Consumer data is an incredibly valuable tool. And it’s my theory that Elon Musk’s purchase of Twitter is a great example of why.
Since November of last year, the conversation around Musk’s $44 billion purchase of Twitter has been virtually endless.
This discussion grew even more spirited recently when the news broke that Musk rebranded Twitter to X—a move which brand agencies speculate lost the company between $4 billion and $20 billion in brand value.
Everyone seems to have an opinion on how Musk has handled the acquisition of Twitter, whether he’s fit to run the company, and whether he’s going to run it into the ground.
Ultimately, he’s publicly stated that he bought the company to create an “everything app.”
And while that seems to be the direction he’s heading, I don’t think it’s the only reason he bought the app.
The $44 billion dollars he spent on Twitter also bought him one of the most comprehensive archives of consumer data in modern history.
Think of it this way: in 2022, Twitter had nearly 369 million users. Today, these users produce around 200 billion tweets every single year.
Since the company was founded in ‘06, it’s probably save to assume that Twitter users have produced tweets numbering in the trillions.
Twitter is literally an encyclopedia of online dialogue and public sentiment throughout the past two decades.
People tweet about:
And Twitter has archived every single one of these tweets.
So, how can a businessman like Elon Musk use this data and these insights? The opportunities are virtually endless—including using his understanding of what people are talking about, how, and why to inform his business strategies, market and advertise his companies more effectively, and—of course—fuel his artificial intelligence company, xAI.
Musk has done this before. As Kevin O’Leary pointed out, Tesla isn’t a car company—it’s a data company. Every mile a Tesla drives is archived into a database of mapping for autonomous cars.
So, what’s my point and why is this relevant to the flexible office industry?
My point is that Elon Musk’s $44 billion purchase of Twitter speaks—at least to some degree—to the value of having access to consumer data.
It’s such an incredibly powerful tool.
And, as a coworking space operator, using data about your target audience is critical to helping you supercharge your marketing efforts and bring in new members.
So, it’s important to make sure you’re collecting and organizing data at every opportunity, including:
By tracking and organizing this data, you can supercharge your content marketing and make your space stand out from the competition.
Here are a few ways you can do it.
By analyzing member and lead information, preferences, and behavior, you can create detailed member personas.
This lets you create strategic content pillars and tailor your content offering to the specific needs, interests, and challenges of your target audience and members.
You can tailor your blog, email, and social media marketing to focus on topics that are meaningful to your audience in a tone that resonates with them.
You can also tailor your website copy to be sales-driving based on what’s actually relevant to your target audience.
You can use data about your members to make them feel more connected to your space.
Think about things like automating annual emails to wish them (or their kids or their pets) a happy birthday or sharing their successes on your channels.
The opportunities are endless.
Utilize data on your individual members' interests or industries to send personalized content like newsletters, blog posts, or event invitations that directly align with their needs.
For instance, you can send targeted emails to real estate agents talking about why flexible office space is an ideal solution for them—without inundating non-real estate pros with information that isn’t pertinent to them.
Understanding where members consume your content (such as email, social media, or your blog) allows you to tailor your content strategy to connect with them in the ways and places where they’re spending time.
Host and promote community events, workshops, or networking sessions based on what’s actually meaningful to your members.
Then, share highlights from the event on your blog, email, and social channels.
By tracking how members engage with content (e.g., click-through rates, likes, shares), you can continually refine and optimize content strategies to improve engagement.
To learn more about how to do this, check out my article on the topic.
Encourage and utilize member-generated content, such as testimonials, case studies, or guest blog posts. Sharing real stories and experiences builds a sense of community and authenticity.
You can also identify members who are influencers, thought leaders, or experts in their field and collaborate with them on content creation. This not only enriches the content but strengthens community ties and creates shareability—putting your space in front of net-new audiences.
Regularly solicit feedback on content through surveys or direct engagement to understand what resonates with members and what needs improvement.
You can even use this type of content marketing as a feedback mechanism to improve your space and operations.
Consumer data is an essential tool for building successful businesses. Just ask Elon Musk.
But you don’t need to spend $44 billion dollars to get data about your members and target audience.
You have an abundance of opportunities to gather these insights. You just need to make sure you’re collecting and archiving them effectively—then using them to your advantage.
If you're interested in putting the power of content marketing to work for your coworking space, contact us today for a free consultation.