The downloads and popularity of the dating apps does not mark the success rate of the app if the desired revenue does not get generated from the apps. All the apps are being developed on the basic idea of the business owners that how the popularity of the apps will bring massive revenue. Revenue generation is the first and foremost step which is of high interest to all the app owners once they have made an investment of lump sum money for developing an app.
And with every day, the popularity of apps are increasing at a rapid rate and the individuals are often being much more dependable on such dating apps to find someone special. The popularity and match-making algorithms have created a scenario where everyone feels that apart from not getting anyone on social media, their soulmates can only be searched from dating apps. Individuals are making the use of dating apps as their last resort when they cannot find anyone.
The increased popularity and user base is making a wide appeal when it comes to dating app development which are highly popular among the young adults. Even the dating apps are having certain kinds of categories as we have special apps according to religion,caste, creed and even for LGBT community.
Alright what’s the big deal…?
Developing a dating app is not something which can be developed just with an idea, such apps need long projection,time, effort and consistency. All the apps which are blooming across the industry must meet the demands and basic needs of the individuals and the apps must work accordingly fulfilling the needs of the individuals as that is the perfect method to sustain in the competitive market.
Once the app is made it can be clearly framed how money can be generated from the app and what are the various ways to fulfill the organizational goal along with providing satisfaction to the customers. In the world of dating apps, tinder clone development is providing all the business owners a chance where they can easily enter the dating industry without any hassle.
The ease and convenience which the business owner gets with tinder is something that anyone would ever dream of. Most of the users are still searching for the platform where they need to search for the perfect time and enter the market by bringing some innovations in their apps which makes their apps much more exciting and user-friendly.
Use of technology
The use of technology plays a pivotal role in grabbing the attention of new users and entertaining the existing users. Most of the users of the existing dating apps are still not satisfied with the apps and they are eagerly looking for something which is more exciting and appealing and the business owners can enter the market at a perfect time. The online dating industry in the year 2015 has made it to more than $2.2 billions. The dating industry and the revenue generated by it grabs the attention of various business owners.
Oh ok.. We got to know that dating apps are making huge amounts of money. But how do we get to know that?
How does Tinder and every such dating app make money
The most popular dating app Tinder is popular among the teens and youngsters and the revenue which gets generated by the single app marks to the pool of $3 billion. Tinder makes most of its revenue from the feature of subscription service along with extending the maximum features and its services.
Alright, As a business owner you must be wondering what are the ways through which you can make money for your dating app just like tinder. The channel which gets used by the app owner plays a pivotal role which helps in deciding the policies and the desired revenue whether it gets generated or not.
Here are some of the ways through which you can generate the desired revenue for your app.
1. Freemium
The word freemium is the combination of 2 words : Free and premium. This means that the app can get downloaded free of cost for a limited point of time or with limited features of the app and when the user enjoys more services which are offered in the app they need to pay a certain amount of money to enjoy those services. This model of monetization is the most greedy model as it attracts the users with a free label on the app and once the user gets comfortable with the usage and services of the app they are likely to pay for its services.
2. Subscription
The subscription model is the most fascinating revenue model and the app owners are pretty sure that the services which they are offering of their apps won’t be offered by any of the competitors. Even the app users are aware of it and they pay happily depending upon the type of subscription model whether the user needs to pay for a month, quarterly or half yearly. The subscription model allows the users to enjoy the premium services of the app whether it is unlimited video calling or unlimited swipes.
3. In- App purchases
Most of the users tend to send different kidneys of emojis, Gifs and several other motion pictures which makes the chat much more interesting and appealing. The app owners must include In-app purchases where a user just needs to pay an amount which is pocket-friendly to avail the benefits of using such graphics and Gifs.
4. Affiliated Marketing
For this kind of revenue generation the app owner needs to make sure that all the features and functioning of the app gets marketed in the globalised world with an ease. And for this, they can hire a marketing agency which can promote the app on various websites via advertisements, paid promotions and much more.
5. Send Gifts
If the business owner is interested in bringing and launching a dating app then they must add the option of sending gifts as per the varied choice of the users. The purchase and sell of the gifts will open up new horizons for the business owners to generate maximum revenue.
The Last Sentence
All the monetization models have different ways to generate the desired revenue but it totally depends upon the functioning of dating apps and the preference of the business owners. The business owners must not make a summary of all the monetization models in their apps as it will degrade the user experience. The monetization model which matches the need of the app and which the business owners feels that it is necessary must only be included. Though apart from this, there are other monetization models which can be used by the business owner.
Punit