SM SMALL BIZ -- Feb 13 -- Making a bundle in
the dating industry, isn't easy for a small player competing against
Yahoo! Personals, Match.com
and eHarmony. At PlentyofFish, which now ranks among the top 10 dating
sites in the U.S. for unique visitors, Frind's strategy was simple. "I
undercut them on price," he says. When it comes to the business of
love, newbie entrepreneurs need to figure out a way to stand out in a
crowded marketplace. Here's how:
- Find a Niche
- Undercut the Competition
- Add Value
- Innovate
More narrowly focused niches have begun to surface. i.e. golfmates.com and vegetariandating.com.
The best niche businesses are usually started
by entrepreneurs who have a deep understanding of the community they
want to serve. i.e. Patrick H. Perrine, a
psychologist who spent years studying human sexuality and dating
preferences, launched a gay male matchmaking service in San Francisco
in 2004, and then expanded the service online - myPartner.com — to a
national audience last year. "We discovered
there was no space for gay men looking for a serious
relationship on the web", he says.
To compete with the big guys, Sam Yagan, co-founder of free dating
site, OKCupid.com, offers users the ability to craft their own
personality quizzes, or choose from 30,000 others. The idea behind the
quizzes is that users will share them with their friends who,
in turn, may sign up for the service.
FULL ARTICLE @ SM SMALL BIZ
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