Service Catalog: How to Sell Additional Services at Your Coworking Space Efficiently
Coworking operators all over the globe share one major concern. They are struggling to monetize their businesses, to improve the workspace economy. There are many ways to do it and in this article, we are going to talk about one of them: selling additional services.
Coworking spaces may offer a variety of services to their members. Some of them are included in their membership plans and some go as à la carte propositions, which means you can order them separately.
A regular coworking space membership includes:
- A spot to sit. It may be a hot desk or a dedicated desk depending on the membership plan.
- High-speed internet.
- Access to shared printing facilities.
- Free coffee and tea (access to the community kitchen).
- Conference room use.
This list is really basic and doesn't cover all requirements of a growing business. That's why coworking spaces provide a whole lot of additional services for entrepreneurs at all stages of company development.
- Tax and accountant services.
- Legal help.
- Marketing services.
- Web development.
- Business consulting.
- HR services.
- Tech support.
- Data Analysis.
The list goes on as additional services you offer your residents are limited only by your imagination. The possibilities for growing revenue through those services are also truly numerous as you can cover not only professional but personal needs of your residents enabling them to order a personal concierge, personal wardrobe stylist, pet groomer, lawn care, mobile car mechanic, etc.
It goes without saying that all additional services should be available to members at a very competitive price, which adds value to their membership.
Building up a workspace services catalog is similar to collecting membership benefits. You just reach out to local businesses and establish partnerships. I am sure you will fill your catalog very soon as you actually connect businesses with new customers.
If you have some affiliated companies, you can surely feature them in your catalog. Besides, I am sure you will find many perfect candidates for your catalog among your tenants.
To conclude, building up a service catalog is not as challenging as making residents use it. So, the rest of my article is dedicated to giving you an idea of creating a marketplace for your value-added services right inside your coworking app. I will also show you some real-life examples of such marketplaces.
The easiest and the most efficient way to demonstrate your value-added services to members is to include them in a virtual catalog accessible right from the workspace app on their smartphones.
Pro tip: If your coworking space doesn't provide comfy apps for members, consider migrating to a better option. Members' happiness is your top priority as your revenue depends on it. If you are not able to put all your services at customers' fingertips — you are losing money!
Organizing services by categories you literally create a marketplace where the offerings can be easily discovered by customers. Creating a beautiful catalog you promote awareness of value-added services across your customer base.
You can add hot and fixed desks, business support, and other on-demand services to the catalog. Customers can not only explore what's inside the offer but apply for a service of interest right from the mobile app.
- Present services as an easy-to-use visual marketplace.
- Create custom service categories and add an unlimited number of items.
- Allow members to apply for services via app in seconds.
As you see, a service catalog inside your coworking space software solves two main problems — how to show products to the customers and how to enable them to apply for the ones they like.
Let me sketch a quick outline for a possible service catalog use case.
Supposing you have created a nice service catalog inside your coworking space system. Usually, customers can apply for services via email or link provided in the service description.
But you can do this process more fun and engaging. Use Google Forms or Typeform for crafting an appealing service application pop up. What's important, your interactive application form can be connected to a payment system such as Stripe, which is integrated with your coworking space software.
As a result, your members will be able to discover, apply, and pay for the services they want from the coworking space apps on their smartphones.
But that's not all. You can inform members about new services with the help of community newsfeed and push notifications.
A huge advantage of a structured coworking space services catalog is the ability to gather insights into which products residents use the most. You can use Data Studio andcards integration to get a detailed report on services application.
After acquiring accurate numbers, you can analyze the data and get a deeper understanding of community members' requirements. See the frequency at which particular service is used, know the most popular categories, and give members exactly what they want and need the most incredibly boosting their experience at your coworking center.
That was pretty much of it. I hope this article gave you one more idea of increasing your workspace revenue. Besides, a usable service catalog will give you a notable advantage over the competitors and contribute to the best member experience in your space.
If you have any questions on additional services promotion or feel like sharing your experience of organizing them, your feedback is welcome in the comments section below.
Would you like to try our coworking software with the possibility to build a workspace services catalog? Schedule a demo call where our expert will guide you through the process.