Coworking spaces have evolved far beyond shared workspaces: iSprout

iSprout is a provider of coworking and managed office spaces, offering a variety of workspaces for businesses of all sizes, from freelancers to large corporations. They have multiple locations across India.

Sreenivas Tirdhala, Co-founder and Chief Strategy Officer at iSprout tells us more. Excerpts from an interview:

DQ: How are coworking offices driving experiential marketing for growing businesses?

Sreenivas Tirdhala: Coworking spaces were once seen as quick fixes for freelancers and startups. But, not anymore. They’ve become vibrant hubs where work meets brand experience in the contemporary world. For growing firms, it’s not just about flexible leases. Rather, it focuses on fostering genuine relationships, cultivating trust, and gaining recognition.

Activities such as a coffee meeting, a live demonstration, or a small gathering are all significant. These environments facilitate the kind of interaction that traditional marketing often neglects. Moreover, in a hybrid world, they’re turning into powerful platforms for experiential marketing — right where people work and belong.

At the heart of coworking spaces is a strong sense of community. These spaces are well-known for uniting professionals from a variety of industries and backgrounds. Some of them include entrepreneurs, freelancers, businesses, and corporate teams- all under one roof.

The resulting combination establishes a dynamic ecosystem in which members engage, exchange ideas, and learn from one another. Moreover, these spaces help in building relationships by organising events, social gatherings and seminars. This, in turn, helps in cultivating a sense of inclusion among all professionals. 

This communal environment serves as an effective experiential marketing tool for firms. It naturally attracts potential clients and collaborators.

DQ: How is networking a core aspect of coworking?

Sreenivas Tirdhala: Coworking culture is founded on the principle of networking. As compared to traditional workspaces, coworking fosters spontaneous interactions. As a result, these conversations often spark partnerships and new business opportunities. Not only this, but the access to a diverse professional pool makes coworking spaces invaluable for firms aiming to expand their reach and influence. 

This networking potential translates into tangible benefits for startups and expanding companies, such as strategic alliances, investor connections, or client leads.

DQ: How can one boost brand visibility and credibility?

Sreenivas Tirdhala: A business's credibility can be substantially enhanced by operating from a coworking space. For instance, there are numerous coworking offices that provide high-quality amenities and prestigious professional addresses. They further convey legitimacy to new companies and freelancers. Also, firms can establish themselves as industry leaders by actively participating in community events- allowing them to showcase their expertise.

DQ: How do you see the organic growth of coworking?

Sreenivas Tirdhala: Satisfied members often act as brand advocates. They communicate their favourable experiences both within and beyond the coworking community. Coworking spaces inherently encourage word-of-mouth referrals through their closely linked networks- a potent form of marketing. A strong, positive presence in such environments can accelerate customer acquisition and retention organically. This offers growing firms a sustainable growth engine.

DQ: How do you see the evolution of Indian office culture?

Sreenivas Tirdhala: In the past, the traditional office culture of India was characterised by rigid hours and hierarchical structures. However, the tables have now turned. In recent times, flexibility and innovation have been added as core features in the Indian work culture via coworking spaces. Following this, a surge in coworking adoption is being observed in cities such as Bengaluru, Mumbai, Delhi NCR, and Hyderabad. 

This growth is increasingly driven by the adoption of more agile work models by multinational corporations, freelancers, and entrepreneurs. Consequently, MarketsAndData has projected that the Indian coworking market size will reach USD 1.96 billion by 2032.

In India, coworking spaces are not merely about workstations and Wi-Fi. Instead, they are a reflection of a culture of collaboration and creativity. Various amenities like high-speed internet, ergonomic furniture and wellness programs are being offered to employees- prioritising their well-being. This created holistic environment diminishes burnout, enhances job satisfaction as well as boosts productivity.

In a nutshell, coworking spaces have evolved far beyond mere shared workspaces. These spaces will continue to be critical hubs of professional networking, creativity, and business development in the coming years. For emerging businesses, leveraging the power of coworking spaces is not just advantageous—it’s essential.