According to recent statistics, one out of five relationships begins online. (Ref3) Because mobile and Internet technology have become a fully integrated part of 21st-Century lifestyles, the Internet and online dating agencies are becoming an increasingly valuable tool when beginning a new relationship. The online dating industry generates more than $4 billion a year. (Ref 1) Because of these national trends, a commercial need exists for more intelligent, online dating agencies.
Planning and Positioning a Dating Agency in the Marketplace
Develop a marketing strategy for the new dating service. Establishing a brand identity is one of the most important aspects of starting a new business of any kind. (Resource3) Successful companies are able to differentiate themselves from their competition in order to serve a targeted consumer segment. The first and most important element of creating a dating agency is done on paper, by creating the image and brand identity for the organization.
Decide if the dating agency will be a local agency, seeking to serve a local clientele or a nationwide, Internet-based organization. The marketing and branding strategies for these dating agency styles will be significantly different. The allocation of resources for these two types of organizations will also follow different paths. Therefore before launching the dating agency, decisions must be made regarding the type of agency one wants to establish.
Test your marketing, and brand identity by completing the demographic research. Before committing large amounts of time and capital into a business model, smart businessmen will complete small group studies within the target demographic population. These studies can be completed via online surveys, email broadcasts, Facebook ads or traditional interviews with singles within the target market demographic.
Write a thorough business plan. A business plan is a formal document used to identify the strengths, weaknesses, threats, and objectives of the proposed company. A business plan thoroughly thinks through the income streams and expenses which the projected business will encounter. (Resource2)
Thoroughly identify the revenue, costs, profit centers, and all financial aspects of the new company. In the same way a builder draws blueprints before constructing a new home, smart businessmen verify the profit potential for any new business before spending actual capital, building the new business. This process identifies whether or not this new dating agency will support a sustainable company.
Start Small and Build Slowly
Launch the dating agency to a well-defined target audience. The target audience can be reached most effectively through email and online promotion. Whether building a local or national organization, launched the dating company with a well defined email and social media marketing campaign.
Promote the dating agency through local print and radio media. Targeted radio advertising is one of the most effective ways to reach a specific target audience. (Ref 4) Radio stations attract audiences that are highly segmented. Radio sales staff will know who their audience is and who their advertising campaigns will reach. A radio station's targeted demographic can be matched to reach the targeted profile for the dating agency.
Follow up closely with new customers who choose to use the new dating service. By soliciting objective responses from customers and clientele, the business owners will receive 360 degree feedback for their business efforts. Smart businessmen use these reviews to fine tune their business practices and marketing strategies.
Continue using customer surveys and marketing research as the dating company grows. A successful company must adapt to evolving market dynamics. Especially in the area of relationships, social and cultural changes will shape customers' needs and desires. By receiving marketing research in the form of customer feedback, and the performance of the dating agency, the company can stay relevant in an evolving society.