Well, it is an inevitable truth that, free dating sites are booming like never before, but the subscription sites wither. The investors in the Edinburgh based matching service online, CUPID, clearly discovered this new notion few years back. Cupid is a subscription based dating online site, and runs other sources like LoveBeginsAt.com, Cupid.com, UniformDating.com and more. CUPID announced an amount of 3m pounds in the pre-tax loss for the six months, which ended in June. It is mainly an increase of the 20% from the premium year.
This is mainly due to the ever growing competition of the modern world. With so many other options available, people are trying their hands on the best other options available in the kitty.
Learn about the problem:
The major reason behind this drop is that lovebirds are going elsewhere to match up with one another. Even though this firm manages to turn one in every 30 singleton into paying subscribers, but the number of new users has dropped significantly.
Recent studies have indicated that at the end of June 2012, Cupid’s websites had reached to a whooping number of 113,000 paying subscribers and by the end of June 2014, it has reached to 48,000. Each one of the subscribers had to pay the website a mere amount of 20 pounds. It is mainly due to the increased competition and a quite huge rise in marketing costs which helps in attracting and retaining customers. And this weakened this firm’s position.
Its marketing strategy:
It was in the first half of the 2012 when Cupid was seen to have spent 28p on the said marketing. It is used for attracting new user across the website. And it had to spend four times more than the previous rates. It was basically the development of some specialist dating website or groups, which are further divided into clowns and wrinklies, which made it difficult for the main CUPID website to make some money.
No shortage of singles:
Even though the firm has faced some difficulties in the field of economic service, there is no such shortage of the singletons. More than 7m Britons are recently used in some active dating websites, for seeking love online. A research firm has indicted that the Britons have move up to 12% since 2011.
On a worldwide count, matchmaking is defined to be a multi-billion dollar industry. Some have even blamed Cupid’s ways of looking for love to be a major factor behind its downfall. If you target only the American market, the generated revenue of dating apps will easily claim to double within few years’ time. The leaders of these packs are Grindr and Tinder. These applications are designed to present details of the potential partners nearby and enable those who are attracted mutually to meet or chat up.
Match up with the changes:
The only way to match with the growing demand of clients is by developing the website with the changing modern technologies. This can be of perfect help while trying to get that old position back among the singletons.