Few days back we talked about 5 Best Smart Home Apps For a Smart Home and now we are going to talk about the money making process of Dating Apps. How these apps make money and promote themselves to earn fortune.
Dating Apps are very popular in today’s world as in this IT era no one has much time to build up relations and so dating apps help people to find a match for each other. Some of the dating apps people usually use are Tinder, TrulyMadly, Happn and Hi5 and there are several others like these.
Lets talk about the monetization part for these apps. These apps basically make money in three ways that are through Premium Subscriptions, One Time Purchases, In App Purchases and Third Party Advertising.
One Time Purchase
There are some apps which directly charges on first go to use the app. It can be for lifetime or yearly or monthly.
In App Purchases
This is what every app is using to make more and more money. There are in app purchases such as sending gift to the partner, increasing the number of matches in a day and for increasing the frequency of matches.
Premium Subscription Plans
Its a very attractive way for every business to consider people for more feature in an existing product. Maximum apps provide some features for free of keep the premium features limited. This tempt users to go for premium subscription plans to use the premium features uninterruptedly.
Third Party Advertising
Dating Apps use advertisements from third party websites to show in between the app content through which they make either when they user click on the ads or any sale is made through the app.
The most popular money making method with the dating apps is the freemium model where users get free access to some of the basic features such as to find people and basic chats. To make this an uninterrupted process then need to buy perks for some extra cost.
If you are going to develop an dating app for you then you can you any of the above method to make money from dating apps. Well if you want to develop a dating app you must read this cool article about how to create a dating app.
Lets talk about Tinder which is one of the best dating apps in the market and lets see how they motivate the users to go for premium subscription.
Sometimes we swipe left(unlike) to a person we liked and need to rewind the unlike but you cannot do this in the freemium model of the app.You need to go for Tinder Plus or Tinder Gold membership that comes within the app.
But why should people pay you for what they have not actually seen. Tinder is now one of the most successful dating apps and this is because they kept it free for nearly 3 years and won the users trust. Then they add paid features after gaining the trust.
We have just talked about how the money will flow through dating apps, now we will talk about the difficulties a dating app face every time.
- – Its always a tedious task to bring users to an whether it is a dating or any other app. Your user base is your strength and once its been build up then you can do rule the market.
- – Promotion of the app in both men and women is very important as you need volumes of both the genders to keep the app alive. A man will chat to woman and woman looks for man in these apps.
- – Retaining your customers is an essential marketing strategy and you need to be very active about this. If you do not provide some X factor feature then they will leave to join some other app.
- –You need to bring more users every time as people here are to find new matches and if they are not getting new faces before them, then they will definitely leave you after sometime.
So, developing a dating can be profitable but before that you need to pass through a lot of hurdles to make it popular among the users.