There are multiple opportunities to attract new customers and upsell existing ones to generate more revenue. This article outlines the solutions available in Spacebring and how to set them up. You can explore these monetization options:
Additional plans with more flexible conditions to attract more members.
Promo codes for various discounts on different resources and services to attract new leads and promote offerings.
Recurring add-ons to membership plans.
One-off services for both members and nonmembers outside of existing plans.
Plans
This revenue model allows recurring payments, ensuring consistent income from members who require regular services. We recommend considering these options:
Flexible memberships
A flexible membership plan offers a set number of day passes per period, which allows users to access the workspace for a limited number of days instead of the entire month. These plans are more affordable than regular hot desk and dedicated desk plans, and they provide greater flexibility to users.
Who needs them:
Companies whose employees have a hybrid schedule and don't need to visit the space every day.
Individual freelancers who want access to the space for a limited number of days per month and pay less than a full-month plan fee for a desk.
How it works: Companies and users receive day passes to their balance, allowing them to book hot desk seats on the necessary dates and conveniently track their day pass balance. When users run out of day passes, they must pay with money to book a hot desk. Anyone can sign up for plans with day passes and receive them to the balance automatically.
How to set it up:
Enable the "Day Passes" switch.
Create a hot desk with the "Day Passes" option enabled.
Create a plan specifying the number of day passes there and enable "Sign-Up."
Plans with expiring credits
Such plans include expiring credits which can be used for booking different services.
Who needs them:
Users and companies who do not need a desk for work and only occasionally need rooms to host meetings.
Customers who want to prepay for the credit balance for a specific period and use credits for services later.
Customers who want to save costs by getting more credits for the discounted rate.
How it works: Companies and users receive credits each period, allowing them to book resources and conveniently track their balance. The credits' value must equal all resources' monetary value (e.g., 1 ☆ = $10). Anyone can sign up for plans with expiring credits and receive them to the balance automatically.
How to set it up:
Enable the "Credits" switch.
Set the price for your resources in credits, making it equal to monetary value.
Create plans with different numbers of expiring credits. For example, if 1 ☆ = $10, then the plan for 50 ☆ can cost $500/per period.
We recommend you set the price with a bigger discount for plans with the biggest number of expiring credits included (e.g. plan with 100 ☆ can cost $900/per period).
By creating plans once and enabling the "Sign Up" switch, you automate the process, allowing users immediate plan sign-ups.
Hybrid offices
Maximize space utilization by offering flexible hybrid offices. It enables more private spaces to be utilized, even if the company exceeds the office's capacity.
Who needs them:
Companies willing to save on costs because not all employees work from the office every day while still providing their employees with a team office and a convenient on-demand seat booking system.
How it works: Company members decide on which days they work from the office and book seats for themselves on demand. The number of booked seats is tracked and prevents employees from exceeding the daily limit, helping to control the number of people arriving at the office.
How to set it up:
Add all your offices and assign them to companies that take the hybrid office.
Ask company members to book a hybrid office via the member web portal or mobile app.
Promo codes
Promo codes are powerful tools to drive sales, attract new customers, and promote your space and services.
Users redeem the promo code right at checkout when booking a resource or signing up for a plan via the member web portal or mobile app.
Here are several types of promo codes you can use to benefit your business:
Trial day or discounted first month
Who needs it:
Hesitant and cost-conscious new customers who might be enticed to try your services and make the initial booking or sign up for a membership plan with a special discount.
How it works: Distribute the promo code publicly through your marketing materials and ads, including a link to the page where users can redeem it.
The promo code with enabled "Limited by First Purchase" property will be valid only once for users who have never purchased that type of service in a specific location before.
How to set it up:
Create a coupon for the necessary resource or plan (e.g., hot desk).
Create a promo code (e.g., TRIAL or FIRSTMONTH50) and enable the "Limited by First Purchase" property.
Seasonal or holiday deals
Who needs it: Customers who enjoy time-restricted deals and seasonal or holiday discounts.
Boosts bookings and sign-ups during low seasons in your space.
Drive more traffic to your space with special holiday discounts.
How it works: Distribute the promo code publicly in your holiday-specific marketing materials, including a link to the page where users can redeem it.
The promo code may be valid only up until a specific date or only for the first X customers to create a sense of urgency.
How to set it up:
Create a coupon for the necessary resource or plan.
Set the coupon maximum redemption if you want it to be valid only for a limited number of customers (e.g., first 40 customers).
Create a promo code (e.g., BLACKFRIDAY24) and set the expiration date.
