What is the app which you readily check on your smartphone instantly after taking on your hand?
If you are an entrepreneur I guess most probably you may check your Linkedin feed and other social media feeds.
But in general, peoples aged between 18 – 40 which app intrigues them the most? Which app always keeps them on their toes?
I think you might have started guessing now!
And someone taking trends as breakfast may have some answers too.
You may or may not be right. I don’t like to leave you guessing and be unsure beyond this point.
And the answer is online dating apps.
Yes, it is.
I personally have never used a dating app and have never been interested. But reading about the stuff and upgrades on dating apps even I may soon join the fanbase of a popular dating app, which shall remain unnamed.
What is present in it to make the people fall for it and why peoples are so crazy about dating apps?
And if in a plan, Why it is the perfect time to develop a dating app business online?
Find all your answers below with some interesting stat back up.
In simple words, have you seen some trolls in the internet stating that the real problem is when you reveal about your crush and her name to your friends?
Even this may be real. But the dating apps here has got the solution for this problem.
If you are interested in someone find them through the app and let know your interest directly to them. If it works to pass on to build a relationship and if it not then drop and just get a move on.
This is just a sneak peek what online dating is about basically. It has got much more pros especially targeting the millennials. But the app for finding the lovable ones or soulmates went well among them. This one line intro about the app is more than enough to make peoples go crazy and will garner a good number of users.
But, if one who is successful with some idea then will all others be only just watching? So many dating apps have evolved in a short span of time. And to differentiate with each other many brought different matchmaking ideas to spice up things on online dating space.
Matchmaking based on,
- Interest in music
- Things commonly hate
- Who have crossed paths
These are only a few and still are there are many more.
Then while I looked for the user count on dating it was nothing less than astonishing. As all do I too went with stats, it revealed in the U.S alone precisely there were 39.4 million peoples using online dating on 2017. And further, it says the number in users will gain strength and it will be 42.7 million in 2022.
Then I was really surprised at the growth rate of this business. And went onto look for it too.
I found it with a Technavio study revealing its Compound Annual Growth Rate as 5% a year until 2021. Isn’t it sounding some like an ideal idea for a business!
Fine, then a good number of users are present and also it is growing at a good rate. Then how much revenue this industry is making?
Again went with the stats where I found the user counts list and they had answers for that too. It revealed a detailed report. On the freemium model in 2018, 10% of users are already in a paid plan and 13% have shown interest to avail the paid plan in future.
With this 10% of paid users, the revenue generated on online dating business industry in the U.S market is $ 1,143m in 2018.
And with the annual growth rate of 4.8% – 5% the revenue is expected to take the rise and maybe as the U.S $ 1,447m in 2023.
So are you going to miss this chance?
This isn’t just as the light at the end of the tunnel. It is the chance beckoning for grab. If I am the one now planning to penetrate on online dating business industry and then I wouldn’t have left for taking a second thought.
Some considerable things before you get going in developing your dating business online,
Know your target age group and study completely about their preference for online dating space.
Know about your competitors. That is who are all targeting the same audience as you do on your business.
Bring something new to the game in matchmaking algorithm. As I said earlier though dating app idea was good the different matchmaking ways spiced up the things. So try something different than usuals.
In a plan to make it more fancier don’t feed your design with lots of graphics and contents. Just place what is only needed and be elegantly simple.
Ensure that your app can fulfill the user’s basic needs with features and then after go look out for some exclusive additions on that list.
Then finally think about the ways of monetization plans.
Hope you would seize this opportunity with this most favorable situation. It can’t get better anymore to bring an ideal time than this in developing a dating business online. So it is like now or never in the beckoning. Good luck with your successful online dating script business.