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IMPACT OF COWORKING SPACE TO BUSINESS: 

Series 1 :  Ways the Social Media Changed Marketing Strategies

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            In today’s world, social media have become channels for business owners to market their products and services. Together with the proliferation of coworking spaces where people can do their work without commuting to office, social media can reach wider customer base and are more effective in conveying their messages to their target customers. Coworking and online marketing are examples of businesses that have been changing to coincide with the recent trends of technology. Indeed, businesses nowadays must be able to harness the benefits of the internet and social media to gain competitive edge.

***Customer service

            Customer service is one of the most controversial sections of marketing. For years, many businesses have found it difficult to provide the high level of customer service to their clients. The arrival of social media has incredibly change the landscape of customer service. For the first time, customers can directly engage with the business by communicating with them through social media. Interactions between customers and the business companies have become more widespread resulting to greater transparency.

            Social media has indeed benefitted many customers because they can get immediate feedbacks from their customers. For example, on Facebook, customers can rate a restaurant they have just been to from 1-5 stars. They can also provide their comments which are publicly viewed.

According to Philips (2013) businesses have learned that their brand reputation can be improved by being quick in responding to client feedbacks. Thus, with social media they can immediately do thus. By addressing a complaint from a customer on social media, it gives the impression to the customers that the business is sincere in resolving issues and they put the feelings and opinions of their customers as their top priority. As Paquette (2013) has told, “As a result, consumers can see how quickly and appropriately a business responds to customer issues. Now, even angry customers represent tremendous marketing opportunities.”

impact of coworking space
impact of coworking space

Business intelligence

            Traditionally, marketing is also keeping up with the competitors. In social media, doing this has become much easier. Because social media provides almost all the necessary information about a certain brand, competitors can monitor its competitors in a more subtle manner. More than the fact that they can keep track of where a certain business has succeed in its marketing campaign, there are also the potentials of immediately knowing where a certain company failed in its online marketing strategy. As Fita (2016) noted, “By simply observing what tactics have succeeded and failed for competitors, companies can eliminate much of the trial-and-error experience that costs a lot in terms of time and money.”

            The current social media scene does not lack of examples of marketing campaigns through social media that have failed miserably and created tremendous embarrassments to the companies.

            For example, there was the “itsgoodtobeagirl from the American clothing brand Vera Bradley. This marketing campaign received a lot of criticisms and was not accepted positively by the public because its execution was very much flawed. Though it is evident that this Vera Bradley marketing campaign would like to illustrate the unique moments of what it is to be a girl, the problem lies on how the marketing campaign generalize the “girly” things—that not all girls are “girly.”

 

Read more impact of coworking space :

Series 2 :Insights to marketing  , Customized or targeted marketing