5 Free Ways To Promote Your Coworking Space
Coworking spaces have been around as serviced offices before made “cool” by WeWork. Following it’s failed IPO, investors, and businesses start to question the business model of every other coworking space out there.
In Chupspace, we’ve talked with hundreds of co-working space operators of all sizes. From WeWork, Common Ground right to pops-and-moms coworking space, the most common thing we heard is “Breakeven“.
The main thing that every coworking space is struggling about is its operation cost. With around RM50k upfront renovation cost, you will still need extra money to market your space. That’s why we come up with few ways that we’ve identified that you can promote your coworking space for free, or even EARN money while promoting it.
How to get more people know your coworking space
To grow every customer, you’ll need additional expenses like hiring more people, expanding offices (which most brick and mortar business does). Ultimately, membership services are only here to breakeven.
Increasing prices of the membership is not a viable option as there are a lot of choices out there in the market that offers similar things. The only competitive advantage of most pop-and-mom spaces is the price and people are there because it is cheaper and near to home.
Bringing in new customers with events
Most spaces rented out their event space to other businesses that wish to tap into the network of freelancers & small business owners.
Renting out spaces is a great way for any coworking space to make extra revenue to cover rent, operations and gain more exposure.
What are some free ways you can promote online?
1. Facebook groups
Find your niche audience that you wish to target and where you think it’ll be easy for them to buy your product. Some Facebook groups work extremely well for coworking spaces as they’re full of freelancers and business owners.
- Malaysia Business / Startup / SME / Investors / Jobs Community (by Beamstart)
It is important to craft your offering and not only spam promotional offers to these groups. Cause nobody likes to be spammed and shoved information down their throat.
Here’s some keypoint that we think you should include in your business pitch:
- Who are you and what you do
- What’s your business?
- One main difference you have with other coworking spaces
- Include some pictures, learn how can you take great pictures of your space here
2. Classified ads
Another great way to gain exposure for free is to share your posts on classified sites, although there are several limitations on most classified sites like reposting every now and then and low-quality lead. It is still one of the best ways to get your words out there into the world by tapping into a bigger pool of audience. Here are a few classified ads you can try on
- Facebook marketplace
- Starsearch (by The Star)
- For more free classified sites, visit this page here
The cons are that exposure is often limited if you’re not featured, however, the great side is that you can pay to get featured, usually for only a small fee.
Want to earn 24/7 with your space?
Maximise your real estate by sharing spaces during off-peak, non-business hours or regular holidays
3. Online marketplace
Most of the spaces we found have listed on platforms like coworker.com to get better exposure from overseas freelancers when they work travel. One of the main advantages of getting into an online marketplace is the free exposure that they get by ranking on the first page of google on a specific niche.
As you may find coworker.com from the keyword coworking space, you’re listing your space so that you’re also somehow ranked first place on Google. What’s best is that most marketplaces are free to list and only takes a small commission when your space is booked. Some marketplace that you can use
There are tons of marketplace to choose from, but how do you determine which suits you the best?
4. Instagram #hashtags
The Malay community respond better to hashtags, if you’re looking for greater exposure to the community. This channel is for you
We’ve seen event spaces grown to tens of thousands of followers just via Instagram. It is one of the most effective free channels that you can get for any lifestyle related product & services.
We remarked lifestyle because people go to Instagram to see great and beautiful things.
So unless your space is really awesome for small parties & girlish parties, you may come across a roadblock on Instagram. Here are some spaces that would do really well on Instagram.
- Party spaces with theme
- Engagement/wedding related spaces
- Festive parties (Halloween, Christmas, etc)
If you think you have what it takes to stand out better than the rest, here are some hashtags that are commonly used by event space pages that do well on Instagram
You can easily explore these hashtags by following the page with the most followers and discover how they hashtag.
P/S: Just copy paste the whole damn thing.
I’d argue that this is free as it requires a lot of time and work
As every business wants, we want to rank ourselves on the top of our keywords, imagine every time people type “coworking space” your website pops out. Well unless you’re hiring an agency or a team to do SEO for you, it is very less likely the case. However, we still recommend you to go for it as you may score on long-tail keywords.
What is a long-tail keyword?
Instead of having your site to rank for a high-level keyword like “Coworking space”. It is easier to rank for a niche keyword that describes your space best.
For example, you’re a coworking space located in Bukit Jalil, with full equipment installed for a seminar.
It is easier to rank for the following terms (longtail)
- coworking space in bukit jalil
- seminar room in bukit jalil
- coworking space for seminar
- coworking space for seminar in bukit jalil
See how it niche down to a smaller fragment and you have less competition on the specific niche. Although you may argue that only a very low volume of people searching for the keyword. It works as a tool for you to get IMMEDIATE customers who already looking for a space to host a seminar in your area.
Hosting on Chupspace allows you to leverage SEO of the whole website.
6. Interest groups
Have some special events to your target audience
If you find a lot of moms visit your space to have a chat or work, it is always good to have events that target moms, or any other audience.
Have some events that target specific audience, unlike a professional event, you can make it casual like
- Mom sharing day, where moms share their experience on breastfeeding, etc
- Mom parties, where you can get people of the same kind come over to the place and share about their happy times
- Baby video viewing
The lists goes on, and you can reach your target audience for almost free by reaching out to interest groups. However, this usually does not convert immediately into sales cause most of the time these events are only valid if they’re free.
There are many ways for you to market your space but it all comes with a price. The entrepreneurial journey is lonely but fruitful, it is necessary for you to get together with like-minded people and work as a team.
Earn money by sharing idle space
You stop earning when you’re not operating for business, why not rent these extra hours for extra income?