Things to know about Tinder like dating App!
The new age evolution has completely changed the relationship with technology and also the mindset of a human being. People are now more techno-friendly and ready to adapt new things compare to a past decade.
Now these days, we have new ways of messaging that works instantly rather the traditional hand-written letters that used to reach in days, we are more adaptive to social media platforms rather social events, and we are more active on internet rather community meetings. Even the special meeting with someone or dating has changed its skin, you can search your soulmate or a short-term relationship direct through the dating apps.
Table of Content
- What are the highlighted statistics of Dating Industry?
- Top 5 Market leaders of dating industry!
- What are the features that Tinder like Dating App should have?
- Conclusion – The final words!
What are the highlighted statistics of Dating Industry?
Dating industry is a vast segment for entrepreneurs as well as for App Development Companies across the globe. Almost 75% of the world population uses one of the popular dating app at least once in their life. Today, the industry is billion dollar and much easier for single around the world.
Here are a few statistics that show the growth and the tendency of the industry:
- In the US only, 49.7 million out of 54.4 million singles have used dating site to search their soulmate or a relationship partner.
- 72% singles trust on online dating-triggered relationships rather the offline one.
- Almost 77% daters regularly spend atleast 15 minutes on dating apps for potential matches or search profiles.
- 61% of the adult daters find this platform an easier solution to check and match profiles.
- The major ratio of users on dating apps is millennial, who aged between 18-29 years.
- Online Dating segment revenue amounts to US$2,141 million in 2020 with an expected CAGR 4.3% (2020-2024).
- According to the Statista stats, online dating users expected to reach to 279.8 million by 2024. Take a look at the growth chart beneath:
Top 5 Market leaders of dating industry!
According to the stats, tinder made $1.2 billion revenue in the last year, which is around 43% higher than 2018.
With the same intend of dating and social networking, “Bumble” – the first feminist dating app was founded by one of the co-founders of “Tinder” – “Whitney Wolfe”, who left the firm due to some personal issues with another co-founder.
According to the stats, “Bumble” earned the top second position in list of all dating brands with a $300 million revenue in the year 2019. This is the only platform, who empowered women to start communication and get a possible match.
According to the stats, “OkCupid” earns $1 million revenue in the segment last year with almost 200K downloads by a global audience.
Other than those leading apps, there are several dating apps available on Google Play and App Store, some of them are Hinge, Happn, Her, Clover, Plenty of Fish, and Grindr.
What are the features that Tinder like Dating App should have?
Comparison always took place with the leading one and industry follows the path of successful brands. Take a look at the beneath chart that shows the most popular online dating app worldwide:
According to the above chart people downloaded Tinder most. So, here’s the top most features that tinder like dating app should have:
01. Social Login
Apart from the technical prospectus, integration with social account will also cut down the efforts of a user to prepare a profile on such dating apps as they can fetch most of details from the social platforms.
Although, app developers can allow users to choose their preferred region or location and find their matches apart from getting the current location from their devices.
03. Matching AI Algo
The app uses a scoring system, where the number of likes or right swipe counts as the rating, more likes means the higher profile score. Although, matches can also be suggested on the basis of similar interests, similar locations, and similar count of scores.
04. Swipe Surge
Tinder introduces that feature and recognized 15x higher user activities with a 250% increased match ratio.
05. Setting and Matches
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06. Push Notification
Like other apps, online dating apps should also have Push Notification to update users in real-time about recent changes, matches, messages, etc. This is a significant feature and major growth tactic to retain a user and provoke them to return back to the application.
07. Chat System
App developers can include a real-time chat system with video calling feature, AI based chats to animate pictures, or can make it interactive through cartoon style user emojis.
08. Anti-Fraud Screening
This can also be done through two-way verification, and required document verification process along with profile completion.
Conclusion - The Bottom Line.
If we think a decade back, finding the right relation without knowing each other isn’t a possible thing, but now we can. Online dating platforms made it easy for the singles and appeared as the most preferred solution for finding the right relationship.
We analyzed the industry stats and found that the online dating industry is a billion-dollar industry with a great user base and higher revenue model. There are almost 77% singles, who uses such kind of applications at least 15 minutes per day. Due to such facts, plenty of dating applications are running successfully. The Match Group owns 45+ dating brands including the leaders – Tinder, Match, OkCupid, etc.
Those figures are eye-catchy for entrepreneurs too, that’s why the number of dating app developers also increasing day-by-day. Although, check those stats, top leader’s strategies and their business models first, before entering in the segment.