Many space owners are requesting the ability to have Credit Plans aside from the recurring Plans alone. With the competition nowadays, it’s understandable that space owners would look for an opportunity to expand their service offering to cater to the demanding needs of the customers. Thus, we are so delighted to announce that we have released a new feature called Credit Plans.
What are Credit Plans
Credit Plans are rights that you give to your Members where they can use available ‘credits’ to book a particular resource. Credits in coworking spaces are essentially virtual money that members use to book resources such as conference rooms, desks, meeting rooms, and other products that space offers. Upon using the credits, it shall be deducted from the member’s credits wallet upon usage.
Benefits of Offering Credits in your Coworking Space
Advanced Payments and Reporting
Offering the credits system in your space brings payment in advance rather than an invoice that is paid usually at the end of the month. Members are to purchase a Credit Plan with a specific number of credits that can be used at a space to book resources. With the advanced payment, you can forecast the future purchase of members and guide you on the products and services that your members commonly use using their credits. These data are very helpful to determine important business decisions to make especially on catering to the needs of your members.
Flexibility and Simplicity
Space owners have full control over the number of credits they want to sell on a particular Credit Plan. They can even change it from time to time if they see the demand for it from the members. It is also flexible in a way that members have the option to use the credits in booking resources or not. A member can but a number of credits and keep track of how many are used or the remaining balance.
Incentives
You can use credits as compensation if something goes wrong or to improve the experience of an unhappy member. Through credits as incentives, it will help to increase customer satisfaction by providing a certain number of free credits to new members.
See this guide on How to Set Up Credit Plans
Very interesting!