Are you ready for the most romantic holiday of the year? If you’re still looking for love or the perfect way to express how you feel, consider yourself lucky! This season, Love Hearts®, a popular Valentine’s Day staple, will have a few new phrases added to the mix. Fourteen phrases were chosen as part of a contest this year to celebrate the candy’s 60th anniversary and to help them stay up-to-date with how people choose to communicate. Winning phrases – including ‘YOLO,’ ‘Take a Selfie,’ and ‘Swipe Right’ – will definitely help the confection stay current with today’s lingo.
And if you’re just not sure what ‘Swipe Right’ means, allow us to explain. Tinder is a mobile matchmaking app that uses location tracking to show you profile pictures of people in your area. You swipe right if you like what you see, left if you don’t. Among Millennials, Tinder is currently very popular. In fact, our recent Valentine’s Day BuzzPoll found that for one-third of Millennials, Tinder is their most favorite or most used app. They express appreciation for Tinder’s casual approach: it’s easy to meet local match-ups and there is a large variety of men/women to browse through – unsurprising, given the app’s current popularity.
OKCupid, eHarmony, Plenty of Fish, and Coffee Meets Bagel are also deemed Millennial favorites in our study. You might be asking, how do Millennials choose which matchmaking service is right for them? We found that unique reasons for preference started to surface for each app. For example, OKCupid is preferred for its user-friendly interface and for being easy to use and understand. Long-term relationship seekers appear to gravitate towards eHarmony, with a handful saying their system is realistic – asking detailed questions before matching you up – and users feel it has the most potential for success.
We also found that the majority of apps mentioned are favored for being free. Then it got us wondering, how are these online dating sites making money? A little digging helped us discover that while most of these matchmaking apps and websites provide free options, they currently generate revenue through a combination of brand advertising and paid upgrades or memberships. Like most websites and apps, Tinder is completely free – except for a new, less popular option called Tinder Plus. Both options have yet to allow brands to openly use their app for advertising purposes; and, with its widely popular status among Millennials, this is making some brands a bit anxious.
Earlier last year, Tinder employed experimental advertising through profiles for Domino’s Pizza and the U.S. TV show, “The Mindy Project.” Most recently, Gillette teamed up with Tinder to test out the theory that ladies prefer men with well-maintained facial hair (as opposed to unkempt beards). However, this approach was not considered traditional advertising and was not purchased through ad inventory on the Tinder platform.
While Tinder keeps toying with the idea of raking in advertising revenue, it has yet to settle on a strategy. So for all those brands out there that may want to strike up a relationship with Tinder in hopes of getting in front of the Millennial audience, you’ll just have to wait. Tinder’s just not that into you… yet.
For more info, click here or scroll below to see how Millennials these days are using online dating apps to find ‘Love App-tually.’
Photo credit: Love Hearts®