Launch or early bird discounts
Who needs it: New and existing customers attracted to discounts during the launch of new services or space.
Generate buzz around your space's grand opening.
Attract attention to new resources or services by offering discounts.
Increase your brand exposure.
How it works: Distribute the promo code publicly in your launch-related marketing materials, including a link to the page where users can redeem it.
How to set it up:
Create a coupon for the necessary resource or plan.
Set the coupon maximum redemption if you want it to be valid only for a limited number of customers (e.g., first 40 customers).
Create a promo code (e.g., FIRST_YOGA) and set the expiration date.
Buy-One-Get-One and other discounts on repeat bookings
Who needs it:
New customers who are more likely to make repeat bookings if they are offered a discount after their first booking.
Your existing loyal customers who will be incentivized to book more if provided with a special deal on their favorite services.
How it works: Distribute the promo code through personalized communication, such as follow-up emails after the first booking, newsletters, or special occasion messages.
How to set it up:
Create a coupon for the necessary resource or plan.
Create a promo code with the customer's name and set the expiration date or maximum redemption number to define to what date or how many times the customer can use their discount.
Partnership discounts
Who needs it:
Businesses, organizations, or communities willing to partner and expand their customer base through cross-promotion with you.
How it works: Distribute the promo code to your partner organization and ask them to promote it. For example, you can print business cards with a QR code linking to the member web portal with the promo code for a discount. In return, you may receive a discount for your members from your partner and promote it on the Benefits page.
How to set it up:
Create a coupon for the necessary resource or plan.
Create a promo code (e.g., FITSPACE) to share with your partner's community.
Bring-a-friend referral programs
Who needs it:
Your loyal members who have a large network of friends and are happy to refer your space to them for a special discount.
How it works: Distribute the promo code to the specific member, which they can use to refer your space to their friends. You can track the redemptions of referrals and reward the referring member accordingly.
How to set it up:
Create a coupon for the necessary resource or plan.
Create a unique promo code for each referring member with their name to easily track their referrals.
Membership plan add-ons
If you offer services like parking, lockers, coffee memberships, or cleaning, you can add them as add-ons to members' subscriptions to collect recurring fees and enhance their experience.
Parking
Who needs it:
All users who need reserved recurring services for convenience and time-saving.
How it works: Members interested in an add-on membership contact the administrator. Administrators can include an add-on to the member's subscription by following these steps.
How to set it up:
Create a distinct plan (e.g. "Parking"), and disable the "Sign-Up"' option.
Add a new subscription item and assign any parking space to the member within their subscription.
Coffee
Who needs it:
All users who drink coffee will appreciate a coffee membership which can enhance their productivity and create a more enjoyable work environment.
How to set it up:
Create a distinct plan (e.g. "Monthly Coffee Membership"), and disable the "Sign-Up"' option. Add a specific number of credits.
Add coffee with all its options as a shop product and set the money and credit price. Members will purchase coffee with their credits.
Add a new item to the member's subscription following these steps.
Locker
Who needs it:
All users who need a secure place to store their belongings while coming to your coworking space.
How to set it up:
Create a distinct plan (e.g. "Locker Service"), and disable the "Sign-Up"' option.
Add this item to the member's subscription following these steps.
Cleaning
Who needs it:
All individual members or companies who rent an office or room long-term.
How to set it up:
Create a distinct plan (e.g. "Cleaning Service"), and disable the "Sign-Up"' option.
Add this item to the member's subscription following these steps.
If your member decides to cancel the recurring service for some reason, you can easily remove it from their subscription.
One-off services
This revenue model allows to upsell existing users by purchasing one-off services.
Credit packages
Sell permanent credit packages to upsell members and retain them for a longer time.
Who needs it:
Members and companies who run out of credits with their plan and want to get more to continue booking rooms or ordering other services conveniently.
How it works: Members purchase credit packages via the member web portal or mobile app and can use them permanently.
How to set it up:
Enable the "Credits" switch.
Create credit packages.
Set discounts on credit packages in plans and subscriptions so that your members can save costs on buying a credit package and have the motivation to do so.
Products in Shop
Sell one-time products and services like food, merchandise, and other non-rental items. This lets you upsell to customers and enhance their experience in your space.
Who needs it:
All users who want to get additional services such as food, office essentials, etc.
How it works:
Users make one-off orders by selecting the necessary products. Nonmembers make payments with money online, while embers can include their expenses in the invoice with the "Pay with invoice" feature.
How to set it up:
Ask users to make orders on the Shop page.
Understand what products are popular to provide a better assortment and track your shop revenue regularly on the Analytics page.
