Let’s just say it: coworking spaces took a serious punch in the gut when the COVID-19 pandemic hit.
Nearly 41% of spaces confirmed that memberships and renewals dropped since March, and almost 72% of operators are seeing a significant reduction in the number of people working from their spaces this year.
And we’d be delusional to believe it’s back to where it was or where we want it to be yet.
BUT (good but):
The numbers show optimistic signs for coworking, as per Coworker’s 2020 Growth Data in Review. Despite the pandemic, the industry still saw growth in 2020, with some of the fastest rates happening in:
- USA: +19.7%
- India: +27.5%
- UK: +18.2%
We also saw huge volumes of new coworking spaces opening up around the world:
- Europe: +4,667 spaces
- Asia: +4,498 spaces
- North America: +3,655 spaces
- South America: +925 spaces
- Oceania: +491 spaces
- Africa: +711 spaces
- Central America: +129 spaces
And as the workforce continues going remote and becoming ever more distributed, the value to people in being able to divide their time between home and any other place they want to work has been proven.
Things look optimistic. And while times are still uncertain and budgets are still tight, that won’t last forever.
Existing members who might not feel comfortable coming back to your space yet soon will. And people and organizations that are newly remote are going to be looking for somewhere to work.
But with new spaces opening up globally, even in the face of challenging times, the competition is getting tougher and the need to stand out is becoming ever more important.
That, my friends, is why the time is NOW to start focusing on your content strategy. And if you don’t start now, it’s going to be too late.
Because all of those people and organizations that need a place to work are going to start doing their research verrryyyy soon (if they haven’t already).
And it’ll be the coworking spaces that have laid a foundation of awareness, focused on creating visibility over the course of that consumer research cycle, and emphasized building organic relationships that are going to rake in new members like Hungry Hungry Hippos (outdated reference alert).
The ones that didn’t? Not such a good look.
So, don’t get caught flat-footed on your content marketing when people start doing their due diligence. Get a running start at the fundamentals, like:
- Creating high-value blog content (for more insight and direction on that front, read this, this, and this)
- Tightening up your web copy to make sure it sells
- Getting your social media presence polished up
- Building up your mailing list
- Kick-starting your lead-nurturing email drip campaigns
- Dialing in your SEO
- Defining your brand positioning and unique selling points to differentiate yourself from the competition
- Becoming a source of service, resources, and support for existing and prospective members
Put your space out there. Be consistent. Be visible. Be seen. Be remembered.
Get ahead of the ball now and I promise you’ll watch your membership skyrocket when things get back to normal.
Or, do nothing and I guarantee you’ll watch your competitors eat your lunch.
Not sure where to start? Don’t waste another second. I work with coworking operators from across North America to build and execute done-for-you content strategies that help drive membership sign-ups. Drop me a line today and let’s put a plan in motion for you.
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