Looking to launch and monetise a successful online dating platform? We cover everything from budgeting to website building, advertising to other monetisation strategies.
Online dating services are a unique business, but they’re not something that you should go into without any thought. That’s why this article will look into the different aspects of the business to prepare potential site operators. With this information, you’ll know what to expect when launching your site.
The first thing you have to understand is the overall budget that is required to make a dating service work. You’ll have to focus on these rough estimates:
• Site building: USD 10 – USD 20,000, depending on the features you want on the site
• Advertising: USD 5,000 using social media and typical advertisement
• Site upkeep including tech support: USD 3,500 per month
• Analytics, server costs, CMS: USD 3,000
As you can see, numerous costs go into building and maintaining a dating service, so you have to have a fair amount of money to start.
Advertising is a very important part of running a dating service as you need to reach your customers and get them interested. You can use many different kinds of marketing that don’t cost a lot of money. For example, social media platforms are very inexpensive, hunting for burgeoning websites and advertising on them can be useful, and pay-per-click ads are all inexpensive options available to you. Don’t be afraid to take some time to get the advertising requirements that you need.
3. Target Demographic
You should always know what kind of dating site you’re going to build before starting because that decision impacts the overall functionality. Nowadays, there are even websites that are dedicated to dating someone who loves the same actor, as well general dating sites, married/affair dating sites like affairdating.com, Asian dating sites, and many, many others.
How to Create a Dating Website
The easiest way to start a dating business is to buy an existing site or order the creation of your website.
If you are thinking about buying a website, you should understand that a good dating website will cost you at least USD 10,000. In addition, a dating site with an already developed customer base will cost at least 3-4 times more.
Website creation will be a cheaper way, but it will take more time. In addition, even if you have experience in such projects, to create a stable product, you will need the help of a team of professionals.
The main stages of website development:
1. Development of technical specifications
2. Development of individual design
3. Site layout
4. Site programming
5. Integration with third-party services
6. Testing the site
7. Launching the project
Be ready to wait for the first profit
The most frustrating element of owning a website is waiting for a profit. You are going to have to put up a lot of money ahead of time, and then you’re going to need to get that money back. While advertising on your site can be profitable, it takes a good while to get going. Furthermore, the majority of your site’s income, based on the pay model, is going to come from subscriptions.
Lastly, you have to focus on a specific subset of people that are looking to date in order to be successful. In this day and age, you can’t just have a general dating site, or nobody will feel that it meets their specific needs. Perhaps you can focus on helping older people meet, or work around a specific culture, or aid people that are looking for a certain type of date? After all, while some people wish to have long-term outcomes, others may simply want something quick and hot. Find the approach that works best for your business needs.
Monetising Your Dating Site
There are many ways to monetise your dating site. We’ll cover three of the most popular methods. All of them are possible only if you already have an audience of users.
The fastest way to monetise, but not the most profitable for you. If you charge a fee for using your dating site, then the user is unlikely to enjoy the constant annoying ads. This method of monetisation is desirable if you have a completely free website.
2. Paid communication on the site and subscription
Perhaps the most popular way to monetise. But you must understand that your users will have to be convinced that they can get what they want on the site. It is also worth considering the option of temporarily free use.
3. Gifts and special features
If your site is focused on looking for a serious and long-term relationship, then a menu providing virtual gifts for your soulmate can be very interesting, especially when it comes to online relationships at a distance.
Developing an online dating service is difficult. You have to balance the needs of your customers with the goals that you have set forth regarding your business. Not only do you need to have a significant investment to put into the site, but you need the patience to watch it mature. Building a site from the ground up will require a solid business plan before anything else, so work on that and then worry about the other elements.