Research shows that customer retention rates by as little as 5% can increase a company’s profits anywhere between 25% and 95%. So what steps can a business take in retaining coworking members?
First, making sure your space is in a position to fit your target audience. By identifying a specific audience and tailoring your services to appeal to them, it will be easier to retain prospective members.
When recruiting new members, make sure your pitch is laid out in a way that properly communicates all of the benefits, services, and amenities your coworking space has to offer.
The process isn’t over when a new member comes onboard. Once they’re apart of the community, you want to continue engaging with them and also encourage networking within the space. This can be done through online communities or hosting events.
No matter the method you take in retaining coworking members, always make sure something sets your space apart. Whether it be reduced membership fees or freebies for existing members, it is important to continue promoting the space after you have attracted your community.