Competing in the Online Dating Space
How does one compete successfully in the hyper-competitive online dating space?
A couple of books provide a valuable perspective: The future of online dating belongs to Visionaries, not Historian.
The first book, “Blue Ocean” by Chan Kim and Renée Mauborgne views the world from the business strategy perspective. It uses the metaphor of red and blue oceans to describe the market universe.
In their language, “online dating” is an example of a red ocean, where products have become commodities and cutthroat competition is turning the ocean bloody red - hence the term red ocean. Those dating companies building strategies around the existing model in this crowded market space will see their prospects for growth (and profits) severely limited.
In contrast, blue oceans denote new innovative approaches to relationship formation, whether in terms of products or positioning. Here, demand is created rather than fought over and there is tremendous opportunity for growth that is both profitable and rapid. Competition is irrelevant because the rules of the game are waiting to be set and the full potential of innovation has not yet been explored. “Virtual dating” is one example of an innovating approach to relationship formation.
The second book, “The 22 Immutable Laws of Marketing” by Al Ries and Jack Trout looks at the world from the marketing perspective, but interestingly its conclusions are very similar. Consider the first three “Laws:”
- It is better to be first than it is to be better.
- If you can’t be first in a category, set up a new category you can be first in.
- It is better to be first in the mind than to be first in the marketplace.
The book advocates success through being the first mover, whereas “follow the leader” is a losing proposition, particularly in a very competitive market. Being the first to recognize - and jump on - a trend is the key to success; while waiting to see if others succeed first before putting your big toe in means missing out.
The bottom line, those who want to compete effectively in the online dating space should look to innovation … not “best practices.”
Hence, the future of online dating belongs to Visionaries, not Historians.
Tags: innovation, Online Dating, strategy, Virtual Dating