Tips for Building a Successful Online Dating Site

People may be divided on many issues, but wanting to find that “special someone” is not usually one of them. Whether it’s in person or on a dating website, most people hope they can one day meet their soulmate. If you like the idea of playing matchmaker, you might want to consider the following tips for launching an online dating site of your own. The following tips can help you start a thriving business venture:

What’s Your Niche?

There are now many large and successful companies in the online dating industry (Match.com, eHarmony, etc.). This can make it difficult for startups to jump in on this marketplace. If you want your new venture to thrive, you’ll need to identify your niche. This includes finding your audience and building a site that suits their needs. The more limited your audience is, the more income potential you have.

Choose a Business Model

You’ll then have to decided which business model you would like to use for your dating site: a free site or a paid one. If you’ve chosen a small niche, a free site allows you to attract members quickly. PlentyOfFish.com, for example, is a free ad-supported site that has successfully attracted more than 30 million members. A subscription-based site like Match.com, on the other hand, may have fewer members – 1.3 million paying subscribers – but has nearly $350 million in annual revenues. Keep in mind, if you choose a subscription-based model your customers will expect more because they are paying. You’ll need to invest more time on tools and services.

Develop a Strong Algorithm

Typically, online matching services includes a questionnaire. Many are extremely comprehensive, asking about lifestyle, hobbies, work, among other interests. eHarmony, for example, asks users to complete a 400-question psychological profile. To develop a strong algorithm for your site, spend time thinking about what really matters to your potential users. What are their values?

Find Secure Payment Processing

Even though dating sites are a lucrative business, many banks and traditional processors are unwilling to offer their services. Because of a risk of fraudulent activity, these businesses are labeled “high risk”. An alternative processor, on the other hand, specializes in offering dating merchant accounts – like eMerchantBroker. This option provides you with secure payment processing options, flexible business funding solutions and chargeback protection and prevention programs.