Tinder is a dating app available on both iOS and Android. It was founded by Sean Rad, Justin Mateen, Whitney Wolfe and Jonathan Badeen in 2012. It works on a simple mechanism which is if a user likes someone they swipe right to like or swipe left to dislike.
Tinder users must be over 18 years of age and should have a Facebook account. The app now allows Instagram and Spotify integrations; you can use the audio and pictures from your profile on these social media platforms within Tinder.
Research has shown that there are 50 million active users on this dating app who check their accounts 11 times per day while spending an average of 90 minutes daily. The app is now available in 196 countries around the world and is estimated to match hundreds every second.
What is Tinder?
Tinder is a dating app that allows users to view potential visitors within a pre-defined radius and who are above 18 years old. Daters can swipe right to "like" a profile and left to reject it. Two people who "like" each other's profiles are considered a match, and they can then start sending messages via the app. The application provides a facility to report people who may be aggressive in any manner.
How to Use Tinder?
Setup your Profile
When signing up on Tinder, you provide personal information like your name and age. This is the bare minimum. You then need to set up a profile pic.
Add a Bio
You have to write a little about yourself or leave it blank. Remember, this is the section where people get creative. After choosing what interests you in your age and distance range, you're ready to swipe.
Swipe Left or Right to Like or Dislike
Clicking on someone's picture will bring up their entire profile, and Tinder has added new features like 'Super Likes'. The number of freebies (such as swipes) is limited per day.
Wait for the Match
If someone likes you, you'll get a notification, even if you've never seen their profile. You can then choose whether to reply or not. You get a match if you like the other person and they are interested to connect with you. Both of you will be informed and then it is up to one of you to make the first move.
Tinder Business Model - How Tinder Works?
Tinder has to make a profit to keep it running, so how does it generate revenue?. From Tinder's statistics, we know that Tinder attracts a lot of users but What is Tinder's business model?. Tinder follows a premium-based model to earn revenue. There are 2 versions of the Tinder business model:
Tinder Free Version
The free version provides almost every feature of the dating app, and most users use the free model. The free version comes with in-app ads, thus relying on advertising. If you want to get rid of annoying advertisements, you have to buy the premium version of Tinder. If you want to use Tinder without paying, bear with those ads!
Tinder Premium Version
The premium version of Tinder has 2 plans. The first is Tinder Plus, and the other is Tinder Gold.
By purchasing either of the two plans, you get rid of the in-app advertisements. No more annoying advertising, yay! In the paid version of Tinder, you can choose between the Plus and Gold subscriptions.
You can make monthly, half-yearly, or annual payments. Tinder Plus costs $9.99 for users under 30 and $19.99 for users above 30 years. Yes, Tinder will charge you more if you are 30 or above!
Tinder Sponsored Profile
Various events and corporate entities are now partnering with Tinder to show their sponsored content as profiles. It starts at $9 and may vary depending on the location and user requirements.
Tinder Boost Profile
Promoting your profile increases tends to increase views by 10 times as well as 3 times more matches. The price range is $1.99 to $3.99 per promotion.
Tinder Marketing Campaigns
With more than 5.9 Million subscribers spread over 190 countries, Tinder is the second most used app of these times. Even after the release of so many new dating apps Tinder stands tall holding 50 percent business of Match Group. With all these users spending an average of 90 minutes daily Tinder is a potential marketplace.
Ex Machina Campaign
Digital marketers uploaded profiles of 25-year-old AVA on Tinder just before SWSX 2015. They later revealed at the festival that she is a character from the movie. Many people swiped right for AVA and had a great conversation just to know that she is a robot, character from the movie Ex-Machina. This campaign was a huge success.
Domino's launched a campaign for their customers on Valentine' day. The campaign displayed heart-shaped photos of Pizza to both male and female profiles. If a user swipe right, they'd be matched with Domino's and would get an opportunity to win Valentine freebie and offers.
Atlanta Hawks the American professional football team created once in a lifetime experience for football. They hosted the 'Swipe Right Night' campaign, where users who right swipe would get a chance to win 'Love Lounges' filled with tinder users interested to meet other Singles.
Bud Light is the first brand to experiment with video advertising on tinder. The campaign encouraged users to swipe right for the chance to win free event passes where they can meet the love of their lives.
