Nowadays, Bumble has become the main competitor of Tinder, in terms of users. The concept can be whether a differentiation strategy or a strategy of growth hack to gain more users.
Bumble, it’s 54 million users per month and $337 million of revenue in 2020, with a freemium model, its revenues come from a premium service with two types of subscription “premium” for $22,99 the month or “boost” for $9,99 the month. There are also integrated purchases such as “SuperSwipe” or “spotlight”, the profile will appear in priority for 30 minutes, 30 spotlights are $1,67 each and $5,99 only one.
With a platform quite similar, works with geolocation, swiping to left or right and matching, Bumble becomes in 2020, the first competitor of the leader of dating application worldwide, Tinder, among people under 35 years.
Bumble got its first users by reaching the sororities by presenting all the drawbacks on traditional dating applications. Next, they reached fraternities by offering pizzas and cookies in return to sign in. But how do they make them come back?
They have developed a way to keep its users and make them come back to the application. In case of “Match”, women have only 24 hours to send the first message, then men have only 24 hours to answer too. It can be a way to force women to start to send messages, but it is also a good strategy for the brand to develop and increase its traffic. It forces users to connect every day and to talk faster to their matches, it really increases the retention rate, which helps to develop customer loyalty.
Why is this good? It develops the traffic on the platform, which is crucial for the application. This is called “Network effects”. Network effects is an important resource and can be a real advantage for the company because a digital service to develop itself, needs users and the more users there are, the more it is increasing the users’ registration as well. In fact, more people sign in at Bumble, more profiles there are, more people you can meet, this will lead people to sign in more and more because there are more “choices”.
That is why Bumble develops a good digital strategy through an attractive concept, growth hacks, and other means such as communication and differentiation.
Fiona Vandevelde
394 words.
References:
Image of Bumble.
Bumble. 2021. Bumble - Date, Meet, Network Better. [online] Available at: < https://bumble.com/en-us/ > [Accessed 22 October 2021].
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