WeWork, founded in 2010 by Adam Neumann and Miguel McKelvey, revolutionized the concept of shared workspaces and became a pioneer in the coworking industry. The company’s mission was to create environments where people and companies could come together to work, innovate, and grow. What started as a single location in New York City’s SoHo neighborhood quickly grew into a global phenomenon, reshaping how we think about office spaces and work culture.
The core idea behind WeWork was to provide flexible, community-oriented workspaces for entrepreneurs, freelancers, startups, and even large corporations. This model addressed a growing need in the market, as traditional long-term office leases were becoming less appealing to many businesses, especially in the face of rapidly changing economic conditions and work preferences.
WeWork’s approach to office design was a significant departure from conventional corporate environments. Their spaces were characterized by open floor plans, glass walls, and communal areas designed to foster collaboration and creativity. The company placed a strong emphasis on aesthetics, with each location featuring contemporary design elements, comfortable furniture, and plenty of natural light. This attention to design wasn’t just about looks; it was part of WeWork’s strategy to create spaces where people genuinely wanted to spend time.
One of the key factors that set WeWork apart was its focus on building a sense of community among its members. The company organized networking events, workshops, and social gatherings, creating opportunities for members to connect, share ideas, and potentially collaborate. This community-centric approach was a major selling point, especially for small businesses and freelancers who might otherwise feel isolated in traditional office settings.
WeWork’s rapid expansion was nothing short of remarkable. By 2019, the company had grown to over 800 locations in 124 cities across 37 countries. This aggressive growth strategy was fueled by billions of dollars in investment, primarily from SoftBank’s Vision Fund. The company’s valuation soared, reaching a peak of $47 billion in January 2019, making it one of the most valuable startups in the world at the time.
The WeWork model extended beyond just providing office space. The company ventured into various adjacent businesses, including WeLive (co-living spaces), Rise by We (fitness centers), and WeGrow (an elementary school). These initiatives were part of WeWork’s broader vision to reimagine not just how people work, but how they live and learn as well.
However, WeWork’s journey hasn’t been without significant challenges. The company’s planned IPO in 2019 brought intense scrutiny to its business model, governance structure, and financial health. Concerns were raised about the company’s massive losses, complex corporate structure, and the behavior of co-founder Adam Neumann. This scrutiny led to the postponement of the IPO, a dramatic reduction in the company’s valuation, and significant changes in leadership, including Neumann’s departure as CEO.
In the wake of these events, WeWork underwent a significant restructuring. The company refocused on its core business of providing flexible workspaces, divesting from many of its auxiliary ventures. Under new leadership, WeWork worked to streamline operations, reduce costs, and move towards profitability.
The COVID-19 pandemic in 2020 presented another major challenge for WeWork, as lockdowns and remote work policies dramatically reduced demand for office space. However, the pandemic also highlighted the potential value of flexible workspaces in a world where traditional office arrangements were being reconsidered. As companies began to explore hybrid work models, WeWork positioned itself as a solution for businesses looking for more flexible office arrangements.
Despite its challenges, WeWork’s impact on the commercial real estate industry and work culture has been substantial. The company popularized the concept of coworking spaces, influencing how both startups and established corporations think about their office needs. WeWork’s emphasis on design and community has raised expectations for what a workplace can and should be, pushing many traditional office spaces to evolve.
As of 2024, WeWork continues to be a significant player in the coworking industry, though with a more focused and pragmatic approach than in its early years. The company has adapted its offerings to meet changing market demands, including options for private offices and custom build-outs for larger corporate clients. WeWork has also invested in technology to enhance the user experience, including apps for booking spaces and networking with other members.
The WeWork story is one of innovation, rapid growth, challenges, and adaptation. It serves as a case study in the potential and pitfalls of disruptive business models and the importance of sustainable growth strategies. While the company’s future trajectory remains a subject of interest in the business world, there’s no denying that WeWork has left an indelible mark on how we think about workspaces and the nature of work itself in the 21st century.
