This article is part of the school of coworking course through Archie. Make sure to check out the other articles to learn more about how to start a coworking space business.?
Why are events so important for client acquisition?
Building a coworking clientele can be challenging whether you just launched your space or have been in the business for some time. Many space owners’ first idea is to resort to ad campaigns and different social media marketing strategies to help spread the word about their new and exciting coworking space. These are great initiatives, however, one option that often gets overlooked is hosting different events in your work space to bring more clients in.
Hosting events is important because they will bring in more foot traffic to your work space, meaning that you’ll have higher chances of your space being scoped out and rented. Generating interest and familiarity with your space is a great marketing tactic.
Must-knows before diving into the world of coworking events:
- There are three different types of events that you can host to bring in more foot traffic.
- Seeking out interest groups for events in your coworking space
- Paid events that you promote
- Community-building events for members
- Each event promotes the space differently. If your coworking space just launched you will want to bring traffic in and showcase the whole space. If you recently renovated your space, then you may want to host events that bring people into the newly renovated area.
- Each event type targets different goals and audiences. Depending on the size of your space, the location, and your budget, one might be better suited for you than another.
- Have fun! Event planning can be very stressful, but chances are that the events you’ll be hosting will be pretty interesting, so once everything is figured out, sit back, partake, and enjoy the fruits of your labour.
Option 1: Seeking out interest groups for events in your coworking space
The secret recipe to client acquisition is reaching out to interest groups who may want to use your work space for events.
One of the best things you can do to grow your clientele is to seek out other businesses that may be interested in hosting events in your coworking space. Think of this as a promotional sale on your services. To grow your client base, you have to give people a chance to see how fantastic your space is.
So how do you do this?
- First, focus on finding groups of interest that you think would want to come back to your space. This could include small businesses, societies, associations, or any other kind of customer base you’re looking for. Be careful not to do this with everybody, but only with groups you feel are worth it.
? Tip: Your local Human Resources Association is a great group to offer your services to. The more HR representatives you have in your space, the more potential companies will use your space at some point.
- After you’ve picked your groups, it’s time to reach out to them. Give them a call and pitch them your space at a reduced cost. You will want to either do that or give it to them for free and only have them pay for the cost of the labour for the event. Chances are they won’t be able to refuse such a good deal.
- Give them the work space and let them organize their own event. The beauty of this strategy is that once you’ve let a group book your space, you don’t have to get your hands dirty, all the hard work is out of the way.
- Once they have spent time in your space and saw how terrific it is, they will be likely to use your space again. The bonus is the connection you will build with this potential clientele, which will only make your business more trustworthy and reliable.
The reason many businesses will jump at the chance to take up your offer is that it will be a deal that they won’t be able to pass up, even if it is only a one-time event. They will also look professional by hosting events in a space dedicated to such things.
Although it may seem like a lot of money is at stake by offering different groups free or low-cost coworking space, if done strategically, it will benefit you in the long run. If you have a designated space that could hold these specific events and are okay with booking it out for little to no cost, then this might be the client acquisition option for you.
Option 2: Building your clientele through promotional events
Your main goal here is to create an interesting paid event that you could advertise online.
If you have a target market in mind then this is the option for you. With a promotional event, you will be able to make it as niche or as broad as you would like. The location of your space is also an important factor, and if you are located somewhere like a busy city then this might be a great option for you.
? Tip: Try hosting a long promotional event, that way people will get emotionally connected to your space and will want to come back.
How does a space owner go about this?
- First, you will want to do a cost-benefit analysis and see if this event type is the right move for you. Consider all the costs and what you will get back through ticket sales and potential clients and then decide if it’s the right step.
- Next, think of a specific group of people you are trying to target. If there is one that you would like to pursue your space, then make the event specific to that group of people. For example, if you want to target small business owners, you could make a formal training event on advertising online.
- Make all the important decisions including the date of the event, the budget, the speakers, and so on.
- Set up your event on your coworking software to have unified billing. For example, at Archie, a leading coworking space software, we provide a tool for you to market events and sell your tickets. You will also be able to share the link on different platforms like Facebook or LinkedIn.
Here is a view of what the software looks like:
- Promote the event online and through various advertisements. Social media is a great tool for advertisements, so look into Facebook, Instagram, Twitter, and maybe even TikTok.
- Have the event!
While this requires a lot more effort than any other type of event, depending on your situation, you may greatly benefit from it by acquiring clients rapidly and making money from these events. Consider the fact that these types of events don’t have to happen regularly, but once in a while. The big plus is also your ability to can cater these events to specific groups that you’d like to have in your space.
Option 3: Community Building Events
These types of events happen with your existing clientele and rely on referrals and your clients feeling like they are part of their coworking space community.
- Training on a specific topic
- Happy Hour
- Watch party for a sports game
- Game night
- Click here for more community event ideas
? Tip: People love food! Any event in which you can incorporate food is a good idea for community building.
These kinds of events are great if you are a space owner in a smaller town, where building community is easier or space isn’t very big.
One way this will bring in more foot traffic is by letting your customers bring in paying guests. Not only will you be making some money back, but you’ll also have more referrals to your coworking space.
Events are a great and exciting way of acquiring clients and building trust through referrals and real-time experience. Although not all three types of events are feasible for everybody, there are enough options for you to choose which type of event is best suited for your coworking space business to thrive and grow.
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