Driving revenue as a coworking operator is a balancing act between acquiring new members and retaining the ones you have.
We’ve written extensively on the Optix blog about how to improve your member retention and how to use member benefits to drive value in your space.
We’ve even written an entire piece about how to get clients in your new coworking space when just starting out.
In this article, we’ll be diving into how you can use our newest Optix feature, All New Plans and Passes, to bring new members into your coworking space. Whether you’re an Optix client or are considering adding Optix to your tech stack, this is the article for you.
7 Ways to Acquire New Coworking Members with Optix
1. Create custom intro plans for new members
Introductory plans are a great way to lower the barrier of entry to try your space. These plans are often discounted anywhere from 20-50% compared to your regular plan, and are available to purchase for new members only.
Intro plans give prospective members the benefit of trying your space for a set amount of time (anywhere from one week to a few months) at a lower cost.
How Optix can help
Custom Introductory Plans can easily be created in Optix. You have the option of setting them up with unique start and end dates, price, and more.
You can also set the Terms to ensure only new members are able to purchase an intro plan. After it’s purchased once, you can hide this plan from their view so they are not able to purchase it again.
2. Offer flexible passes for those not ready to commit to a recurring plan
Purchasing a weekly or monthly coworking plan can be a big commitment for new members, especially if it’s recurring month over month. Passes are a great way to get people into your space without requiring them to purchase something long-term.
A pass could include:
- A set number of check-ins allowed (ie. 5 visits)
- A set number of meeting room hours (ie. 10 hours)
- A specified amount of real currency (or your own custom currency) that they could spend on resources bookings, check-ins and products in your space (i.e. 100 Cowork Coins)
The great thing about passes is they can be used at leisure, are often offered at a lower price point, and don’t lock members into a long-term commitment. They can also be purchased easily by members on their mobile device.
How Optix can help
Passes are designed in Optix to be one-time purchases of access and/or Allowance for Bookings, Check-ins and/or Products that your Users purchase. You can set the price of your Passes and create them for users to purchase with whatever restrictions you like.
3. Drive new signups through your website
Chances are, a large number of people are finding you through your website or Google Business Profile. It remains one of the top ways people search for and explore new coworking spaces.
Simplify the sign-up process by allowing prospective members to buy an intro Plan or Pass directly on your website. Removing the friction of requiring people to come into your space or meet with a member of your team is a guaranteed way to bring more through your front doors.
When it comes to optimizing your website for conversions, the easier it is to make a purchase, the better.
How Optix can help
Optix Web Widgets are fully customizable, brandable tools that extend Optix capabilities to your website. By installing web widgets on your website, potential customers can sign-up for a plan or pass via a custom, integrated online form.
You don’t need a developer or another system to enable online sign-ups. Everything can be done directly in Optix.
4. Encourage spending with custom currency
Custom currency refers to an exchange of currency for a “coin” or “token” that can only be used at your business or in a specific way. It’s a common tactic used in almost every industry, from arcade coins to clothing store gift cards, as a way of locking people into spending more.
Introducing custom currency into your space can help you:
- Encourage spending
- Reinforce branding
- Gamify purchasing behavior
- Improve member retention
It’s a smart business model that can ultimately help you drive more revenue in your space. There’s a reason why some of the biggest names in coworking use it.
How Optix can help
Optix Custom Currency is a fully customizable credit system built into the platform. You have the freedom to change the name, value of the currency, and what people can purchase it with.
You also have the option of requiring members to purchase your custom currency to access your space, which can be an effective way of reinforcing your brand and encouraging more spending.
5. Create a sense of urgency with expiration dates
Expiration dates, time countdowns, and limited time offers have long been used to create a sense of urgency and drive behavior in marketing. There’s something incredibly motivating about the fear of missing out that can get people into your coworking space.
Consider setting expiration dates for your plans and passes for when you want people to come into your space in a certain time frame. For example, if you want to beat the summer slowdown, consider creating some discounted passes with an expiration date of the end of August.
This ensures more foot traffic during slower months and a stronger sense of urgency in using the space.
How Optix can help
Optix comes with the option of adding an expiration date to all Plans and Passes. For Plans, this would be the “end date” of a Plan. For Passes, you can set them to expire after a set number of days after purchasing.
With this functionality, you can get people feeling that sense of urgency to get in and try your space as soon as possible.
6. Consider offering free trials to new members
Free trials are a tried and true way of lowering the barrier to sign-up when it comes to coworking space memberships. They can be offered in a variety of ways, depending on what your community will find most valuable:
- Free desk for the day
- Free 2 hour meeting room booking
- Free week trial (max 2 visits)
- Free month when you purchase an annual plan
They’re a nice way of allowing people to experience your space and your community before committing them to a recurring plan.
How Optix can help
All Plans have the option of including a free trial if you so choose. You can also create a free Pass that can serve as a free trial, depending on which model you choose. Once a member redeems their free trial, they won’t be able to use it again.
7. Offer 1-day guest passes for members to bring a friend
People trust people they know. They’re also more likely to become a part of a community if they have a friend. For that reason, referral marketing is a powerful tactic for coworking spaces to capitalize on.
Giving members a 1-day free guest pass can be a powerful way of acquiring new members at a relatively low cost. Their guest will get to see what the space is like, while your member gets to bring a friend into the space.
How Optix can help
1-day guest passes can easily be created as a Pass in Optix. They can be added to a members account, so that members can have access to them without paying for it.
These passes can also be hidden from members so that they cannot be purchased. This prevents people from taking advantage of the guest pass offer and limits it to one per member, or more if you so choose.
Get started with All New Plans and Passes
All of our features are designed to help you grow your business and run it more effectively. With all new Plans and Passes, you’ll have access to a new set of features that will allow you to acquire more members and help them stay in your space longer.To learn more about All New Plans and Passes, check out our blog article. To get started with Optix, get a free trial today.