The Top 5 Growth KPIs for Coworking | Part 5: 'Member Happiness'
Editor's Note: This is a guest post from Ed Blunderfield from Optix coworking software, a digital platform for coworking spaces and smart offices. You can find the first article of the series here. For part four of the series, click here.
It’s impossible to overstate the importance of listening to and learning from your members’ feedback. The people who use your services are willing to share their opinions—it's up to you to create an engaging and intuitive channel to generate insights.
Understanding your coworking members’ experience is an invaluable skill in today’s competitive business environment. By interpreting feedback and effectively tailoring your offering, you can help make your clients happier, and grow your revenue.
Giff Constable, the co-author of Talking to Humans, stresses the importance of not only finding the right people to talk to when looking to improve, but also asking the right questions, and knowing what to do with the answers.
The following is a guide to help you gather feedback from your members using a coworking-specific feedback survey.
Timing is everything
Being thoughtful about when you survey your members can have a dramatic impact on the data you capture. Take, for example, the hospitality industry. Hotels are trying to find the right balance between surveying customers and bothering them, hence why many of them send out shorter, mobile-friendly surveys immediately after a customer checks out. Using basic software, they can automate follow-up emails for those guests who don’t complete the survey after the first email they receive.
Consider the amount of time a given member has spent in your workspace. We recommend asking for this through a question in your member survey, and following up with a tailored set of questions. For example, for members who recently joined, you can specifically inquire about their onboarding experience.
Make it easy to contribute
Once you finalize your questions, you’ll need to focus on designing the questionnaire form itself. We recommend using Typeform, a survey tool used by many of our coworking clients to engage with their members. Survey respondents are known to engage with this well-designed tool more readily because it asks one question at a time through an intuitive interface (bonus—it’s also mobile-friendly)!
After completing the design of your online form, send it out to your relevant members through email and/or by publishing it on your social media channels. In order to protect the integrity of the data and ensure you are only collecting data from the members that you are targeting, you could publish it on a private, member-only portal such as the community feed of an Optix-powered mobile app.
The Optix app allows you to publish these surveys directly on your feed and then send push notifications to all members to increase the response rate.
Immerse yourself in the data
Next comes the most crucial part of this process: Data analysis. In order to complete this step, begin by defining your survey’s KPIs.
One important survey metric is the Net Promoter Score (NPS). This score is gathered by asking the question, “On a scale of 0 to 10, how likely are you to recommend this coworking space to others?” This is a powerful question because it gauges a customer’s overall sentiment toward your service. NPS can also indicate customer loyalty and since they are easy to understand and benchmark, they appear in most questionnaires.
However, the score doesn’t have the in-depth or actionable information that can be gleaned out of open-ended questions. It can also be a very subjective indicator; thus, it’s a good idea to ask a multitude of questions and define a few metrics to align with your overall survey objective.
Immediately following the conclusion of your survey, send out a note of gratitude to your members for their participation. Meanwhile, prepare to communicate the insights gathered from your survey back to your members and jot down how you intend to implement the feedback or the issues that were brought to light.
You can choose to install shorter programs or initiatives during this “feedback implementation process” or spur transformative cross-company action if your results indicate the need for greater change. If you come across particularly critical findings, immediately offer support to help rectify the issue at hand, while you work toward providing a long-term solution.
Some of the most successful brands have made a habit of being curious about their customers. They make sure to regularly check back with their customers and reinvent their service offering. It’s best practice to build out a timeline for subsequent feedback surveys, such as on a quarterly or half-yearly basis.
As a coworking space, forging deeper connections with your members is crucial to your success. If you can keep talking to your members then you can continue to deliver value to them and in turn build a truly successful business.