The coworking space market is evolving. According to Grand View Research It is expected to grow at a compound annual growth rate of 14.9% from 2023 to 2030 which is really cool.
Though, with all those cozy to luxurious to sector-specific shared workspaces popping out daily, the customer is getting more demanding.
It’s really challenging at times to make clients happy but it’s absolutely critical to nail it for your business prosperity.
This article will help you find the key to future customers’ hearts and retain current members more efficiently.
Let’s start.
Why Happy Members Matter
Happy members create a welcoming atmosphere, attracting new faces and keeping the whole place buzzing. Here's why keeping your crew smiling is the key to a thriving space:
- Loyalty that Rocks: Loyal members are your best friends! Studies show that companies with a loyal following grow their business faster than the rest. When members love your space, they become regulars, forming the solid foundation of your business.
Companies with high scores on brand loyalty grow revenues 2.5 times faster than industry peers. — Investopedia
- Repeat Business: Your Steady Stream of Awesome: Sure, attracting new members is exciting, but don't forget the power of your existing crew. It's way easier (and cheaper!) to keep them happy. The chances of selling something to them are way higher than someone who just walked in the door. Your loyal base becomes a reliable source of income, keeping your space financially healthy.
- Free Marketing Magic from Happy Folks: Marketers know the secret: people trust their friends more than fancy ads. When your members love your space and tell others, it's like a free promotion! Referrals and testimonials from happy members spread the word organically, attracting new clients without you lifting a finger (or spending a dime on ads).
People are 90% more likely to trust and buy from a brand recommended by a friend. — Nielsen Trust Nielsen in Advertising
What Makes People Happier at Work
Let's face it, work happiness wasn't exactly setting the charts on fire before COVID hit. A recent study by Mindspace surveyed over 5,000 people and found that only 30% were truly happy at work. There's definitely room for improvement, especially for coworking spaces where fostering a positive work environment is key!
But here's the thing: happiness isn't a one-size-fits-all deal. While some folks might be bouncing out of bed in the US or Netherlands, others in the UK might be feeling a bit more "meh." And let's be honest, men and women often have different workplace experiences, with managers generally reporting higher happiness than employees.
So, what can we learn from this?
Target your tribe! You can't please everyone, and that's okay! The best approach is to identify your ideal member profile and focus on making them super happy. This is a key lesson from HR management—cater to specific needs, not generic wants.
The 6 Dimensions of Coworking Happiness
Luckily, some smart folks at Steelcase have identified 6 key areas that contribute to workplace happiness. Think of them as the ingredients for a happy coworking recipe:
- Optimism & Creativity: Spark innovation and fresh ideas by creating a space that encourages out-of-the-box thinking.
- Mindful Focus: Help your members be present and productive by offering areas for quiet concentration.
- Authenticity Matters: Let your members be themselves! Create a space that feels comfortable and allows for personal expression.
- Building Belonging: Foster a sense of community by hosting events and encouraging interaction between members.
- Finding Meaning: Help members feel their work has purpose. Coworking spaces can offer resources and connections that contribute to a bigger goal.
- Tools for Success: Equip your members with everything they need to thrive, from comfy chairs to high-speed Wi-Fi.
Happy vs. Satisfied: What's the Difference for Your Coworking Space?
Imagine this: a member uses your coworking space and thinks, "Yep, it does the job. Wi-Fi works, coffee's decent." That's customer satisfaction—they got what they expected, nothing more, nothing less.
Now imagine a different member. They love the space—the comfy chairs, the friendly atmosphere, the cool events you host. They tell all their friends about it and can't wait to come back every day. That's customer happiness—they're not just satisfied, they're hooked!
So, what's the big difference?
- Satisfaction is like checking a box. Your member gets what they need, but there's no emotional connection.
- Happiness is like falling in love. Your member feels a sense of belonging, gets excited about coming to work, and wants to spread the word.
For your coworking space to thrive, you need happy members, not just satisfied ones. Happy members become loyal members, bringing you repeat business and referrals. They're the fuel that keeps your space buzzing.
Beyond Satisfaction: Crafting Coworking Happiness
So, how do we move beyond "meh" to "marvelous"? Here are some ideas to inspire coworking happiness:
1. Know Your Tribe
Imagine a space designed for artists—overflowing with vibrant colors, comfy couches, and a communal art studio. Now picture a space for accountants—sleek, quiet, and focused. See the difference? The key is understanding your target audience. Who are you trying to attract? Cater to their specific needs and interests, and watch your space come alive!
2. Freedom to Fly
We're living in the age of remote work and flexible schedules. Your members crave freedom—the freedom to work when they're most productive, from wherever they feel most inspired. Offer a variety of membership plans and 24/7 access to amenities. Think about a desk booking system, virtual memberships for location-independent entrepreneurs, and flexible options for growing teams.
3. The Power of Community
People are social creatures. Studies show a desire for connection is a major reason why people choose coworking spaces. Foster a sense of belonging from day one. Welcome new members warmly, connect them with others in the space, and host events that encourage interaction.
Complete Roadmap for Making Great Coworking Space Events + 20 Ideas
4. A Higher Purpose
Humans crave meaning in their work. Help your members feel like they're contributing to something bigger. Partner with charities, organize volunteering opportunities or simply create a space where members can connect and support each other's goals.
5. Tools for Success
Let's face it, a beautiful space with slow Wi-Fi isn't going to make anyone happy. Equip your members with the tools they need to thrive. Think high-speed internet, comfortable furniture, well-equipped meeting rooms, and a user-friendly app for booking desks and services.
Bonus Tip: Measure What Matters
Happy members don't just feel good, they're good for business! Track your member satisfaction with surveys and collect feedback. This data is your roadmap to happiness—it helps you identify areas for improvement and keep your space on the path to success.
Top 5 KPIs for Coworking Spaces—Watch Webinar Recording
High Five! The Future is Happy
You made it to the finish line and now you're officially armed with a treasure chest full of ideas to design a coworking space that keeps your members bouncing with joy.
Remember, happy members are like boomerangs—they come back stronger! Not only will they stick around, but they'll be your biggest cheerleaders, spreading the word and bringing new faces to your fantastic community.
Now, go forth and create a coworking space that makes Mondays feel like Fridays! Your happy members will thank you for it.
Want to become a master of member happiness? We've created a free, downloadable eBook overflowing with actionable strategies to keep your coworking space buzzing with happy faces.
Discover the keys to the happiness of your coworking space members.
By putting these tips into action and diving into our eBook, you'll be well on your way to coworking nirvana! Happy members, thriving space—that's the dream, and it's within your reach. Let's make it happen!
