Use discounts and promo codes as marketing tools for your coworking business

Coworking spaces often operate with tight margins. Pricing is already set to reflect the value of what you offer — community, flexibility, and a workspace designed to foster productivity. It’s not about being the cheapest option in town. 

So when we talk about discounts and promo codes at Coworks, we’re not talking about joining a race to the bottom. 

Instead, think of discounts and promo codes as strategic tools in your marketing toolkit, meant to be wielded carefully for maximum impact. It’s not about slashing prices to draw people in. It’s about creating moments of opportunity that encourage potential members to experience your space and build loyalty among current ones. 

When used wisely, these tools can help you engage your community, attract new members, and create excitement—all while maintaining the premium value of your coworking space.

You already know the value of creating a welcoming and dynamic space that attracts new members and keeps current ones coming back. But what if you could add one more layer to that? What if you could strategically use discounts and promo codes to help grow your community, boost engagement, and spark excitement in potential members? 

Discounts and promo codes help not only market your coworking space but also enhance the overall experience for your members.

Not just about saving money

First things first: discounts and promo codes aren’t just about slashing prices. It’s about giving someone a little nudge to say, “Hey, we see you, and we want you to try this out.” 

Whether that’s a new member who’s been on the fence about signing up or an existing member who deserves a little appreciation, these tools give you an opportunity to make people feel special while driving your business goals.

But how do you make these tools work for you without feeling like you’re undercutting your value? Here’s how to do it right.

Live and grow by the code

A discount code is like a Swiss army knife in your marketing toolkit. These are created by you or your team and can be applied internally to a new or current member’s plan or invoice. 

 Some of the flexible ways to use discount codes:

1. Day passes: Offer a discount code for someone to try out your space for the day. It's a great way to turn a passerby into a loyal member.
   
   
2. Membership sign-up: Sweeten the deal by offering a discount to those who sign up for a membership. Maybe the first month is discounted, or you create a special rate for annual sign-ups.
   
   
3. Permanent, one-time, or repeating discounts: You can offer discounts that stick around for a while, or use them as a one-time incentive to create urgency. You could even build in a repeating discount for a limited time, so members stay longer to continue enjoying the perks.
   
   
4. Custom expiration dates: Discounts don’t have to be open-ended. Setting a “redeem by” date or expiration can create a sense of urgency without being too pushy. It's all about finding that balance between enticing and exclusive.

The real beauty of discount codes? They’re saved and stored in your coworking software, so instead of adding a manual line item for your team to track, it’s all automated. This means your team spends less time tinkering with invoices and more time engaging with the community.

For example, Imagine you just opened a new floor, and you want to encourage members to try it out. You can create a one-month discount on day passes for current members to use that new space. It’s a low-pressure way to get them to explore more of what you offer, while internally managing the discount without a fuss.

Create a buzz beyond your walls with promo codes

Promo codes, on the other hand, are your ticket to reaching people outside your immediate community. These are designed to entice non-members—whether they’re booking external events, signing up for day passes, or considering membership.

Here’s where the magic of promo codes comes in:

• Unique codes or specific discounts: A promo code can be a specific word or string of characters that you can share through emails, social media, or during events. For example, “WELCOME50” could give non-members a 50% discount on their first day pass.
  
  
• External bookings: Running an event at your space? Give attendees a promo code for a discount on their next booking or coworking day pass. This not only encourages repeat visits but introduces them to the full range of what your space offers.
  
  
• Customizable usage limits: Promo codes let you control how many times they can be used, whether it’s a one-off for a specific person or a code that can be redeemed by a hundred new visitors. You can easily tie these codes to specific offers without having to redo all your pricing structures.
  
  
• Expiration dates: Just like discount codes, you can add an expiration date to a promo code. It’s a subtle way to create urgency without feeling salesy. Think of it as a gentle nudge that says, “We’d love to have you, but don’t wait too long!”

Let’s say your coworking space is hosting a big event, like a panel discussion on remote work trends. As part of your post-event email, you send attendees a promo code for a discounted day pass. With an expiration date set for two weeks after the event, the promo code encourages them to check out your space sooner rather than later.

Make it all work together with a strategy

So now you’ve got the tools — but how do you actually use them in your overall strategy? Here are some steps to consider when building a marketing plan around discounts and promo codes:

1. Identify your goals

Are you looking to increase day pass sales? Attract long-term members? Boost engagement with current members? Define what success looks like to you, and tailor your discount and promo codes to that goal.

2. Segment your audience

Not every discount should go to everyone. Are you targeting remote workers, small businesses, or freelancers? Maybe you want to offer discounts to specific industries like tech or nonprofits. Promo codes, in particular, are a great way to tailor your offer to specific groups without diluting your brand’s value.

3. Test different offers

One-time discounts vs. recurring? Percentage-based vs. fixed amounts? Play around with what resonates most with your audience. Your coworking software will likely give you some insights on usage patterns, helping you adjust your approach as you go.

4. Promote across multiple channels

Your promo codes aren’t doing any good sitting on a shelf. Make sure you’re getting the word out—email newsletters, social media, partner organizations, even physical flyers in your space. The more places people see the offer, the more likely they are to take action.

5. Track and adjust

Use your space management software to track how your codes are being redeemed. What’s working? What isn’t? This data helps you fine-tune your strategy and avoid giving away too much or too little.

Create value, not just savings

It’s worth saying again that discounts and promo codes should feel like value-adds, not price cuts. Membership in your coworking space is worth every penny, and these tools are simply ways to introduce more people to what you offer. When done right, they create excitement, engagement, and growth — all while keeping your community at the heart of everything you do.

So go ahead, experiment with discount and promo codes in your coworking space, and watch how they help you bring new faces through the door and keep your current members happy. It’s a small move that can have a big impact when done thoughtfully.