One of the most widely discussed topics today is online dating. Since the introduction of the leading dating app Tinder, the marketplace has witnessed the arrival of hundreds of dating apps and the acceptance of freemium apps as opposed to the usual subscription-based websites like Goldenbride. If you’re looking to start an online dating business, it is important to have a clearly defined business model.
Additionally, the extremely emotional nature of dating makes it necessary to place emphasis on providing a secure and credible product. However, if you’re sure that your proposal would revolutionize the dating scene by no means, go ahead. We have listed 5 basic steps to start making a profit from your online dating website.
- Identify your target audience.
- Build a welcoming atmosphere.
- Adopt a clearly defined marketing strategy.
- Prioritize using good software.
- Register with the appropriate regulators.
Identify Your Target Audience
It would be impossible to carve a niche for yourself without first establishing your target audience. The marketplace is highly competitive (PlentyOfFish, Match, eHarmony, Tinder, etc), so your product has to be as unique as possible. You could consider targeting a particular age range (mature or cougar dating), the specific type of relationship family relationships, friendships, acquaintance ships and romantic relationships), or even a particular desire people want to fulfill, like a site where you can only find Russian women for marriage.
Building a niche website that caters to specific desires is one of the most effective strategies to identify your target audience and stand out in the highly competitive industry. You need to conduct market research to ensure that your seemingly novel idea is actually “hot off the press”.
Build a Welcoming Atmosphere
No matter the dating preferences of those who visit your website, you need to remember that the visitors are humans with passion and emotions. Undoubtedly, people create an online persona that makes them more desirable, yet, some are still anxious first-time users or people who have had previous unpleasant experiences.
The general ambiance on your dating website must be friendly and user-friendly so that your site visitors may feel welcome and even be compelled to come back. Referrals will be particularly essential to attract new members, in essence, make sure your website or app is compelling enough for people to join and bring their friends along.
Adopt a Clearly Defined Marketing Strategy
A website with only a few members is not so appealing. Although you’ll find it hard to attract people willing to pay initially, if you provide incentives and a promotional ad, eventually users find your website valuable enough to drop their cash. Even if your product was initially free, you’re not obligated to continue providing your services for free. Especially when you consider the cost of running a website.
If you plan to run a subscription-based product, then it’ll be beneficial to offer a free trial for newly registered users. From the moment your website becomes functional, you are obliged to offer limited discounts and offers to create a sustainable customer base. Typically, the user fees are determined by your target audience. For instance, a website targeted towards young adults would incur fewer user fees as compared to a website targeted towards working professionals. However, if you decide to grant users free access to your product, you have to come up with other ways to make a profit, whether from supplementary products or affiliate partnerships.
Prioritize Using Good Software
Prioritizing the use of software and understanding web development is crucial to the success of your online dating business. In reality, you’ll probably have to outsource the development of your website or app to an experienced web developer or software developer. In addition to attracting new users, a decent website, or app boosts your credibility and allows you to appear more trustworthy.
Register With the Appropriate Regulators
Even as this is not mandatory, it’ll be highly beneficial to register your online dating business with the relevant bodies. Not only would you be equipped with advice and support, but registering with the appropriate bodies also increases the credibility of your business.
Online dating business FAQ
How much would it cost to build a simple online dating service?
You can start with the basics: $10 for a domain name, $60 for a sharing hosting, up to $100 for a custom WordPress template. Next, you have to buy dating software like SkaDate ($400) and hire a freelancer from Russia or Ukraine for website administration ($100/month). In general, you can start with $700-800.
But if you want something like eHarmony you should pay from $20000 to $40000.
What about ongoing expenses?
It depends on many factors: your team size (and salary), website technology, advertising spends, outsourced tasks, etc.
How Much Should You Charge for Your Services?
Almost the same answer – it depends… A lot of dating sites charge their members between $30 and $100 per month just for membership. Some sites are “free-to-use”, but you should pay for any action: text message, view photos, etc from $0.1 to $1. Also, some sites offering good discounts for clients who top-up balance for a big amount (more than $200 for example).
How much can I earn with my dating site?
This is completely contingent on 2 things: how many members your site has and how much they are paying. For example, you have 1000 members that are paying $30 per month. So you can generate $360 000 per year. But you should take into account a lot of potential investment in advertising and marketing, mobile app and website improving, taxes, etc
What are the ways to make my company more profitable?
More users, higher fees, additional services (presents, video-chats, dating tours), separate mobile application for Androids and iPhones, one more website. You can spend more money on advertising. You can use another marketing channel like SEO or Video Ads or combine them. You can merge your site with a similar competitor and fight with niche leaders together.
