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  • The Golden Age of the Matchmaking Industry, Why You should Start a Matchmaking Business Today

The Golden Age of the Matchmaking Industry, Why You should Start a Matchmaking Business Today

October 28, 2020

  • How companies such as Airbnb, Upwork companies used matchmaking models to build hugely successful businesses
  • Why Matchmaking is a great business opportunity more than ever for entrepreneurs in all industries
  • How to use SmartMatchApp Matchmaking CRM Software to build your matchmaking business

How companies such as Airbnb and Upwork use matchmaking models

These days people demand high quality personal and business relationships but increasingly lack the time to make connections. Therein lies a golden opportunity for matchmaking businesses. From cutting edge business networking software at work to the high-tech AC or Netflix in your home, smart solutions are now an essential part of our daily lives. These modern technologies are everywhere and they play an important role in saving us time, helping us to work, and finding anything we need in the most unexpected ways. A variety of industries started using smart algorithms, database tools and association software to do all the heavy lifting for them, completing tasks in a matter of seconds and catapulting us into the age of instant results with just one click. From online dating software to business contract evaluation, and nonprofit resource distribution to government job matching, the value of connecting people with instantaneous matchmaking software has never been higher. Online platforms from a wide variety of industries have discovered the Holy Grail of modern business networking software in on-demand matchmaking and are now competing against each other in the tireless pursuit of success and prosperity.

And things are only getting better. As mentioned, a vast variety of industries use smart matchmaking algorithms to achieve their goals, be it connecting lovers with online dating software or matching freelancers to clients through business networking. Whatever the industry and whatever the goal, matchmaking is everywhere. Amazon knows what products might get your attention based on your previous orders. Google can finish up your search for you based on what other people have searched before. UpWork matches freelance talent with appropriate clients and jobs as we speak. The ability to provide intelligent suggestions based on two sets of data, what you are and what you are looking for, is what matchmaking is all about. It is database management at its finest, and it is everywhere.

John Mullins, Associate Professor of Management Practice in Marketing and Entrepreneurship at the London Business School, a frequent contributor to the Harvard Business Review and The Wall Street Journal, perfectly describes modern matchmaker models in his article on How Companies Like Airbnb Use Matchmaker Model to Grow Their Business.

John refers to matchmaking as one of the most immense opportunities of our age and counts it among one of the “five types of customer-funded models to raise capital without VC proven to exponentially grow the revenue for mid-market companies”. He states that “By bringing together buyers and sellers, but not owning what is bought and sold, today’s matchmakers grow their companies with virtually no external funding because there is no need to tie-up cash in large amounts of inventory or assets.” Basically, these companies deploy cutting edge data matching and association software to build multi-million-dollar matchmaking businesses with almost no initial costs. There’s no training, no product and no need for hundreds of staff. All you need is buyers, sellers and the software to put them together.

Companies such Airbnb and Expedia are essentially matchmaker companies built on exactly this model along with Uber, TaskRabbit, and Freecycle. All of these matchmaking businesses use modern, cutting-edge data matching software to connect one group of people with another. It’s as simple as that. The actual transaction takes place between the two connected parties, and these businesses simply take a cut as payment for playing the middleman.

Here is a fun screenshot from Growth Institute illustrating the model perfectly:

The list of businesses built on the matchmaking model goes on and on. Renowned and highly successful companies like EventBrite, LinkedIn and even Facebook are making use of matchmaking software and data matching. These are companies that have a massive influence on the day-to-day life of millions of people, and yet the principles on which they function, at least in terms of matchmaking, are fairly simple.

Be that as it may, however, let’s take a look at how well the matchmaking model is being used. We already know that the whole world is jumping on the matchmaking bandwagon, but are these platforms always effective in the process of matchmaking and can they address all the emerging needs and niches?

Why matchmaking is a great business opportunity for you

The good news is that the matchmaker model is not limited to large, international businesses or to any particular industry. In fact, it doesn’t even require technological know-how or programming skills. The so-called ‘long tail effect’ applies seamlessly to matchmaking and means that these cutting-edge association softwares and database management tools are available to entrepreneurs across the professional spectrum. People from all walks of life can use the matchmaker model to build their businesses, leveraging their personal skills and experience and offering highly personalized matchmaking services to their communities. This golden opportunity, the Age of Matchmaking you might say, is here because while the aforementioned platforms have succeeded in automating on-demand data matching, they also have a tendency to overwhelm their customers with high volumes of information, notifications and even spam. Though there is consumer demand for high quality relationships, both business and personal, those same consumers increasingly lack the time and energy to sift endlessly through the realms of information produced by these larger matchmaking businesses.

