How to Sell Additional Services to Coworking Space Members
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.
- What Additional Services Can You Offer to Coworking Space Members
- How to Organize a Value Added Services List
- How to Sell Additional Services at a Coworking Space
- Real-life Examples of Service Marketplaces Used By Coworking Spaces
- How to Give Members Services they Need
Coworking spaces may offer a variety of services to their members and new customers. Some of them are included in their membership plans and some go as à la carte propositions, which means members can order them separately.
A regular coworking space membership always includes workspace in some form (hot desk, private office.) This is obvious, coworking is about workspace, which is its essence and foundation. However, by covering basic office space needs you can hardly get far in terms of business differentiation and customer satisfaction.
A growing business or company requires much more than just a place to sit. That's why coworking spaces provide a whole lot of additional services for entrepreneurs and remote workers at all stages of their company development. Conference rooms are one of those value-added services. We have already discussed meeting rooms booking on our blog. Let's see what else you can sell to members and how to do it graciously.
- Office Cleaning
- Personal Assistant
- Airport Pickup
- Office Handyman
- Parking lot
- Offset printing
- Food and snacks
The list goes on as additional services you offer to new members and loyal 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 (virtual offices, tax and accountant, legal, marketing, web development, HR, and other services) but personal needs of people 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.
Now, when you have a bunch of ideas for your additional services list, you will easily fill your service catalog with them.
Side note: Building up a workspace services catalog is similar to collecting membership benefits. Learn more about how to do it.
Though, it's critical to understand that simply having many value-added services is not enough. Making customers aware of them is exactly what you want to do and here are two potential ways to promote your services.
- Feature value-added services on your website. This is not really efficient. How often do members browse your website? Even if they visit your resource from time to time, they immediately forget about the info you post there, right after closing the browser tab.
- Create an in-app Service Catalog. You can compile a beautiful list of services right inside mobile apps your members already use for booking conference rooms. This is the best way to put your services in front of the customers. Every time a member opens your mobile app to book a hot desk or read a community newsfeed, they see a notification that new services were added, review them, and apply for the ones they like.
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 space app. I will also show you some real-life examples of such marketplaces.
- Cafe & Bar
- Business Support
- Tax Help, etc.
By adding a clear structure to the services you offer, you literally create a marketplace where the products can be easily discovered by customers. In other words, by creating a beautiful easy-to-navigate catalog, you promote awareness of value-added services across your customer base.
You can add parking, recruiting, tax and accounting support, and other on-demand services to the catalog. Establish plans and pricing for members to choose from. Customers can not only explore what's inside the offer but choose a service option they are interested in, apply, and pay for it right from the mobile app on their smartphone.
Now you know how to make your value-added services easy to discover. In the previous section, we arrived at the conclusion that the easiest and the most efficient way to demonstrate those 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!
Once your services are easy to find, take care of their instant availability. In other words, don't forget to clearly describe how to get this or that service (without talking to a community manager). Add clear call-to-actions prompting customers their next step: "Get,", "Apply," "Pay," or any custom verb that works better for you.
You can enable the application for services in a few ways:
- Link — include a link taking customers to the page where they can get service details and apply for it.
- Email — send an email with order details right after the customer taps "Apply."
- Purchase — or sell the service right inside the app and get your money immediately.
Of course, in-app purchases are the most efficient and desired for your business. Just imagine that a person has purchased a cocktail through the app. Barista immediately sees the order, knows the person's name, and where they are sitting. The customer is served in a blink of an eye. Isn't it a dream customer experience? And people get it at your flexible workspace.
Accepting payments for services inside the coworking space software is a brilliant option. You make the process simple and enjoyable for members and completely automated for a community manager. Customers pick out the preferred payment method (credit/debit card or Charge Card), click the "Pay" button and you watch your revenue grow.
- Improve customer satisfaction and service quality.
- Create new revenue channels by upselling members through your app.
- Differentiate your coworking brand among the competitors by offering a unique mix of services.
- Accept payments for value-added services automatically.
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 members to purchase the services they like.
Let me sketch a quick outline for a possible service catalog use case.
Supposing you have created a nice service catalog (with categories, images, and descriptions) inside your coworking space system. Customers can apply for services via email or the link provided in the service description. They can also choose the pricing option of the service and pay for it via available gateways.
As a result, your members are able to discover, apply, and pay for the services they want from the coworking space apps on their smartphones.
Please take a look at a couple of existing Service Catalogs created by our customers on the basis of andcards app.
Looks good, isn't it? Please note that you can inform members about new services with the help of a Stream community newsfeed and push notifications to promote them even more efficiently.
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 applications.
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 for 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 at your space which is cool as focus on members is the only right direction for a growing coworking business.
Would you like to get more ideas on how to grow your revenue on regular basis? Sign up for our newsletter.
Would you like to discuss the possibility of building a workspace services catalog for your coworking space? Schedule a demo call with us to see what andcards can do for you.