Competitive Landscape
COMPETITORS: BIG VS.SMALL
Industry giants, Match.com, Yahoo Personal and eHarmony, represent more than 50% of online dating traffic.8 Many of the other competitors are value dating sites that focus on small and distinct member populations based on a single identifying characteristic such as geography, ethnicity, hobbies, politics or religion. However, they offer only one value respectively. As explained below (see Luvmatch's Competitive Advantages), Luvmatch will offer a more appropriate multi-dimensional service.
KEY SUCCESS FACTORS: VALUE-ADDED SERVICES AND VALUE DATING
Value Dating
As industry growth stabilizes and users become more sophisticated and demand more value-added services, value dating is emerging as a key success factor. Industry heavyweights Match.com, Yahoo Personals and eHarmony do not offer value dating, thus providing an opportunity for value companies like Luvmatch.9 In recent years, value websites have gained in popularity.10 The broad and diverse range of value dating sites target interests ranging from conservative politics to wine, and include the following:
Figure 7: Luvmatch's approach to value-dating is value priced.
Value-Added Services and Innovations
Other dating websites have responded to the demand for value-added services by offering such innovations as video chat, mobile dating technology, personality profiles/matching, detailed searching and advanced blocking.
Luvmatch will take advantage of the growing popularity of
value-dating websites by serving multiple values compared to
its single-value competitors
LUVMATCH'S COMPETITIVE ADVANTAGES: MULTI-DIMENSIONAL VALUE-DATING AND VALUE-ADDED FEATURES
People and relationships are multi-dimensional. Singles need a community of multiple interests to find potential mates. To satisfy this sophisticated and nuanced market need, and differentiate itself from the competition, Luvmatch will provide a unique and multi-dimensional service, consisting of the following value-added features:
- a more discerning group of potential mates via background checks;
- a forum to meet members who share common interests via the Luvmatch's communities of interest; and
- friendships with like-minded people even after members have found a partner via Luvmatch's social networking communities.
Luvmatch will further differentiate itself by addressing deficiencies of current competitors with the following value-added services:
- value priced communities;
- detailed searching; and
- relationship coaching (e.g., where to go, what to say, etc.).
Thus, Luvmatch will meet emerging market demand for value dating and value-added services by providing these services in one site. Furthermore, the services that encourage membership after members have found partners will help to ensure long-term revenue streams.
Luvmatch will specifically target and exploit competitor
weaknesses with its value-added services
8 Los Angeles Times, "Looking for your type?" by Susan Carpenter, March 4, 2006.
9 Ibid.
10 CNN.com, http://money.cnn.com/2005/08/18/technology/online_dating/index.htm.