That's where the emerging need for personal matchmaking comes into play. The generalized, scattergun approach to the matchmaking model just isn’t cutting it anymore and consumers are increasingly turning away from the first-generation matchmakers in favor of more directed, personal approaches. That's where the golden opportunities are for those who are willing to seize them.

Many people think matchmaking is reserved for the dating industry. But this is simply not true. While the dating industry is definitely one of the most successful applications of association software and data matching (see article), a variety of smart matchmaking tools proudly service a large number of industries, from advertising to finance, logistics to government, and nonprofit to healthcare. Matchmaking businesses come in all shapes and sizes, and the use of these kinds of database tools and business networking software is becoming more and more commonplace across the professional world. Entrepreneur magazine published a great article about this very topic entitled “Matchmaking Isn't Just for Dating. It's a Model for Many New Businesses”.

We here at SmartMatchApp want to help our clients make the most of this Golden Opportunity, supplying them with the very best in Matchmaking CRM as they embark on this exciting new venture. But you don’t just have to take our word for it! Do you want to explore how to start a matchmaking business? Here are some detailed examples of how a few of our clients use our smart matchmaking software CRM to achieve high end results and boost their success. Not only that, but to prove that there is far more to matchmaking businesses that you might at first realize, you’ll notice that almost all of these examples come from the outside of the dating industry, presenting a slew of alternative opportunities for the use of smart matchmaking applications.

Examples of businesses that use the matchmakers model with our SmartMatchApp system

In the last few years, SmartMatchApp has seen a large number of entrepreneurs and organizations joining and using our matchmaking CRM software to provide highly-specialized niche matchmaking services to their communities and networks. The variety of our clients never fails to astound us and only further reiterate our commitment to making the most of this Golden Age of Matchmaking. Here are just a few of the ways in which our partners are putting our cutting-edge matchmaking CRM software to good use.

  • Dating matchmaking - Arguably the most well-known application of the model, this type of matchmaking is focused on matching people for personal relationships. It is used by professional matchmaking companies, dating agencies, and relationship coaches to make personal introductions between clients and schedule their dates.
  • Business matchmaking - Business matchmaking is used for making business introductions in any industry. Used by professional matchmaking businesses, this model is deployed to match buyers with sellers, investors with startups, partnerships and more. The idea is to find business deals and opportunities through smart association software and matchmaking CRM.
  • Educational matchmaking - The educational sector is increasingly using matchmaking software to match teachers and tutors with students, and to match academics from various professional fields to relevant universities, schools, corporations, and other educational venues.
  • Social matchmaking - Opportunities for matchmaking in the social environment are abundant. Entrepreneurs match people for friendship, traveling, housing, volunteering, and many other social causes. People are grateful to be in the right spot with the right person next to them, and all of that can be achieved with the matchmaking model.
  • Career matchmaking - Careers and job hunting already make up a huge online and real-world industry, but matchmaking takes it to the next level. Entrepreneurial matchmakers in this field help find matches for employment, mentorship, or training on a granular level and help people advance in their careers.
  • Networking matchmaking - In the increasingly busy and overwhelmed world, matchmaking entrepreneurs personally connect people and businesses from all walks of life based on their interests to build stronger professional or social networks. This can be applied to a wide variety of causes and industries. Matchmaking is all about connecting people, and nowhere is this more important than during networking.
  • Events matchmaking - If you work in the events industry, then adding a matchmaking component to your business is truly a no brainer. It allows you to match events to attendees for a more productive, personal experience in all professional, social and educational contexts. Events become more fun, productive and, crucially, better attended.
  • Associations matchmaking - Associations create more referrals, boost member value propositions, and increase loyalty and engagement with members using a matchmaker model. In our experience, engaging the right members increases an association's revenues and creates new profit channels.
  • Government matchmaking - Some large organizations and governments play matchmaking roles very successfully, helping their communities in such areas as finding work or matching with the right source of education, volunteering, or community service projects.
  • Nonprofit matchmaking - Matchmaking has become mission-critical in times of crisis. Cutting edge matchmaking software allows nonprofit organizations to match intellectual and physical resources worldwide, bringing aid and supplies to those most in need of help faster than ever before, all with the help of matchmaking.

