How to Boost Your Coworking Brand Awareness (the First Step of Building a Marketing Funnel)
It's a common situation when you open a new coworking space, invest in its stylish design, buy ergonomic furniture, powerful hardware, etc. An innovative coworking software provides a futuristic experience to the guests. Seems like you are offering a competitive service... So why customers don't come? Maybe they simply don't know about you? Are you working on your marketing funnel?
Not sure what is it? It's a marketing technique that helps you make sales without hiring special sales staff, without cold calls and growth hacks.
A simple effective sales funnel will help you drive human traffic, convert those people into customers and make them love your brand.
Funnel marketing includes several stages. In this blog post, I will give you actionable tips on brand building, which is the first stage of the marketing funnel. Stay tuned and very soon you will be able to set up your own marketing funnel and make your business profitable without involving pushy sales tactics.
Each stage of sales funnel requires some time to implement but as it starts to work you are going to see positive changes and profit growth almost immediately.
Let’s see the big picture of the typical marketing funnel and then drill deeper into the brand recognition stage.
What is a Marketing Funnel?
A marketing funnel is a special system developed to attract people and convert them into customers to your coworking business (or any other kind of business).
Here is a simple scheme demonstrating how sales funnel work:
Why marketers are using a funnel shape? Because each lower stage is smaller than the preceding higher one. This happens because not all people who get to know about your coworking space actually come to work there. In other words, they “drop out” at each stage of the funnel.
Here is an example.
You are a modern coworking space located in Rumford, US.
Two hundred people who live there work remotely. From time to time they get tired of staying at home all the time and go to Google in search of a good solution for their problem.
You have a nice website promoting your coworking space and ranking for "coworking space rumford" on Google. So, nearly a hundred people click through to your site.
You offer a 10% discount for those who sign up for your service and become a member. Nearly fifty people are seduced by the perspective and fill in your forms to get a coupon.
Then they get back to usual daily rituals and only twenty-five freelancers use their promo code to close the deal.
You see, people drop off at every stage, so the top part, which is Awareness) is always larger than the bottom part, which is Conversion.
A Matter of Representation
Maybe you have already tried to create a marketing funnel for your coworking space. You have probably seen another diagram of sales funnel including lots of arrows and if/else conditions. I don't feature it here because the goal of this blog post is to encourage you to make the first step and not to overwhelm you, especially if you are a newbie to marketing.
We will avoid overcomplicated techniques and stick to their simple analogs.
Just for your information. The marketing funnel will work for you under two conditions:
- You have excellent service.
- You have the market of prospective buyers.
In other words, you have found your product/market fit.
Well, when this is settled, let’s start building your own funnel.
Brand Awareness - the First Stage of Marketing Funnel
At the stage of brand recognition freelancers having a problem with workspace get to know about your service because you are closely related to their problem.
Ways to market your coworking business:
- Publish articles on your blog or third-party resources.
- Participate in a podcast or get a shoutout from the host.
- Run a Facebook ads campaign.
- Rank high on Google.
- Attend conferences and speak there.
- Shoot videos for YouTube.
All of the above ways are relevant as soon as they tell the audience about your existence. There is a chance of getting customers straight away. This happens if people are strongly frustrated with their problems.
Even if the rest of the audience doesn't hurry up to sign up for your service, they know that you are connected to their problem. And it's time to apply the following coworking marketing tips. Remember that you aim to make sure that the potential leads go through each step of your lead funnel becoming the paying customers that find your service as a solution for their needs.
Talk as much as you can about the problems freelancers face when they don't have a dedicated space to work. Raise people's awareness of the issue, persuade them that it's important, that it's not good to procrastinate, it's much better to tackle and resolve the issue. Show people the way to solving the issue, connect it with your brand and the service you provide.
Your objective is to let even more people know about you in the process.
How can you expand your reach? You must "broadcast" your message across all available marketing channels.
If this seems too time-consuming to you, start to hang out in the main channels where you can meet your customers.
Start with Google
Google is the first stop destination for everyone. Where do you go when you have a question? You put it into Google search and get the answer.
Believe me, your customers do the same. They turn to Google with their problems and google for answers when having questions.
I can prove this with statistical data. Google's search engine market share is 92.96%, it processes nearly 5.6 billion searches per day.
This is how most of the customers discover any business, including your coworking space.
Here is the process.
- You publish content on your corporate blog.
- The blog posts you publish rank well in Google.
