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What is a Dating App & How it works?
A Dating App can be referred to as a platform on which people of different age groups cross each other’s mobile screen according to their age preferences, gender choices, and area of common interests.
The App usually consists of a huge user base of single men and women looking for partners near them online but anyone can join it from 18 years of age to 65 years of age depending on the application you are using.
So these applications help users to interact with other people of similar interests, let them explore and experience a different kind of interesting relationships.
These applications use the GPS technology pre-installed in every mobile phone to show the users people near them whom they have once crossed paths with or similarities in the areas of work or locations.
These applications also work in the area of demographics you search more often.
Let us suppose that a single man is looking for a woman in his area for only friendly interactions and nothing serious relations then according to his search preferences he will be able to see women who want the same kind of relationship with men if they both like each other then they can just swipe right on their smartphone screen and the other person will be able to see that, and if she likes you back then it’s a match and you can make it to a conversation or a meeting depending on the choices of both the persons involved.
How do Dating Apps make money?
- Subscriptions: Whenever a user joins any dating app he is allowed to use the app for a certain period of time for free.
When the trial period of his access gets over then he is asked for a fee to continue using the app. It totally depends on the user whether he will continue using the application and buy the subscription or leave this application and switch to another dating app as there are plenty of dating apps available on the play store.
- Advertisements: Third-party applications and companies pay a certain amount to the dating apps to display their ads on the users’ screen so that the user intentionally or un-intentionally right swipes the ad and gets redirected to the website of the ad or the link of the app advertised.
The no. of advertisements in a month or the income from the advertisements on the app depends on the popularity of the app.
- In-app purchases: When a user gets a match, he is given a chat window to start a conversation with the other user.
In this chat he can only write the text and texts are not that appealing, to make the conversation more deep and interesting use of different emojis, graphics are required. So to make it happen the user purchases a pack of emojis or smileys, graphics to make his/her conversation more interesting. The cost of the pack of emojis depends totally on the app.
- Premium Plans: To get the most out of the dating app and online dating experiences, there are premium plans available for the users in which they get certain benefits like more Right swipes for the day, extended super like options, to highlight your profile among the other users, to make your profile a top profile so that the no. of matches increase. So the users who are not satisfied with their current match index can buy the premium plans depending on the duration of their plan and their budget.
Core Earning Ideas of OpenTable & Lyft Mobile Applications:
From restaurants with the Connect system, OpenTable receives a fee for each diner who completes his reservation. It receives $2.50 per diner who reserves through OpenTable’s site and $0.25 per diner for reservations made through the restaurant’s site using OpenTable software / mobile application.
Lyft generates revenues every time a user gets a ride via its smartphone app. While most of the revenues go to the driver, the company usually generates 20% in net revenues per ride
How you can earn through Dating Apps?
To earn from a well-established market is a clever thing to do but it can give you extreme profits if you are able to do so.
Following are certain points which you should consider to earn huge profits from the mobile dating app marketplace:-
- Find the loopholes in the existing top Dating Apps :
The top Dating apps like Tinder charges a certain amount from the users when they cross a certain level while using the app and to make it happen the user either pays for it or leave the app.
What you can do?
Make the application fee for users or mark the cost so low that the people shift themselves from that app to yours.
- Include Features that are not available for free users :
Features like unlimited likes are not there on many platforms, in fact, one has to pay on some apps to enroll for unlimited likes feature. By including this feature it will make the user think of switching to your app as all the dating apps use the same GPS technology to show you the searches.
Super likes are limited to one super like per day, you can make it five per day and for premium users, you can make it then this will increase the probability of selection of your app.
Sometimes in hurry, you left-swipe an appealing person and in regret, you have to pay for that reverse swipe, what if it would be free and you don’t have to pay for a little mistake. Take advantage of it.
- Create an Easy To use the platform :
Create a platform that anyone can use easily without wasting much of their time in understanding the chronology of the app.
Basic Setup for a Dating App
To earn profits from the Dating App marketplace you first need to develop an App that will be competing for you in the market.
The development and management of the app require a budget, for example, to develop an app for an IOS you need to spend around 50k $ and the relatively lesser amount would be required to develop an application for android users.
Profit Margins For You
With an increasing trend of Online Dating and the demand for a dating app that suits the audience and the users, if someone is able to penetrate the market with the above strategies then he will be making a huge amount of money per year.
For example, Tinder is the top charted dating app as we all know, it earns as much as 1469$ per minute and approximately 89000$ per hour form its application.
You can imagine the amount of profit you can earn by just eliminating the restrictions that are there in the other dating apps and advertising your app digitally and keeping up the good work and response from the user database.
So once again thanks for reading till the end & let me know your views into the comment box.
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Have a great day ahead!!