Online dating has become one of the most successful and, therefore, most lucrative e-commerce ventures of the modern age. The very first commercial dating site was launched as recently as the mid-1990s. The revenue generated by the dating industry across the globe in last years is over $3 billion. This figure is rising all the time, so if you manage one of these websites, your future is looking bright. It could be even brighter if you think of ways to keep monetizing your enterprise.
Like many websites focused on active fling and casual dating, Tenderfling is available for adults looking for passion-filled individuals. Such grown-up audience allows a large number of dating sites to add premium membership packages with advanced search and matchmaking options, as well as free registration. Older users, who are financially secure, are liable to be more amenable to seeking quality matching, and be prepared to pay accordingly.
Dating sites as a profitable online business
Some observers might question how websites that often provide similar functionality for interacting as social media platforms can generate so much income. This can be explained by a simple maths equation. Visualize the number of singles seeking a partner online as X. Now assume Y is the average price for signing up to a dating site (actually subscribing to take advantage of advanced features as opposed to simply creating a profile). Let’s take Y as a monthly average of around $30. If X equates to one-third of all potential singles on the planet, when you multiply by Y, you are going to produce a mind-boggling total. What else? The value of X is only ever going to increase exponentially with population growth!
Ways to monetize online dating
The freemium model is common amongst dating services. Basic functions – registration, creating profiles, messaging – are initially free. This is all about enticing new customers to check out the available features. At a certain point, they will need to subscribe to a payment plan to unlock more powerful features.
Membership schemes are the lifeblood of website monetization. Different packages will be made available to free members as an incentive to upgrade their accounts. This will be graded according to the levels of access to special features that will be granted, so a standard member will be able to do more than a free one, but less than premium members. These fees will also vary according to the length of time someone chooses to subscribe. This will be on a sliding scale – the longer they commit, the lower the pro-rata total. The nature of the website can also determine the level at which fees are set. Because registration and profile creation remain the basic starting point, or ‘gateway’ into online dating, these services are typically ringfenced as a free option.
Site administrators can take advantage of advertising to generate income. These can come in a variety of forms, from pop-ups to click-through links that might take customers to online shops offering relevant products. The more precisely these adverts are targeted, the greater the chances of income being generated by individuals who have been steered towards particular areas.
One of the most lucrative methods of monetizing any site is signing up for an affiliate program. The site author will identify products their own customer base might be interested in. They will then agree to be an affiliate for a retail website that sells these items and receive the relevant coding to integrate into dedicated pages on their own site. It’s then up to the dating site management to build text around these items, whether they are products or services, that would inspire their site users to explore the links, follow the link to the online store, then add it to their shopping cart. The retail organization will pay a pre-agreed commission on every sale. Some affiliates hook up with corporations like Amazon; others stick to smaller, niche retailers. The beauty of affiliate marketing is you are removed from the actual product replacement or invoicing part of the chain – the retailer handles all this. You can devote all your energies towards marketing the items.
A retail company will place articles within your site that appears to be closely tied-in to your dating site, but its ultimate aim is to promote their own product.
Dating sites often arrange get-togethers for their clients in social settings, where members can step away from their screens and mingle, in a variety of locations, and paying an entry fee.
Paid dating consulting and assistance
Online dating has become so popular, users are increasingly seeking to refine their techniques, whether that covers conversation skills, or choosing the right service or category on site. The advice offered for a fee can range from tips on how to properly complete and promote a dating profile, to ones for flirting or deep online conversations.
As you can see, there are many more ways to generate income from a dating site than just a paid membership. Depending on the chosen niche of the site and the audience, for some online services some methods will work better than others. Remember that your main goal as a site owner is happy single people who come to your site for new acquaintances and romantic adventures. When the focus on customers is clear, then they are ready to use your services in the future, continuing to bring you profit.