Not only this but Tinder has been used to conduct campaigns for the social cause. Promoting women empowerment by launching a campaign on Woman's day is one great example. Amnesty International used the platform to increase awareness against forced marriages. They posted images that lead to the Make a Choice website, where users were asked questions like marry for money or marry for love. The one answering marries for money was led to another site explaining why it is wrong and how kids are sold and forced to marry for the sake of money in some countries.
Tinder holds a huge potential to become the best marketplace if you get creative with your campaign. While doing so you get access to an active millennial audience.
Essential Features of Tinder
- Profile registration.
- Profile verification/background check.
- Advanced Search.
- About Bio or My Section.
- Choosing the desired gender.
- Like-dislike for profiles.
- Chat initiation after matching.
- Matching block.
- Report users.
- Delete the account.
User Safety And Security On Tinder
- Tinder issued a series of security guidelines, citing user safety as a priority.
- The dating app advises never to give personal information such as social security numbers, credit card numbers, bank information, or work or home addresses.
- Likewise, users are advised never to respond to any request to send money, especially through foreign or wire transfers.
- Maintaining conversations on the platform is encouraged as 'bad actors' will try to move the conversation to text, personal email, or phone conversations.
- You can block and report suspicious accounts.
- Before meeting anyone in person, it is advised to let users know online when using Tinder.
- While meeting, always meets the person in a populated, public place. However, it's okay to have some meetings in a private or remote place, and sometimes in your home or apartment.
- It is important to let friends and family members know when and where you are going.
- Organize your transport.
- Stay calm during the date as consumption of alcohol and/or other drugs can spoil your decision and possibly put you at risk.
- It is important to keep a clear mind and avoid anything that may put you at risk. Keep an eye on beverages that can be mixed with synthetic substances.
- If you feel you are in an unsafe area, turn off the "Show on Tinder" function found at the bottom of the settings page.
SWOT Analysis of Tinder
Strengths Of Tinder
- Tinder is counted amongst the leading mobile app providers for dating services and communication opportunities for users. The company has developed applications that have become extremely popular among customers, courtesy of the high demand for dating services today.
- Tinder strives to diversify its products and services. And this strategy has enhanced the company's brand value. Diversification helps Tinder to reach a wider customer base and penetrate new areas in the market.
- Tinder can track information about social network users to gather information and create the right mails for its users. The information collected by the company is important as it helps to maximize customer satisfaction and enrich the company's database.
- Tinder is inexpensive and easy to use. This user-friendliness is a USP for Tinder.
Weaknesses Of Tinder
- The vulnerability of information pertaining to Tinder's customers is one of its major weaknesses. Even though Tinder attempts to maintain the anonymity of users, the problem of the potential revelation of information still exists.
- The problem of users' prediction and aggressive behaviour is another weak link. Some users tend to go over-board (lewd comments, etc.) and this can harm Tinder's status and reputation. The consequence is potential lawsuits filed by customers who feel offended while using Tinder.
- Users on different social networking sites like Facebook tend to protect their information from access by third parties such as Tinder. This hampers the dating app's ability to create the right "match" between its users.
Opportunities For Tinder
- Tinder can maintain its stronghold in the dating segment by bringing in new features to its app.
- The company should increase its position and stand in other services and markets. And it's leaving no stone unturned for diversification.
- Tinder has the opportunity to facilitate communication and interaction between people and help them improve their personal lives. This achievement will improve Tinder's public image and increase its brand equity.
Threat For Tinder
- The main threat to Tinder is the increasing competition in the online dating and match-making segment. The audience is now exploring new apps that challenge Tinder's market standing.
- The rapid advancement in technology increases the emergence of new rivals and alternatives that can potentially remove Tinder from the picture.
- Finally, the company is continually exposed to legislative changes that may interfere with its operation. Such amendments can make tracking users' information difficult and derail Tinder's strategy, structure, and functioning.
What is Tinder's strategy?
Tinder has created a freemium strategy where the swipes are limited and if you want to swipe more you have to pay for the subscription.
Who is Tinder's target audience?
Millennials are the target audience of Tinder.
What are the weaknesses of Tinder?
Users are not completely anonymous on the platform, many users go overboard (lewd comments, etc.) and this leads to lawsuits filed by customers who feel offended while using Tinder.