As you can see, smart matchmaking solutions are all over the place, and their applications are only growing in number. As the golden age of matchmaking continues, the demand for cutting-edge matchmaking CRM services will rise far beyond its current levels. That’s the most exciting thing about this story – this is not an opportunity that has been and gone, this is an opportunity that is here right now, just waiting for you to grab it with both hands.

How to use SmartMatchApp Matchmaking CRM Software to build your matchmaking business

Every rapidly growing industry requires a small revolution with breakthrough solutions. SmartMatchApp has been servicing this emerging sector since 2015 and currently supports more than 100,000 users worldwide. Our matchmaking CRM software is loaded with totally customizable matchmaking algorithms which allow users to set their own matching rules within the system. They can create smart interfaces for their clients and adjust client permissions to have access only given to certain pages or fields. Essentially, we help our clients connect people and businesses in whatever way they want. The client is always in control.

The best way to understand what it is that we do is to see it for yourself. Take a look at this example of how we here at SmartMatchApp would go about setting up a smart matchmaking workflow for a client.

  1. The first step is setting up a client interface. At this stage we create questions for a client to fill out about what they are or do, and what they’re looking for. This is the point at which we build our initial database on individuals, ready to be put through our algorithms and matched accordingly.
  2. Next, we look at adjusting deal breakers and field weight rules for what the client wants. Deal breakers will tell the system which values will and won’t lead to instant dismissal of a candidate, while field weights tell the system how important a particular field is for your client. These values will be directly connected to the client suggestions and their relationship success scores. There are three types of field weight, high priority, medium, and low.
  3. After these rules are set and the client provides all the necessary information, suggestions will start to appear in their profiles based on their wants and needs. There’ll be a percentage score to tell you how well they match both ways, along with visual analytic tables to review. These tables will have all the compatible and incompatible data highlighted in green or red respectively.

CRM interface to review a client base screenshot

Mutual introductions from the database screenshot

The range of the system functions and applications is far more advanced than the smart matchmaking algorithms. We focus on developing a simple, user-friendly environment that saves time. Working smart is a one-way ticket to the summit of corporate Mount Olympus, after all. Our team works incredibly hard and with ample love and care to create a one-stop-shop matchmaking CRM software that provides the highest quality of service to many industries and clients around the world.

Just in case you’re not totally convinced that the gold age of matchmaking businesses is now and that you should be a part of the revolution, here is a short list of extra system applications and extended smart features that will be at your disposal with SmartMatchApp.

  • Cloud storage to save important files within your clients’ profiles, from photos and video to documents and archives
  • Customizable web forms to integrate with your website via iframe or have a link for integration with social media account and newsletter campaigns
  • Invoicing capabilities with our Stripe connect
  • Adjustable branding with theme colors and logos, plus white labeling opportunities with your own special URL and copyrights
  • Member portal automation to allow your clients to match by themselves and schedule their own appointments and dates
  • Tailored notifications and reminders to keep you posted regarding the most important updates
  • Client location map to see where every one of your clients is operating from
  • Project management tools with tailored task board and to do list functions
  • Access to our network of other matchmakers that use the database and the ability to connect with them for collaboration
  • Reports that can be completely customized based on the nature of a report
  • Import to the database of the CSV, sheets, and media files from other systems and easy exporting features
  • Ability to make easy introductions between your clients with just a few clicks, and you’re always in control of what information is displayed and what is not
  • Zapier integration with more than 2,000 other popular applications
  • Event management tools and participation monitoring, with custom invitations and feedback options
  • Advanced database search by any field or value, location, and even by a particular keyword within your client biography
  • Editable emailing templates and surveys to send out
  • On top everything mentioned above, our friendly team is always here for you to provide personal training, help you with the system set up based on your requirements, and support you on your adventure through the SmartMatchApp software

We truly live in the most amazing times of information technology and smart software solutions that save us time and make our lives tenfold better. Our team at SmartMatchApp believes in working smart. We work extra hard to continue introducing new smart matchmaking features every quarter, making sure your matchmaking CRM software is cutting-edge when you sign up, and is still cutting-edge years later. We love our company, and we care about our clients above all else. We’d be more than happy to work with you and make all of your loftiest business dreams come true. Together is better, and at SmartMatchApp, we deal in togetherness. So what are you waiting for?

Smart Match App is an award-winning matchmaking and membership management software CRM servicing more than 100,000 users worldwide

2024 © SmartMatch Systems Inc.


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