CRM and PRM for the Co-working Generation (IT Toolbox Blogs)

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More than 1 million people will work in co-working spaces in 2017, according to Co-working spaces are beginning to influence how small startups use customer relationship management (CRM) and partnership relationship management (PRM) solutions. In fact, you can expect co-working spaces to influence a whole new generation of CRM solutions because of the unique use cases having so many potential customers and partners under one roof.

CRM and PRM for Co-working Space Providers

By 2020, there will be 26,000 co-working spaces with 3.8 million members, according to CRM providers are on their way to finding a new niche market as the number of co-working space providers large and small proliferate in the United States and around the world. Considering the growth of co-working spaces, CRM vendors are developing product offerings that can help facility management better manage memberships and lead to power marketing initiatives to keep the desks full and competitors at bay.

CRM solutions can power other common management tasks, as well, including:

  • Guest sign-in to the facility, including integration with your credit card processing system;
  • Customer and guest feedback about the state of the facility and your programs; and
  • Membership on-boarding and off-boarding, including exit surveys.

As co-working spaces aim to offer more programs with outside experts and panels, a PRM system can help track and communicate with these various small and large third parties. For example, say that a co-working program wants to have volunteer mentors from the local business community come in to work with their tenants. They can use a PRM solution to manage their relationships with these volunteer mentors.

What will be interesting to see is how the CRM and PRM market as whole responds to the unique needs of co-working space providers. Naturally, CRM start-ups are rolling out offerings that target the unique requirements that operating a profitable co-working space poses. These tools could have an edge over traditional cloud CRM offerings from Salesforce and others because they signal that they need less customization than a traditional CRM platform. However, as co-working remains a dynamic and growing market, major CRM players are bound to target the market at some point.

CRM and PRM for Co-working Space Tenants

CRM and PRM platforms grow in importance for start-ups residing in a co-working space because the nature of these offices promotes partnerships and selling products and services to one another. Using a cloud CRM solution, start-ups can start tracking all the business they do by way of their co-working membership with other tenants and potential customers they meet through co-working space events. Likewise, a start-up navigating all the businesses and potential partnership opportunities in a co-working space could benefit from a PRM solution both for immediate and future partner needs.

CRM and PRM Are the Foundations of Co-working

In so many ways, CRM and PRM solutions are a foundation for a successful co-working experience. The energy these businesses generate for their customers requires the data capture and governance that cloud CRM and PRM solutions provide lest co-working space providers and their customers miss out on potential growth opportunities.

About the Author

WillWill Kelly is a technical writer and analyst focusing on enterprise mobility, Bring Your Own Device, and cloud computing. He has worked as a contract technical writer for clients in the cybersecurity, investment banking, Internet services, and broadband industries. Will’s other areas of technology interest include big data, collaboration, and enterprise social platforms. Will is a Studio B analyst.