Your app provides multiple opportunities to attract new customers or upsell existing ones to generate more revenue. This article covers what solutions you can use in Spacebring and how to set them up.
There are four types of options you can use for the monetization:
Additional plans with more flexible conditions to gain more members.
Promo codes for various discount types on different resources and services to attract new leads and promote your services.
Recurring add-ons to the membership plans.
One-off services for members and nonmembers outside of the existing plans.
Plans
This revenue model allows for recurring payments, ensuring consistent income from members who require regular services.
We recommend you introduce the following plans with your app.
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 or work from the private office.
Individual freelancers who want access to the space for a limited number of days per month pay cheaper fees than a full-month plan 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:
Create a hot desk with the "Day Passes" option enabled.
Create a plan specifying the number of day passes there and enable "Sign-Up."
Total time: 5 minutes to create each flexible membership plan.
Plans with expiring credits
Such plans include expiring credits which can be used for booking any services in the app.
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 credits balance for a specific period and use credits for anything they like later.
Customers who want to save costs by getting more credits to their balance for the discounted rate.
How it works:
The member or company receives a limited number of credits each period, which they can use to book rooms or any other resources in the app. The credits' value in the app 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:
Set the price for your resources in the app in credits, making it equal to monetary value.
Create plans with different numbers of expiring credits. For example, if 1 ☆ = $10 in your app, 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).
Total time: 5 minutes to create each membership plan with credits.
By creating plans once, you automate them forever since users will be able to sign up for a plan by themselves.
Hybrid offices
Maximize space utilization by offering flexible hybrid offices. It allows you to have more private spaces occupied even if the company has more people than this office allows.
Who needs them:
Companies who are 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 employees decide on which days they work from the office and book seats for themselves on demand. The app keeps track of the number of seats booked and prevents employees from booking more than the daily limit, which helps to control the number of people who can arrive at the office.
How to set it up:
Add all your offices to the Offices page and assign them to companies who take the hybrid office.
Ask company users to book a hybrid office via the app.
Total time: 5 minutes to create each office and 1 minute to assign an office to the company.
Promo codes
Promo codes are powerful tools to drive sales, attract new customers, and promote your space and services. Here are various promo code types you can leverage for 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 for a trial day or discounted first month publicly through your marketing materials and advertisements, including a link to the app page where users can redeem it. Users can redeem the promo code right at checkout in the app when booking a resource or signing up for a plan. The promo code will be valid only once for users who have never purchased that type of resource or service in your app 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.
Total time: up to 5 minutes to create a coupon and a promo code.
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:
Promote the promo code for a seasonal discount in your holiday-specific marketing materials, along with the link to the app page where users can redeem it. Users can redeem the promo code right at checkout in the app when purchasing a resource or service. 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.
Total time: up to 5 minutes to create a coupon and a promo code.
Launch or early bird discounts
Who needs it:
New and existing customers who are 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 during their launch, encouraging customers to try them out and expand their experiences.
Increase your brand exposure.
How it works:
Include the promo code in your launch-related marketing materials and advertisements, along with a link to the app page for redemption. Users can book a resource or sign up for a plan by entering the promo code to receive the discount and pay the reduced price in the app. The promo code will be valid for use only until a specified expiration date.
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., YOGA_TRY) and set the expiration date.
Total time: up to 5 minutes to create a coupon and a promo code.
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 favourite resources and services.
How it works:
Share the promo code for a discount through personalized communication, such as follow-up emails after the first booking, newsletters, or special occasion messages. When users receive a promo code, they can make subsequent bookings or purchases in the app with a discount. The promo code may be valid a limited number of times or for a limited time period.
How to set it up:
Create a coupon for the necessary resource or resource type which you want to promote for repeat bookings.
Create a promo code with the customer's name and set the expiration date or maximum redemption number to define until what date or how many times the customer can use their discount.
Total time: up to 5 minutes to create a coupon and a promo code.
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:
Share the unique promo code for a discount with your partner organization and ask them to promote it. For example, you can print business cards with a QR code linking to your app with the promo code for a discount under it. In return, you may receive a discount for your members from your partner and promote it on the Benefits page. Interested customers of your partner can scan a QR code on the business card and book a resource in your app or sign up for a plan by entering the promo code to receive a discount.
How to set it up:
Create a coupon for the necessary resource or plan that you want to offer at a discounted rate to your partner's customers.
Create a promo code (e.g., FITSPACE) to share with your partner's community.
Total time: up to 5 minutes to create a coupon and a promo code.
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:
Share the promo code for a discount with the specific member, which they can use to refer your space to their friends. Referrals can book a resource or sign up for a plan by entering the promo code to receive a discount in the app. You can track the redemptions and reward the referring member accordingly.
How to set it up:
Create a coupon for the necessary resource or plan that you want to offer to referrals with a discount.
Create a unique promo code for each referring member with their name to easily track their referrals.
Total time: up to 5 minutes to create a coupon and a promo code.
Membership plan add-ons
If you offer additional services in your coworking space, such as parking, lockers, coffee memberships, and cleaning, you can add these services as add-ons to the member's main subscription to collect recurring fees. By offering them, you can enhance the experience for these users, making it a valuable addition to their amenities.
Parking
Who needs it:
All users who need a reserved parking for convenience and time-saving.
How it works:
Members interested in a parking membership contact 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 called "Parking Membership", for example and disable the "Sign-Up"' option.
Add parking lots to your app.
Add a new subscription item and assign any parking space to the member within their subscription.
Total time: 5 minutes to create a distinct plan.
Coffee
Who needs it:
All users who drinks 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 called "Monthly Coffee Membership", for example 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.
Total time: 5 minutes to create a distinct plan.
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 called "Locker Service", for example and disable the "Sign-Up"' option.
Add this item to the member's subscription following these steps.
Total time: 5 minutes to create a distinct plan.
Cleaning
Who needs it:
All individual members or companies who rents an office or room.
How to set it up:
Create a distinct plan called "Cleaning Service", for example and disable the "Sign-Up"' option.
Add this item to the member's subscription following these steps.
Total time: 5 minutes to create a distinct plan.
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 for upselling existing members or nonmembers by purchasing one-off services.
Credit packages
Sell credits of permanent credits to upsell members and retain them for a longer time.
Who needs it:
Users and companies who run out of credits with their plans and want to get more to continue booking rooms or ordering other services conveniently.
How it works:
Members purchase credit packages of any allowed amount via the app and can use them permanently. Nonmembers cannot purchase credit packages.
How to set it up:
Set up the credit system in your app.
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.
Total time: 2 minutes to create a credit package.
Products in Shop
Sell one-off products and services such as food, merchandise, and other options unrelated to the space rental. It allows you to upsell your customers and make their stay at your space even more comfortable.
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. Members can include their expenses in their invoice with the "Pay with invoice" feature. Companies can order food and other helpful stuff for their employees.
How to set it up:
Ask users to make orders only on this page.
Understand what products are popular to provide a better assortment and track your shop revenue regularly on the Analytics page.
Total time: 5 minutes to create each shop product.