Are dating apps profitable?
9 minute(s) read
Published on: Mar 15, 2023
Updated on: Mar 15, 2023
Developing dating programs can be a very rewarding investment because people who have launched such programs have doubled or even tripled their investments. In this case, the market and profit of dating apps will reach 1225 million dollars in 2022. In addition, more than 80% of the users who use dating programs said that they are satisfied with these programs and the number of users of such programs is also increasing. In such a way that every year about 5% of the industry and market of dating applications is increasing.
The best dating apps in the world:
- Tinder: It is one of the best and most famous dating apps that has a large number of users and users can easily make online appointments using this app.- Bumble: is another dating application that is Tinder's main competitor. It should be mentioned that Bumble in North America was designed to control women by one of the main employees of Tinder.- Hinge: One of the main competitors for both Bumble and Tinder dating apps, which is designed and developed with the aim of creating long-term relationships instead of quick connections.- Badoo: is a dating application that existed before Tinder and Bumble and was launched as an application for social search, gaming and entertainment.- Grindr: It is a dating application that was designed for LGBTQ for the first time and is very popular.- Happn: It is one of the dating apps that instead of using location to find friends for people, introduces people they may have met recently as friends.
3 very important strategies on how to make money from dating apps
1- Paid subscriptions or premium plans: This is one of the most common methods and ways to earn income in all applications. In this case, in order for users to have access to the application and be able to use it, they must pay an amount to buy a subscription. And this is also one of the ways that many applications use to earn money .Or even it is possible that users have to pay money to have the premium version of the application. Premium plan and version is also one of the methods of earning income for application owners who provide services for users. Because Premium versions have additional and user-friendly features and do not have advertisements. For this reason, many users tend to buy premium versions.These payments can be once a month or once a year. If a user wants to use an application for a year, he buys an annual subscription and pays for it, or on the contrary, if a user wants to use the application for a month, he pays for a monthly subscription.Of course, many dating applications claim that they are free, but it is not really the case, and it is possible that users will have access to them for free only for a short period of time and if they like the app, they will have to buy a subscription for many uses.In order to get users to pay to buy a subscription, programs must be considered. In such a way that a special feature is created in the application and we attract users to the free version of that feature. After a short period of time that users can use the free version, we will block and limit them from using those features. In this case, in order to use that feature, users are forced to buy a subscription and use that feature. For a better understanding of the issue, we can use the Tinder application as an example, which allows some features only for premium users. For example2- Advertisements that dating applications receive huge amounts of money by placing their space to advertise other related businesses. Advertisements of different pages are displayed on the application screen and users can see advertisement banners while using them. If the advertising banners are attractive, users will be attracted until they click on them, and with each click on the advertising banners, the owner of the application receives money. Grindr is also one of the applications that earns its income through advertisements and services it provides to its users. Therefore, advertising also plays an important role in making money for dating applications and can make them earn a lot of money. Of course, it is also worth mentioning that if only dating applications rely on advertisements to earn income and want to generate income through advertisements, it will threaten them. Because advertisements are displayed on the screen intrusively and may cause disturbance in many cases. If there are a lot of ads and other ways to earn money are not used, users may leave the application and never go to it again.
What formats can we use for advertising in dating-applications?
- Banners: Banners are one of the advertising formats that allow you to advertise dynamically or statically on your page. If you use this ad format, you must use high-quality graphics and high-rate CTA to be successful. Because if the graphic quality is not high, the banners will not be attractively designed, and in this case you will not be able to get good results from advertising. You should keep in mind that because users have seen many advertising banners and they may not pay attention to them when they see your banner, but if you can design it in an attractive way, you can attract them.- Video ads: In addition to static or dynamic banners, video ads are also very popular and if they are used, they reach the highest CTR rate. The effectiveness of video ads is high so that based on the reports made by eMarketer, it is shown that video ads may reach 24.81 million dollars in the next two years. For this type of advertising method, a reward can also be considered, in such a way that people will be rewarded when they have finished watching the video. Unity Ads considers this method of rewarding the user after watching the video as the "hottest revenue generator". In addition, a study conducted by OpenX shows that by giving a discount to users when they finish watching a video, they are encouraged to watch the video to the end.
3- Purchases made inside the application, such as purchases of coins, iPhones, likes, etc. This method also provides an opportunity for users to perform desired activities and purchases. So that users can buy points. If these things are done, some gifts will be given to the people who have made the highest amount of purchases.
How to increase interaction criteria in dating-applications?
In order for you to increase engagement in dating apps, you need to focus on attracting new users as well as retaining old users. Because dating applications generate income for you, and for this reason, to increase the amount of interaction and income, new users must join and old users must be retained. For this, you must be sure that your application is sufficiently attractive and can attract new users and retain old users.
How can we check user performance?
In order for your dating application to be successful, you must study the behavior and performance of users until you can get data. After checking the obtained data, you can know the taste of your users and take measures to improve your application. In this way, you can take the necessary steps to increase the amount of interaction by obtaining and analyzing data so that you can attract new users and retain old users. To do this, which will ultimately increase your engagement and income, there must be a KPI. KPI is the same as checking users' records and obtaining data and then analyzing them to improve the performance of the application.
This shows how active a new user is. To review and analyze user behavior, CPA can show how active a new user who has entered the application is. The level of activity of a user in different parts of the application shows the popularity of your application and you can decide based on them which part of your application needs to be improved and handled a lot.
This shows all the transactions that have been abandoned. In this case, users may have abandoned a transaction and have not done it again due to loading with low speed and long time. Abandonment Rate can help you identify the gaps in the application and know which part of the application needs improvement. Then improve it.
This is also the income that is received from the customer during his life and this also helps to know the value of each part of the application and then decide which part needs a lot of money.
If you want to invest in dating apps, you can safely do so, because there are many ways to make money from these apps. Today, with the popularity of dating apps and the large number of users of these apps, they are the best option for investment and earning.DotNek Android development services