When it comes to selecting office space an important component is location. A recent study conducted by Regus shows that 80% of companies globally find proximity to their customer base helps drive business and improve relationships.

. Flexible offices are making it easier than ever to access space that’s closer to customers – whether they’re in new markets around the world, in the busy centers of capital cities or in towns across the country. By diversifying your property offering into flexible space, you can meet (and exceed) client expectations

So where’s the proof that proximity to customers impacts business? Here are three instances:

More productive relationships

The Regus study shows that 77% of businesses find that they understand their customers better when they’re close to them. It’s no surprise that this is a key factor in improving your clients’ business relationships and making them more productive. For up to 50% of respondents, proximity was a main componentin improving products, while for more than 66%, it was key in driving sales.
Better problem solving

Having a good rapport is beneficial when customers are going through a rocky patch. Stronger relationships make problem solving easier for almost 80% of businesses. In China, this figure reaches 95%. When collaborating with customers during particularly challenging times, these customer bonds can be crucial.
Increased retention rates

Regus surveys show that for a global average of 81% of companies physical proximity is a catalyst for increased retention rates. More specifically, our research reveals that up to four in every five companies find that being close to their customers reduces churn.. Studies show that closing a deal with a new customer can be five times more expensive than with an existing one. It pays to retain customers, so offering flexible office space to your clients can help ensure that they keep their customers nearby.