‘We’re using the coworking collaborative philosophy to unlock marketing data so the independent coworking movement can grow in the face of national brands.’ – Craig Baute
Craig Baute and the Creative Density team are taking an innovative approach to how small businesses like coworking spaces can get valuable data to grow their businesses. They are turning to crowdfunding to focus a whole bunch of small coworking spaces’ resources to act as one unit so everyone will benefit. Through Indiegogo independent coworking owners can contribute $50 to $125 to the their campaign wth an initial goal of $1000. They were fully funded within their first week and are currently at 150% with more time to go.
All of the money that is pooled together through Indiegogo goes to Creative Density and independent coworking’s first long-term marketing campaign in the first month. If they reach their stretch goals then a new space will be advertised each month. By funding a 30+ day campaign Creative Density and the rest of the industry will find out what ads work, what types of images, headlines get people in for tours with over 150,000 ad impressions. This valuable marketing information is then distributed out to all of the space owners that donate money to the campaign.
‘As small coworking space owners we get scared to spend money on marketing because we don’t want to waste any money. This makes us too conservative and allows for bigger national chains to come in and define coworking in our markets.’ Craig explains that by having more data coworking space owners will be more willing to spend money with a higher chance of driving new memberships. This will help independent coworking spaces stay in business and grow and not fall behind in the war of messaging against national brands. ‘It’s in true cowroking spirit of collboration to solve problems.’
This innovative concept goes beyond just coworking and could be a model replicated in other industries. Craig explains that ‘most brick and mortar small businesses like coffee shops or restaurants only compete within their 15 minute radius. This means they could be pooling resources together to get marketing data to compete’ against the bigger national chains. The data is then pooled together as a resource to better their individual marketing at lower costs.
Right now though coworking is charging ahead with this new and exciting approach of working together so small businesses can grow. Check out the campaign and how it progresses.