205. It's Summer in Coworking. 6 Things You can do to Stay Productive Until your Members Return in the Fall.

IN THIS EPISODE, I DISCUSS:

It's summer in the northern hemisphere, so your coworking space is likely getting quiet as parents deal with summer camp schedules, kids at home, family vacations, and more time off in general. While we're all celebrating the reclaimed freedom to move about the country, we cringe at a quiet coworking space. Distract yourself by doing the work now to welcome back members and top off your membership in the fall.

On this episode, we cover 6 summer to-do's that will have a fall ROI when it comes to member acquisition and retention.

  1. Take time off! Being an entrepreneur is all-consuming. Rest and recharge to be your most effective. The best time to take time off is when your space is a bit quieter!

  2. Optimize your website. Your website must be converting leads to fill your space back up post-summer break.

    1. Listen to episode #201: You know what you’re selling, but do your potential coworking customers?

    2. Listen to episode #194: The Importance of Walking in your Coworking Customer’s Shoes

    3. Listen to episode #151 Internal vs. External Problems - Which Ones do you Solve?

  3. Set up your CRM.

    1. Just pick one. I recommend PipeDrive. My Flight Group and Mentor Proram members use it and like that it aligns well with the coworking sales process. Don’t be afraid to stick to spreadsheets if your space is smaller and doesn’t warrant software investment.

    2. Get your lead management workflow documented on paper first.

    3. Then transfer your workflow to your CRM.

  4. Calculate your CLTV and get super clear on who you want to attract in the fall and how much you want to spend on ads.

    1. Calculate your customer lifetime value by product type.

    2. CLTV = average monthly revenue * average number of months a member stays

    3. Based on your CLTV, what can you comfortably spend on ads or other marketing to acquire a customer?

  5. Create a customer acquisition plan for August/September.

    1. Listen to episode #135: Kevin Whelan Shares a 5 Step Framework to creating a Strategic Marketing Plan for your Coworking Business

    2. Run ads

    3. Referral program -  Ask for emails so that you can control the sales process.

  6. Map out your customer success journey and put systems in place to execute it in September.

    1. Listen to episode #190: Onboarding New Members with Intention for Retention

    2. Create a member events calendar. Listen to episode #135: A Five Step Framework for Developing your Member Events Calendar

      • Personal events - social, networking, personal development

      • Professional events - training, lunch and learn, boot camps, etc.

    3. KPI tracking - what drives member retention? Track these factors with your team.

Would you like 1:1 from the Everything Coworking team to get ready for the fall? Learn more about our mentor program.

Looking to connect with other podcast listeners? Join us in the Everything Coworking Facebook Group!

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Podcast, Coworking Industry, Community, SalesJamie RussoCoworking Space