Marketing Strategies of WeWork
WeWork, a company that revolutionized the coworking space industry, employs a range of marketing strategies to attract and retain members, differentiate itself from competitors, and sustain growth in a competitive market. Below is a detailed exploration of the key marketing strategies that have contributed to WeWork’s brand and business success.
1. Brand Positioning and Identity
WeWork’s brand positioning and identity are all about creating a community-driven workspace where creativity, collaboration, and innovation thrive. Instead of just being a company that rents out office space, WeWork has branded itself as a global platform for creators. The tagline “Do What You Love” encapsulates this ethos, positioning WeWork as the place where people can pursue their passions while surrounded by like-minded individuals. This isn’t just a workspace; it’s a lifestyle choice that appeals to freelancers, startups, and even established companies looking for more than just a desk and a chair.
WeWork’s identity is further reinforced through the design and vibe of its spaces. Each WeWork location is crafted to reflect the brand’s values—think open layouts, chic interiors, and communal areas that encourage interaction. They’ve turned the mundane office into a vibrant, dynamic environment that feels more like a tech startup’s headquarters than a traditional workspace. For instance, WeWork’s locations in tech hubs like San Francisco and New York are designed to resonate with the creative and entrepreneurial spirit of those cities, offering unique amenities like meditation rooms and rooftop lounges.
Real-life examples of WeWork’s brand identity in action include their Creator Awards, an annual event series where WeWork members can pitch their ideas for a chance to win funding. This initiative doesn’t just reinforce WeWork’s commitment to supporting its community; it also positions the brand as a champion of innovation and entrepreneurship. Campaigns like “Made by We,” which launched pop-up shops showcasing products from WeWork members, further highlight how the brand is more than just a workspace provider—it’s a platform that empowers its community.
Moreover, WeWork’s rebranding efforts post-2019 have emphasized stability and maturity, shifting the narrative from aggressive expansion to sustainable growth and member satisfaction. This is evident in their new messaging, which focuses on providing reliable, flexible office solutions that adapt to the changing needs of businesses. This strategic shift has helped WeWork reestablish its identity as a dependable partner for companies navigating the future of work .
2. Community-Centric Marketing
WeWork’s community-centric marketing strategy is all about fostering connections and creating a sense of belonging among its members. Unlike traditional office spaces, WeWork doesn’t just offer a place to work—it offers a place to connect, collaborate, and grow. This focus on community is what sets WeWork apart, transforming its spaces into dynamic hubs where professionals from diverse industries can come together. The idea is simple but powerful: when people are part of a thriving community, they’re more likely to succeed, and that success reflects positively on the WeWork brand.
One of the most significant aspects of this strategy is the variety of events and workshops that WeWork organizes for its members. From networking events and skill-building workshops to wellness sessions and social gatherings, these events are designed to bring members together and foster collaboration. For example, WeWork Labs is a global innovation platform that helps startups and small businesses scale by providing access to mentorship, networking opportunities, and exclusive events. These events aren’t just about business; they also include yoga classes, happy hours, and even music performances, ensuring that the community vibe stays strong.
A real-life example of WeWork’s community-centric approach is their Creator Awards, an annual event series where members can compete for funding and resources to grow their businesses. This initiative not only empowers members by providing financial support but also strengthens the sense of community by celebrating the achievements of WeWork’s creators. The “We, Together” campaign, launched during the pandemic, is another example where WeWork highlighted stories of resilience and collaboration within their community, reinforcing the idea that even in challenging times, the community can thrive together.
WeWork’s community-centric approach extends to its digital platforms as well. The WeWork Member Network app is a tool that allows members to connect with each other, share resources, and collaborate on projects. This app serves as a virtual extension of the physical community, enabling members to stay connected and engaged even when they’re not in the office. It’s an integral part of WeWork’s strategy to maintain a strong, interconnected community, no matter where members are working from.
By putting the community at the heart of its marketing strategy, WeWork creates a unique value proposition that goes beyond just providing office space. It’s about offering a supportive environment where members can thrive both personally and professionally, and that’s a message that resonates deeply in today’s work culture. This approach has not only helped WeWork build a loyal member base but also differentiated it in a crowded market of coworking spaces.
