Lovebirdz

Lovebirdz is an online dating app and website launching February 2023.  Online dating was a 7 billion dollar industry in 2020 and is expected to grow 5.6% between 2021-2028.  In the United States, 50 million people have tried online dating at least once.  Statically, 40% of heterosexual relationship start online.  The average user spends $243 per year on dating subscriptions.  Worldwide, 300 million people use dating apps with 20m paying for premium features.  Lovebirdz will focus on the 35-49 age group who are looking for serious relationships the "second time around."  Currently, only 17% of this age group is represented in the two largest online dating apps.  This leaves a lot of room for Lovebirdz to come in and consume this age group.  

The start up funds will be used for advertising and tech support of the app and website.  Currently, the Match Group encompasses 45 online dating apps and generates 3 billion in revenue.  They spent $520 million in advertising in 2021.  Lovebirdz will need to do pre-launch, launch and post launch advertising in order to compete against the other apps.  The pre-launch will be held 90 days prior to launch and will include, brand awareness with display ads, social content, bill boards, google pay per clicks and app store ads.  There will also be an app audit to ensure that we are maximizing the user experience for engagement and retention.  The launch phase will include app store optimization (ASO) to help improve impressions and product page views (PPV's) by 2-6 times and a conversion rate of 10-15% with an install conversion rate of at least 35%.  There will also be success stories and ads for social medial.    The post launch phase will be paid user acquisition campaigns on Facebook (including Instagram), Google AdWords and apple search ads.  

The tech support needed will be for maintenance provided the designers and programmers of the app and website.  There will need to be an IT Manager and Helpdesk/Desktop support hired to handle user requests.  Additional funds will be spent on the domain host, web host for React, Mail server and AWS.  Computers and phones will need to be purchased for internal employees to support a small staff.