If you do everything right, searching for relevant terms people find your content and read it. They remember that you are related to coworking business. If they look for coworking business-related content in the future, they’ll likely think of you.
The mere-exposure effect is a psychological phenomenon by which people tend to develop a preference for things merely because they are familiar with them.
What is the marketing strategy behind high content rankings?
- You need to do keyword research to find relevant topics your target customers are searching for.
Pro tip: Target a broader topic at this stage because you need to reach as many people as possible.
5214 keyword ideas for seed keyword "brand awareness" in Ahrefs' Keywords Explorer.
- Then research SEO metrics to make sure your post has search traffic potential (Keyword Search Volume, Return Rate, Keyword Difficulty, etc.)
- Follow the best SEO copywriting practices while writing.
You may change the process, but keyword research is a required step. You may use this keyword research guide adjusting the points to your needs, resources, and industry.
Use your favorite marketing tool to automate the process. Don't have the one? There are plenty of them on the net. Some are free, yet very helpful.
Shoot a Video for YouTube
Why did I place YouTube right under Google? Because it's the second largest search engine in the world.
All of us love YouTube and use it on daily basis. It's safe to say that the resource is a cultural life-changing phenomenon. It brings millions of videos closer, actually, they are a click away.
The video resource is around since 2005. The total number of people who use YouTube is 1,300,000,000. However, the channel is still pretty neglected for businesses.
Do you post coworking-related videos on YouTube? For most coworking owners the answer is No.
Yet, I believe that you should be there. Look at the WeWork channel. They joined YouTube in August 2013 and have 10,489,030 views at the moment.
How do they know what to shoot? The process for YouTube is pretty much the same as Google. Do keyword research to determine the topics, then produce quality, engaging videos to rank on YouTube.
What result should you expect? Improving your brand recognition and human traffic increase.
Participate in Online Communities
No doubt Google is cool. It can answer any question in any language. Though sometimes you want a personalized answer that grounds on individual experience or you don't need a definite answer, you just want to discuss a particular topic.
Where do you go when you need the above? To an online niche community.
Online communities like Reddit, Facebook groups, Slack communities, and others are places where people sharing similar interests gather. Here, they can discuss relevant topics, ask questions, share problems, banter and make friends. There is a community for every topic you can imagine including coworking of course.
Join coworking communities if you want to reach your target audience. Most popular of these sites receive millions of visitors a month. Have your finger in the pie and drive them to your website.
For instance, Reddit enjoys around 1600 million unique visitors a month.
I tell you this because want you to understand the power of communities. I advise to share your coworking space running tips regularly and participate in discussions.
Here are a few guidelines as to coworking marketing strategies/principles applicable to online communities.
- Every online community has its rules. Read them and follow. If you flout the rules, moderators will kick you out or even ban.
- Don't try to sell and pitch all the time. No one likes a community member whose only goal is making money. You must focus on adding value.
- Build trustworthy friendly relationships with members. Become a valuable community member by participating in the discussions and contributing.
- Follow anti-spam policy. You can't just enter a group, drop a link to your website and leave. This will lead you straight to the ban.
I don't say that you can't promote your coworking space. But you should establish yourself as an authoritative member and only then start your gentle marketing campaign.
Promote to Industry Influencers' Audiences
Many people in the coworking industry have already built a large audience of loyal readers, listened and viewers.
You can reap the benefits of their efforts. By partnering with influencers you get the chance to expose your brand, service, and message to an entirely new audience.
How can you accomplish this? Offer them awesome content. They built their audience from valuable content, which is a tough job. Convince them that you are great in producing content and they will be happy to introduce you to their audience.
So, how can you contribute to influencers' content? Appear on their podcasts, webinars, present at a conference, become a guest editor on an email newsletter, or guest blog to share your expert tips. You see, there are lots of ways to partner with influencers.
Where should you start? Begin by building a list of influencers you dream to collaborate with, find their email addresses. When this is done send a highly personalized outreach email to figure out if they are willing to work with you. Your chances for success will significantly increase if you show them what’s in your offer for them.
Over to You
The goal of this blog post was to give you a clear understanding of the first steps in creating a marketing funnel for your coworking space. First of all, you need to tell people about your business — build brand recognition. This is the basis for your sales funnel. You can build nothing without a good foundation, isn't it?
Do you have questions on the marketing strategies mentioned above? Want to see a bigger picture of the whole process? Refer to the Lead Generation Funnel Infographic from Albacross.
Maybe you are eager to share your own tips on how to boost brand awareness? Let's talk in the comments!