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Posted 9 November 2020
The dating industry has grown over the years. Match Group, which owns Match.com and many other dating websites and apps, makes billions of dollars every year. They also have made acquisitions in billions of dollars.
The potential for making so much money is there. Do you remember Coffee Meets Bagel? Three sisters founded this website, and it has since grown it into a money-making machine. They appeared on Shark Tank, where Mark Cuban offered to buy their company for $30 million, but they declined. They knew that when they get broadcasted, they’ll get more sign-ups. In 2008 they generated over $25 million in revenue. That would’ve been a significant loss if they sold.
Many things go into making sure that your dating website becomes successful. Having an App for iOS and Android could help. It can bring more sign-ups for free and help increase the total value of the company.
People will download your app when they see that others have done the same.
Make sure your App appeals to the younger generation because they. Are the ones that will use it often.
It means there’s always going to be competition, especially from those with deep pockets, and that shouldn’t frighten you.
Before you embark on building a dating site, please ensure it’s unique and can be addictive. Let it be that whenever people visit your website or App, they’ll just love it. Let people feel good about what you’ve built.
I know there’s a percentage of people out there who’re just looking to play and not find true love. It’s the world; you’ll find people like that. But that shouldn’t stop you. You are in this to make money. However, that shouldn’t be your driver.
Make your website accessible so that people can connect. Even if people meet others that are not looking for true love, they’ll still hope to meet the one they’ll love one day on your platform.
When you build a community, this means that everyone knows themselves there. Yes, you are just starting, but when it grows into something big, that’s when you’ll see the benefits of having a community.
A community of people with the same goal is unstoppable. They’ll go all out to bring people to the website. It’s why you see some companies growing year after year. Take a look at Facebook, they built a community, and now they have billions of users every month using their platforms.
Below are things you can do to build and make money with your website.
1. Choose a dating website builder
If you can code a website, then go ahead and do it yourself. But if you can’t, then you need to work with a dating website builder.
Appypie is one of the best dating website hosting companies, and you can launch your dating site with them in minutes. It’s not expensive at all. With a flat fee, you can access many features that you can use to make money with your dating website.
By now, you should know there’s no other way to get visitors other than promoting your website. You might think you can get free visitors through search and other platforms, but that’s still under promotion. You are writing blog posts/posting on social media just to connect to people that might be interested in your website.
It can be expensive, but you are in this for the long run. It could take a little while to be profitable, but you will reap the rewards if you are patient enough.
When some founders see a little traction in their business, they immediately move to raise money. Fast growth is always the aim for most founders, but is that healthy? Many founders have lost their businesses because of rapid growth. It can make you give out half or almost all your business percentages to investors with the cash.
Investors are always looking for returns, which means they'll like to sell the company to make huge profits. Before you raise money, make sure you know your numbers, and you are ready for investors.
Did you know that if Facebook, Google, YouTube, isn’t monetizing, they’ll go out of business? It’s the money that comes in that makes them keep running their business. Yes, they can raise money, but it’ll get to a point in time when they can’t.
You might ask, ‘What of WhatsApp?’ Do you think they don’t make money? There’s something called data. Facebook owns WhatsApp, and of course, they can afford to lose some money (keep cash on the table). However, data is critical to their business model, and that's why they paid billions for the App. Although they might not sell the data to anyone else, they indeed use it to develop other products to keep growing.