Money and More: 7 Impactful Google Ads Goals for Coworking Spaces

No matter what you set out to do in business, setting goals is foundational to being successful at it. And running Google Ads for your coworking space is no exception. 

Before you tee up your ad campaign, you should have a clear picture in mind of what you’re hoping to get out of it.

But here’s where things get interesting: there are a ton of goals you can consider to help make your campaign a shining success—including some you might not even be aware of. 

Here are seven goals to keep in mind from the outset.

Profit 

There’s one universal truth in business: if it doesn’t make dollars, it doesn’t make sense. And that’s why profit is the ultimate goal when it comes to running Google Ads for your coworking space.

After all, generating more profit can help you further your vision for why you opened your space in the first place, whether it’s:

• Giving back to the community
• Creating a safe space for members
• Providing a place that enables others to do their best work
• Enhancing the overall member experience in your space
• Having the freedom to work when and where you want

Profit is a portion of revenue that, from a Google Ads perspective, points to your campaign’s ROI.

But, while profit is the most common and important goal for your Google Ads, it’s not the only one that matters. 

The Good/Cheap/Fast Trifecta

Every Google Ads campaign requires some balance of the good/cheap/fast trifecta. This is also referred to as your lead generation balance, and you generally won’t get all three at once.

So, it’s important to understand which ones to prioritize as they pertain to what you want to achieve with your campaign. 

You can bring in incredibly high-quality leads really quickly at a higher cost per lead. You can also get high-quality leads at a slower pace for a reduced cost per lead. 

Which one you opt for depends on what you want to achieve, but setting a goal is the only way to decide which is best for you. 

Exposure and Awareness

On a fundamental level, the purpose of Google Ads is to:

• Meet potential members when and where they’re searching for your products or services
• Position your coworking space as the ideal option for them
• Inspire them to click through and ultimately take the desired action of getting in touch, booking a tour, or purchasing a specific service 

But your Google Ads can also serve a secondary purpose: generating greater brand exposure and creating awareness of your space. 

Even if someone comes across your ad but isn’t ready to take action yet, your coworking space will still be on their radar.

And, if they click through and book a tour but aren’t ready to sign up yet, you can nurture those leads over time until they decide it’s time to become a member. 

Brand Protection 

You can always count on Google to get creative with the terms that it shows you up for.  Therefore, it’s often that you’ll be bidding on some competitor brand names, and vice versa.  You’ve more than likely come across this when you searched for your own brand, and seen competitors ads show up.

There’s a couple of questions you’ll want to explore:

• Which competitors show up when people search my brand? – are they true competitors?  Both Eerwhon, and Walmart sell bottled water, which at Eerwhon will cost you $26.  Are they truly competitors?
• How often do non-members visit your space?  For example, if you have a flourishing meeting room business, or event space business, bidding your own brand terms can get expensive quickly, due to guests searching for directions.
• How does Google perceive your brand?  More and more, Google will now create some safeguard to avoid advertisers from impeding on your brand name.

If you decide the Brand Protection is a goal of yours after answering the above questions, you can set aside a small budget to target your brand terms.

Benefits Beyond Search 

When you hear Google Ads, you often think of Search.  However, Google goes way beyond search giving your space opportunities to reach perfect-fit members.  

By using Google Ads, you gain the opportunity to be seen on various surfaces including:

• YouTube
• Gmail
• Google Maps
• Display network – including over 2 million websites and apps
• Discover

Going beyond Search allows you to use images, videos and various signals to engage with your target audience, even before they think of searching.

Optimization 

You should aim to set goals for testing, experimenting, and optimizing your Google Ads campaigns rather than adopting a set-it-and-forget-it mentality.

That’s one of the big benefits of Google Ads—they allow you to continually improve performance while also giving you an insightful read on other facets of your business. 

You can test things like:

• Landing page performance in an isolated environment
• Consumer price sensitivity, receptiveness to your product and service offerings, and effectiveness of specific promotions
• Demand for new services, such as podcast studios or virtual office offerings
• Specific calls to action
• Reception to specific images, copy, and page layouts 

The learnings you derive from these tests can help optimize your ads campaigns but can also be used to improve your website, social media, SEO, and more.  

The Other Side of the Equation

On a larger scale, Google Ads can help you understand how well people receive your space itself, how strong your service offering is, and how strong your follow-up tactics are.

Think of it this way…

In most cases, Google Ads drive interested prospects to your door in the form of a qualified lead. But what happens next is entirely up to you.

Once a lead arrives at your space, you need to close the deal.  

Google Ads is only one side of the equation. The other side entails:

• Your space itself
• Your product fit and services
• Your sales follow-up strategy 

At Spacefully, we recommend reaching out as soon as possible. You can do this manually or with automated action.

Many spaces even have a standard operating procedure of trying to get a hold of the prospect in under 30 minutes, much the same way that many retail stores require their staff to greet customers within 30 seconds.

If you’re getting plenty of Google Ads leads but your conversion rates are lower than expected, this may be an indicator that you need to take a look at where you can optimize your space, product fit, service offering, and sales follow-up approach. 

Setting goals for your Google Ads campaigns can help you harness the full potential of your coworking space, both through the revenue that they generate as well as the insights they provide you with that can help optimize the overall performance of your business. 

If you’re feeling unsure about where to start with setting impactful goals for your Google Ads campaigns, speaking with a specialist can be incredibly helpful. And that’s where Spacefully can help. 

Learn how we can supercharge your lead generation by signing up for our Google Ads Blueprint today.