Zenquest Digital is a Bangalore based Digital Marketing Agency which helps companies, CEOs and CMO’s increase brand awareness, drive more leads & increase profits with AI Driven, measurable Digital Marketing.
How We Helped A Singaporean Co-Working Space Fill Over 70% Seats In 90 Days With Guerrilla Digital Marketing Strategies.
Scenario: Co-working space was in a central location, pitted against 2 well-known, funded competitors that have all the facilities, but are expensive. This space was cheaper, newer and better – and they wanted to tap into freelance and small businesses within that particular area
Strategy: Put together free simple training events centred around Entrepreneurial challenges, Finance Management, Marketing, etc over a 12 week period.
Goal: At the end of each session, the co-working space would do a presentation – explaining the benefits of co-working, comparing themselves with competitors and offering event-only special offer (tour + trial).
Marketing: We ran Facebook Lead Generation campaigns for each event every week (that happened on evenings), and filled up the space with a minimum of 30 entrepreneurs. (Since the events were about business challenges, and NOT how to build a startup – we had people who were already in business attend).
Out of 55 leads we generated per event, at a cost of $2.5 each, we would end up having about 30 participants.
Conversions: From the 30 participants that attended the program, about 7 – 10 of them would book a tour at the end of the session for the subsequent week, and their sales team would close 3 sales with each customer bringing in a team of at least 3 – 5 people.
End Result: Over a 12 week period, 387 people attended the events, for which we had to generate – 610 leads at a price of $2.67 – amounting to $1628.70 in paid ads spend.
- 387 attendees resulted in almost 90 – 100 tour bookings, which in turn ended up bringing in 30 NEW customers for the co-working space.
- Their capacity at the end of the 12 weeks, was full – with 137 members (almost a 70% capacity) at a monthly retainer of roughly $300ish per member.
- That’s about $40,000 a month in revenue – plus a quasi social effect from their brand reaching out to this many people.
- To pull of 12 events and to bring in experts, they did spend some money, but it ended up bringing in a lot more in backend revenue over a period of time.
What made this strategy work incredibly well?
Our real-live physical events – immediately created visibility for the co-working space, and got prospects to experience the space in real-time.
The topics were really relevant – so even though they were free, the only people who would bother attending them were people who may need a co-working space (our target customers).
To get people to take up the offer right away, we offered a tour and a trial package for 7 days – absolutely free (with a small security deposit).
The 7 days when people went in for a trial, the space was so addictive – that customers were hooked and didn’t want to leave.
The metro connectivity in Singapore also helped attract customers from far-away locations who didn’t mind the 20 – 30 minutes of additional travel.