3. Experiential Marketing
WeWork’s experiential marketing strategy focuses on providing potential members with immersive experiences that highlight the unique value of its coworking spaces. A key aspect of this strategy is free trial days and open house events, where prospective members can experience a day in the life at WeWork. These events allow individuals and businesses to work from a WeWork location, attend community events, and interact with current members, giving them a firsthand look at the collaborative environment that WeWork fosters. This approach helps to convert visitors into loyal members by offering them a taste of the vibrant community and dynamic workspace that WeWork is known for.
Another example of WeWork’s experiential marketing is their creative pop-up coworking spaces in various cities. For instance, WeWork has hosted pop-ups in places like New York City and London, where they temporarily set up coworking spaces in unexpected locations, such as art galleries and outdoor venues. These pop-ups are designed to draw in curious locals and travelers, offering them a unique and engaging way to experience WeWork’s offerings. By placing these pop-ups in high-traffic areas, WeWork not only boosts brand visibility but also attracts a new audience who might not have considered coworking spaces before. These experiences are integral to WeWork’s strategy of making potential members feel connected to the brand before they even sign up
4. Digital and Social Media Marketing
WeWork’s digital and social media marketing strategy leverages the visual appeal of platforms like Instagram to build and maintain a strong brand presence. Recognizing Instagram’s power—where 92% of influencers consider it their top marketing platform according to Nielsen—WeWork has masterfully used this channel to showcase its global workspaces. With over 407k followers on Instagram, WeWork’s strategy is simple yet effective: it focuses on “we” instead of “me,” emphasizing community over individualism. The brand’s Instagram feed is filled with stunning visuals of its offices, bustling with life and creativity, making anyone who scrolls through think, “Who wouldn’t want to work here?”
WeWork’s Instagram game is not just about beautiful pictures; it’s about telling a story and engaging with the audience on a deeper level. They frequently post content that aligns with their brand’s mantra: “Make a life, not just a living.” From tagging locations to increase engagement to collaborating with influencers who take over their stories, WeWork has tapped into every aspect of Instagram’s algorithm to boost visibility. For instance, when they expanded into India, their Instagram stories featured pujas and other cultural ceremonies, blending local traditions with their global brand image. This focus on localized, culturally relevant content helps WeWork connect with audiences in diverse markets. Moreover, by posting 2-3 times a day, they ensure that their content consistently pops up on followers’ feeds, keeping the brand top-of-mind
5. Strategic Partnerships and Collaborations
WeWork’s strategic partnerships and collaborations are a cornerstone of its marketing strategy, allowing the brand to expand its offerings and provide additional value to its members. By teaming up with companies like Amazon Web Services (AWS), WeWork enhances its appeal to startups and tech companies. For example, through WeWork Labs, members can access AWS credits, technical support, and mentorship, making it easier for small businesses to scale up. This collaboration not only adds a layer of valuable resources to the WeWork membership but also strengthens WeWork’s position as a critical player in the startup ecosystem.
Another smart partnership is with Uber, where WeWork members get discounts on rides to and from their coworking spaces. This collaboration highlights WeWork’s commitment to enhancing the overall member experience by addressing practical needs like transportation. Moreover, WeWork has also partnered with companies like Slack and Google to integrate cutting-edge technology into their workspaces, offering members seamless access to communication tools and cloud services. These partnerships are all about adding value to the WeWork experience, making it not just a place to work, but a comprehensive solution for modern businesses
6. Flexible Membership Plans
WeWork’s flexible membership plans have been a game-changer in the world of office space, offering everything from hot desks to private offices with a “choose your own adventure” vibe. Their “We Membership” starts at just $29 a month, perfect for the digital nomad who needs a occasional pit stop between coffee shop work sessions. But the real kicker? The “All Access” plan, launched in 2020, which for $299 a month lets you bounce between WeWork locations like a ping-pong ball in a hurricane. It’s been a hit with the work-from-anywhere crowd, with WeWork reporting a 65% increase in All Access memberships in Q3 2023 compared to the previous year. And let’s not forget “On Demand,” WeWork’s answer to the commitment-phobe’s prayer – pay-as-you-go access to workspaces and meeting rooms.
