only adds to the workspace's allure but also cements its status as a top choice within the industry.
Grow Your Business Now with Coworking Spaces
In the ever-growing landscape of coworking spaces, it’s crucial to recalibrate your efforts to maintain a competitive edge. Adhering to expert tips on how to grow business in coworking space is key to sustaining the buzz and staying ahead.
Amongst these coworking space growth strategies, seeking a trusted office space partner stands out as paramount. Collaborating with a reliable partner is pivotal in elevating your market presence and authority. Increased exposure translates to expanded clientele, amplifying your business prospects.
Look to Office Hub, boasting over a decade of expertise in this domain. Reach out, and explore how our collaboration can enhance your market position. We're eager to discuss the terms and conditions of this exciting partnership.
Get in touch – we’re looking forward to hearing from you!
