As with any business, tracking efficiency and ROI is important for coworking spaces.
With more and more companies offering remote positions and with the coworking concept becoming more popular, coworking businesses need to make the most of their space. An access control system lets coworking managers track and measure usage, beyond available desks and offices.
Coworking Metrics to Consider
A sophisticated access control system can be integrated with a CRM to give coworking managers the means to administer, revoke, and track access to a coworking space. The visibility not only creates security for members and managers, but it also provides insight into how the coworking space is being utilized. Here are some behaviors coworking managers should be monitoring:
- No shows. How many access codes are granted and how many go unused? Does this happen on certain days?
- Usage on peak days. What’s the percentage of members that only access the coworking space on specific days? What days see the most access activity?
- Usage during peak times. What times of day are more popular for coworking members? What percentage of members access the space in the morning, afternoon, and/or evening?
Improve Your Coworking Business and Member Experience
Access control systems give quantifiable information about how a coworking space is used. Monitoring this information arms coworking managers with the data to make improvements to their coworking operations.
Determine True Coworking Membership Capacity
Coworking spaces provide flexible work space options for small businesses and freelancers. Because members aren’t obligated to use the space everyday, there are often open seats. Armed with real data about space usage, there’s an opportunity to oversell your membership capacity by a percentage for any given day, knowing that it’s unlikely that every member will show up to use the coworking space. Coworking spaces that are only available for long-term periods of time could also use this information to start offering short-term access. This new offering could bring in extra members during times when the space is being underutilized.
Measure Usage to Price a Coworking Space
Companies usually start by pricing coworking spaces based on costs. With the growing popularity of coworking spaces, it could be a good idea for your coworking business to reevaluate membership prices based on value. Your business could be under-pricing coworking memberships to desks, private offices, and conference rooms. Tracking access and usage in an access control dashboard lets coworking managers get a better idea of what space is more valuable, letting demand drive the price.
Nurture and Upsell Coworking Members Based on Activity
Integrating an access control system with a CRM is not only a way to simplify granting access and sending codes, but it can also be used for nurturing or upselling to coworking members. A scalable access control system gives coworking managers the ability to administer codes on an individual basis, so tracking member usage can be used for a personalized interaction.
If coworking members haven’t used their code in a couple weeks, it might be time to reach out. Maybe a member has been unsatisfied with her experience in a certain space, so a coworking manager can talk with her and offer access to a private office or coworking space that better suits the member’s needs.
Find an Access Control System that Collects Data
Remote Lock’s EdgeState software streamlines access management to coworking spaces. A single dashboard allows coworking managers to control access and monitor usage. Contact a Remote Lock representative to see if EdgeState is right for your coworking business or request a demo of our software.