Dating Apps: Near Future and Beyond
Along with the influx of technology in our lives, it’s only natural that it has taken the dating world by storm. The lively convenience and excitement they bring to the user experience dating app development company is the new favorite in the market. So when it comes to dating apps, the odds remain in favor of online dating. Online dating segment revenue will reach $2,141 million in 2020, with a CAGR of 4.3% 2020-2024, Statista reports.
It is a matter of love and all set to blossom in times to come. Investors are taking note of the booming market as analysts estimate that the global online dating market could top $12 billion in two to three years. Add to its bright outlook, ancillary factors such as untapped markets, rising millennial spending power, delays in life milestones as well as longer working hours, the future seems bright for the online dating industry as a whole.
How do online dating app businesses bring home income?
If you’re still wondering, we’d like to inform you that dating apps make money and lots of it. Broadly speaking, the business model for dating apps falls into three broad categories:
a.) Subscription Plans
The subscription model allows users to use the app for a fee. This is usually for a set period of time (usually a week or a month). Payments typically remain recurring and become a higher barrier to entry for use. However, people appreciate dating apps with subscription-based models because these apps are focused on finding a serious relationship between people.
b.) Freemium model
The freemium model allows users to register and use the app’s basic features for free. The app generates revenue either through advertising or by unlocking enhanced features for a fee. With no barriers to entry, freemium dating apps are highly scalable and enjoy a loyal and active user base until they introduce paid features. In-app advertising is often used to generate shared revenue with advertisers from clicks, impressions or transactions.
c.) In-app purchases
Although basic membership is free for this type of model, users often pay for enhanced features. This model is ideal for dating businesses that intend to build a user base and loyalty before turning on the monetization engine.
Best dating apps of 2022
Bumble
Bumble is a dating app with a strict timer that requires women to message first. If they don’t get the message back within 24 hours, the recipient of the message will lose potential data.
Tinder
Tinder is a popular dating app for hookups, friendships, and everything in between. Contains short profiles to simplify decision-making.
OKCupid
OkCupid features long profiles and spits out a reasonable match/enemy ratio on the profiles to help people judge compatibility based on interests.
Hinge
Pant focused on the standard contacts and mutual friends you and your potential partner shared on social media. Engaging user profiles, it helps users find serious relationships.
Coffee meets bagel
Get better coffee and bagel matches. The app suggests icebreakers for first messages and includes detailed profiles.
Happn
Happn is an app that connects you with people nearby. This is useful for people who want to meet someone more organically.
The League
An “elite dating app” that requires applications from users with details such as job title, college and LinkedIn profile.
Her
An LGBTQ dating app specifically, Her caters to lesbian, bisexual and queer women.
Clover
Clover allows users to book dates similar to e-shops. Number match predictions based on compatibility and interests are the highlight of Clover.
Match
Match is a paid app that helps people find serious relationships.
5 twists you can bring to your dating app to make it shine
1.) Dating app based on birth horoscope
Belief in horoscopes and horoscopes is a big thing in many South Asian countries and among people who belong to this region. Slowly and surely, the idea is catching up in the West as well. A dating app based on a natal chart and birth horoscope will be the perfect solution for people who are looking for long-term relationships online.
2.) Dating apps for people on the wrong side of 50
As we get older, it tends to be a bit difficult to meet new people and make new friends organically. A platform specific to the needs of middle-aged men and women can help them find a partner quickly. A dating app that caters to people over 50 or 40 can be a welcome idea for singles looking to mingle later in life.
3.) A dating app that segregates profiles by profession
Our work and personal life very often put some strain on our personal life as well. People from different professions find it difficult to understand each other’s ways and find themselves in troubled waters relationally. An app that connects individuals based on their professions can help singles meet like-minded partners and have smoother relationships.
4.) A dating app that takes life goals into account for matching profiles
It is common for people in relationships to break up due to different life goals. They often choose paths that move in different directions and suffer massive heartaches. A dating app that connects individuals with similar life goals can encourage relationships that are more organic because it helps individuals move in the same direction in life.
5.) Dating app based on Enneagram personality type
Very often, couples complain that the reason for their breakup is because of opposite personality types. Personal conflicts cannot be resolved because change can be difficult. A dating app that matches people based on personality tests like the Enneagram test or others like the Meyer-Briggs tests can be a huge success.
Conclusion
From the days when it was frowned upon to the days when it is all the rage, online dating has come a long way. With increasing internet penetration, the dating arena is set to get bigger and better online.
Are you looking for mobile app development services?
Our team at Moon Technolabs believes that there is a lot of room for new players in the market. We hope the 5 twists we discussed above will help you come up with your own creative ideas.