Great Companies: Please tell me something about the business and how did you come up with such an idea?
Siddhant Dineshmall Banthia: Cupid Knot is basically a matchmaking organization with a community centric approach. We are based in Surat with a PAN India target market. We also offer our services to certain countries abroad. Our mode of service offerings is traditional, however backed up with proficient technology. Our associate partners that are spread across various parts of India help us to create a wide data pool of prospective clientele base. We don't offer platform for independent matchmaking. We search, scrutinize and suggest the recommendations to our client individually without revealing their identity. We vary from other matrimonial platforms as we don't offer chat portal and individual search options. The idea behind Cupid Knot was as simple as to serve the Indian market with an Indian adaptable services. The growth rate of matrimonial industry in India is increasing at a rapid rate but it still has untapped potential within it. We wanted to capture that market with our unique service offerings. We wanted to specialise in the communities of Jain, Agarwal and Maheshwari. Given the mentality of these communities in particular, we wanted to make the process of partner search easy, efficient and confidential. Hence, Cupid Knot.
Great Companies: What are the various services and products provided by your company?
Siddhant Dineshmall Banthia: Our list of comprehensive services at Cupid Knot includes- We offer individualised and customised matchmaking services for our prospective grooms and brides.
1. We make a search of perfect partner for them by putting our technology to right use.
2. As a part of our secondary service, we help our clients by making a perfect bio data for them.
3. We offer astrology consultation to our clients taking into consideration the significance of horoscope in India.
4. Lastly, we also offer matchmaking services to divorced individuals wanting to go for re- marriage.
Great Companies: Why should one choose you over others in this field?
Siddhant Dineshmall Banthia: Matrimonial industries in India are mushrooming at a rapid rate. It is extremely difficult for people to make a choice of matchmaking organization that fits best for them. These are the points that makes us unique over our competitors.
1. We offer completely personalised services to our clients, one to one. Our service offerings are an amalgamation of tradition and tech, apt for our clientele cohort. While we offer completely offline support and guidance to our clients we make a use of tech to send suggestions.
2. Our associate network is spread across the country. This helps us create the data pool of potential and prospective customers. Our client can find their perfect match without compromising much.
3. We are apt for traditional Indian families. We don't offer chat portal facility nor do we have open portal for anyone to search individually. We have a strict communication policy of interacting only with guardians.
4. Our service offerings are priced at affordable rates, making it accessible for all.
5. We have adopted a community centric approach specializing in Jain, Agarwal, and Maheshwari communities. Hence, anyone who belongs to such specific community stands a higher chance of finding a partner through us rather than other matrimonial platforms.
Great Companies: What are the struggles and challenges you face?
Siddhant Dineshmall Banthia: Every startup has a set of their own challenges and struggles. These are our own challenges that we struggle overcoming.
1. It is extremely difficult to gain acceptance from community. The word matrimony in itself is attached with negative connotations. Hence matrimonial site is often regarded as the last resort for finding life partner instead of making its use voluntarily as a first choice.
2. At times abundant resources are more harmful than scarce resources. At least scarce resources allows you to make rightful decisions after due and thoughtful consideration. Having too many resources at the start misguided us.
3. The conversion ratio is extremely small in matrimonial industry. Hence you have very few success stories to portray.
4. Technology is absolutely making the business processes easier. However, one of the struggles we faced while starting out was integrating tradition within it. We wanted to offer traditional matchmaking services more efficiently through our technology.
Great Companies: What do you think are the few main things which are most important for a successful business?
Siddhant Dineshmall Banthia: The definition of success varies for every individual. In general, sales, profit and customer satisfaction defines success for large cohort of firms. Success for us is:
1. Low level of failure ratio. Matrimonial industry in itself has a very less conversion rate. In such scenario, decreasing level of failure ratios is a stepping stone to success for us.
2. Our network is our strength. The web of client brings us more potential clients through word of mouth. We value each of our client dearly, regardless of the business bought in by them.
3. We perform quality audit at each stage of our services. This ensures that our end service is offered at an ultimate level.
4. Our branding image that is strengthened by client's testimonial defines our success.