How to generate insane revenue from your meeting rooms ?
Updated: Sep 16, 2019
Meeting Rooms are in integral part of your Co-Working Space. People often use them for meetings, brainstorming session or events.
But you will witness apart from this most of the times they are vacant. So how to generate revenue at all times without creating a problem for existing customers. Let’s dive in.
1. Meeting Room Portals : It’s very important to list your inventory out on these portals. There are tons of websites there. Some of the few are Breathingroom.com,meetingbooker.com, spacebase.com etc.
The best part of about these sites is that you can easily sync your existing meeting room calendar with their portal so that there is never a problem of double booking.
Also, listing is quite easy. A few pictures and some details of your meeting rooms. That’s it.
You will keep receiving updates via email whenever a client has booked it.
2. Referrals : Yes, who better than your existing members to refer your space and meeting rooms. They always need more than what they usually have.
You can offer meeting room credits to exists everytime they refer someone to your meeting room. Your happy, the new client is happy and your existing member has never been so happy.
3. Booking on your website /Make it Easier to book : Have your meeting room calendar on your website. Make it easier for them to book it right away. Don’t make them call you, check the availability and then book it for you.
You can even make it easier for existing members to book by keeping a tab outside your meeting room.
Softwares like CoworkingOps, help you easily do both these things. They are an end to end coworking space management platform. Check out more.
4. Discounts and Free meeting room credits : Run Various meeting room discounts for potential clients to at least try out your space.
The more footfall the better the chance of them converting into permanent members/clients. You could also offer free meeting rooms after they reach milestone. Like 1 hr. free on 10 hrs. of booking.
5. Regular Clients : You can try and bring clients which book regularly and often for months. Take for eg: Classes for education, yoga , music learning etc.
They often take batches for month, which will have your space booked for months, specifically on weekends because that’s when they have their classes the most.
6. Night Plans : You can introduce a night plan. You can offer meeting rooms as a night plan to members who specifically use it only in the night.
These are usually people who work according to a different time zone.
This plan generates revenue when meeting rooms are never booked.
7. Meeting room Stats : Coworking Software like CoworkingOps.com help you with detailed report of when your meeting rooms are booked, who books the most, what’s the peak time when they are most occupied which helps you manage your Meeting Room Strategies accordingly.
- Yug Jain