But wait, there’s more! WeWork’s “Enterprise” solutions have been turning heads in the corporate world, offering customizable office spaces faster than you can say “traditional lease.” Take Mastercard, for example. In 2022, they ditched their stuffy old HQ for a WeWork-powered “Priceless Planet” themed office in New York, complete with living walls and a carbon footprint tracker in the lobby. The flex-appeal doesn’t stop there. WeWork’s “Space-as-a-Service” platform, launched in 2023, lets companies like Salesforce design their dream office layout online, then bring it to life in a WeWork building. It’s like The Sims, but for Fortune 500 companies. And for those who like their flexibility with a side of exclusivity, there’s “WeWork Labs” – an incubator program that’s been nurturing startups faster than a greenhouse on steroids.
7. Global Expansion and Localization
WeWork’s global expansion and localization strategy has been pivotal in establishing its presence in key markets around the world. Starting with just two locations in New York City in 2011, WeWork rapidly expanded to over 800 locations in more than 120 cities globally by 2019. This aggressive growth strategy was driven by WeWork’s mission to create a worldwide network of workspaces that cater to the needs of modern businesses, from startups to large enterprises. However, WeWork didn’t just copy-paste its model across the globe; the company strategically localized its offerings to resonate with local markets. For instance, in Tokyo, WeWork partnered with SoftBank to adapt to Japanese business culture, offering spaces designed with both Western and Japanese design elements, and including private spaces, which are more in line with local work preferences.
In India, WeWork collaborated with Embassy Group to create coworking spaces that cater to the country’s rapidly growing startup ecosystem. They introduced features that reflect local preferences, such as prayer rooms and spaces designed for large group activities, which are important in the Indian context. Additionally, WeWork’s “WeWork India” focused on affordability, offering more competitively priced options to attract small and medium-sized enterprises in the region. This ability to tailor its offerings based on local demands and cultural nuances has been key to WeWork’s success in diverse global markets. By understanding and integrating local needs into their spaces, WeWork not only enters new markets effectively but also builds a strong local community of members who feel that the space is designed with them in mind.
8. Crisis Management and Rebranding
WeWork’s crisis management and rebranding strategy became crucial after the company’s failed IPO in 2019, which led to significant financial and reputational damage. The IPO collapse was largely attributed to concerns over WeWork’s business model, massive losses, and questionable governance under then-CEO Adam Neumann. This debacle resulted in Neumann’s resignation and a dramatic shift in the company’s strategy. To stabilize and restore confidence, WeWork, under the new leadership of Sandeep Mathrani, pivoted its focus from aggressive growth to a more sustainable business model. The rebranding effort was centered around portraying WeWork as a stable, reliable provider of flexible office spaces rather than a hyper-growth tech startup. This shift was reflected in their marketing messaging, which emphasized operational efficiency, profitability, and value for members over the previous focus on rapid expansion and community.
As part of the rebranding, WeWork also restructured its operations, closed underperforming locations, and scaled back some of its more ambitious projects, such as WeLive, a co-living concept. The company’s marketing campaigns began to highlight the practical benefits of flexible workspaces, especially in a post-pandemic world where remote and hybrid work models became the norm. For example, WeWork’s “Great to Be Here” campaign focused on the adaptability of WeWork spaces, offering businesses flexibility in uncertain times. This rebranding effort not only helped WeWork regain some of its footing but also allowed the company to reposition itself as a key player in the evolving workplace landscape, focusing on stability, member satisfaction, and long-term growth.
WeWork’s marketing strategies are a comprehensive mix of brand positioning, community-building, experiential marketing, and strategic partnerships, all aimed at creating a unique and valuable experience for its members. By focusing on flexibility, global expansion, and sustainability, WeWork has positioned itself as a leader in the coworking space industry, attracting a diverse range of customers from freelancers to large enterprises. Despite facing challenges, WeWork continues to innovate and adapt its marketing strategies to meet the evolving needs of its members and the broader market.
Also Read: SoftBank: Revolutionizing the Investment Game Through Vision
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