Why Dating Memberships Are Going UpMarket…and How to Create Your Own Premium Subscription

There are so many subscription apps for dating — Tinder Match, Hinge, OkCupid, etc. But the new(ish) thing is higher tiers. Now that “everyone’s on dating apps” — from young adults looking for casual connections to the over 50 crowd, as well as people in every niche and region, there’s more room for specialization. We’ve seen specialization by interest like JDate, Farmers Only, and SilverSingles. The next path is upscale. eHarmony led this route with their algorithm designed to help serious singles find a permanent partner.

Designed to help serious singles find a permanent partner.
Photo by Juan Pablo Serrano Arenas

And now, the popular dating app owned by Match, is reportedly developing a new high-end, exclusive dating offering called Tinder Vault. The subscription service is expected to cost $500 per month and will offer benefits such as 24/7 concierge for dating advice and access to Tinder’s most “active and influential members.”

According to Demetrius Simms from Robb Report, the service is aimed at “big-spending singles” who are looking for quality matches and personalized matchmaking. The new offering will be pricey, but not as much as TheLeague, also owned by Match, which can run $1,000/week.

So how does it work?

Tinder Vault will use algorithms, not human matchmakers, to connect their “high intent members” looking for quality matches and experiences. The Daily Mail’s Matthew Phelan reports that the service will be marketed toward users looking for a more personalized experience on the app.

Tinder’s Chief Product Officer, Ravi Mehta, stated that the company is always looking for ways to offer more value to its users, and Tinder Vault is one way to do that. He added that the service is still in development, and the company is still figuring out how it will be rolled out.

The introduction of Tinder Vault is a part of a growing trend of higher tiers of subscription apps for dating. As more people turn to dating apps to find love, there is more room for specialization. And the high end is potentially the most lucrative.

Relationships are perhaps the ultimate forever transaction
Photo by Emma Bauso

Relationships are perhaps the ultimate forever transaction, so people might be willing to pay a premium for personalized matchmaking, extra security, or access to wealthy/educated/beautiful people. However, it remains to be seen whether Tinder Vault will be successful in the long run, especially given the high price point. Tinder Vault may face challenges in attracting users who are willing to pay $500 per month for a dating app subscription. That’s why they’re experimenting!

So how can Tinder, or any company trying to go “upmarket” maximize the likelihood of success?

Here are some tips:

1. Identify the segment of current customers who are clamoring for “more” and express a willingness to pay. It may be new features, or a higher level of service and personalization, or a greater volume of whatever it is you’re offering. In the dating world, features might include background checks, access to a live matchmaker, or a guaranteed number of “matches”.
2. Explore whether there are further opportunities to offer “more” by layering in exclusivity. People seeking a match might want to limit who sees their profile to people who meet certain criteria or to be invited to small events.
3. Once you’ve identified this segment, assess the size of the total available market or “TAM” to ensure that the investment in the new tier is worth the effort.

Before launching any new tier broadly, test with a small representative sample, both on acquisition benefits (will people be willing to sign up at the price you have in mind) and engagement/outcome benefits (will the new offering keep members from canceling, and result in better, faster results). Tinder is in this experimental phase now.

Finally, a word of caution — the more tiers you have, the more options your customer has to wade through. Make it easy for your buyer to find the “right offering” for them, and be disciplined about how many offers you have.

To build subscriptions your members can trust, they need to have confidence that their investment will result in achieving their desired goals, and solving any ongoing problems.