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Swipate 2
Swipate 2
BUSINESS PLAN
Table Of Contents
Executive Summary
SWIPATE is a startup that offers communication and promotion services through dating application.
Establishing a romantic connection is a fundamental human need. Whether it's a good date, a meaningful
relationship or an enduring marriage, romantic connectivity lifts the human spirit. Our mission is to increase
romantic connectivity by providing a medium of communication which is a dating application. Also, to help
single segments of people charm their way into a relationship under a secured dating services that the
team gives. This will be achieved through reasonable pricing, outstanding customer service, and excellent
communication application
Swipate will target one distinct market segment that ranges from 18-30 years of age. Swipate must be cool
to look at in order to get young people that belongs to the target segment. Having one distinct large group
in a generation where technology reigns, Swipate can market its services indicates an exciting market
opportunity.
Swipate, a starting business venture, has identified three keys to success which must be closely monitored
to reach its goals and objectives. First, know our target market. Through market research (interviews, trial
and error processes, gathering feedbacks and comments), an accurate information was provided regarding
its target market. Second, is to pick right people. The hassler, the hipster and the hacker. Picking people
that have the same interests and determination leads to a progressive business. The last is to ensure
sustainable profit that makes the business run into a long-term period.
Swipate will lead by the CEO. This position provided the CEO with skills for managing a variety of different
projects. Together with the marketing and finance manager, the communication and branding executive
and the product developer, the team has the insight and confidence in developing competitive product to
compete in the industry.
General Company Description
Coinciding with the general trend toward mobile technology, Swipate Team is a startup that offers
communication and promotion services through dating application. It is a rising company that wisely
develops an application that helps by giving solutions to existing problems. Overall, the company provides
solutions especially to the people who are not in a committed relationship and as well as the company
values the factors that may affect further revenues.
Vision
Swipate Team’s vision is to establish a romantic connection essential human needs.
Whether it’s a good date, a meaningful relationship or an enduring marriage, romantic connectivity
lifts the human spirit.
Mission
To help singles find the kind of relationships they’re looking for
To increase romantic connectivity all over the Philippines
To provide the best technology for people to meet because happiness is better
shared
To provide the Philippines’ most exciting and curated dating experience
Competitive Advantages
We believed the following attributes provide us with competitive advantages in the dating
business.
Scale – user’s in the local market in which a dating brand operates is an advantage in
providing the most effective user’s experience
Strong brand recognition – one of the primary factors people consider when choosing a
dating product. Brands drive organic traffic, significantly affect ranking in search engines and play
store.
Monetization expertise – on a brand by brand basis, we continually test and customize our
offerings to determine which features to offer for a fee and which features to offer for free.
Shared leanings – while maintaining each brand’s unique character, we facilitate
knowledge and experience sharing access our portfolio in the areas of customer acquisition,
monetization and product development.
The Opportunity, Industry & Market Description
Online dating is an introductory system whereby individuals can find and contact each other over
the Internet to arrange a date, usually with the objective of developing a personal, romantic, or sexual
relationship.
Online dating services usually provide un-moderated matchmaking over the Internet, through the
use of personal computers or cell phones. Most sites and apps allow members to upload photos or videos
of themselves and browse the photos and videos of others while more recent platforms connect the app to
the user's Facebook account. Sites may offer additional services such as webcasts, online chat, telephone
chat (VOIP), and message boards.
With the growing usage of internet and online communications in every part of life, online dating
has become an increasingly popular way of meeting romantic partners. Below are facts regarding online
dating, according to report by datingsitereviews.com:
Tinder is the most popular dating app among Westerners with $1 billion valuation as of
March 2015
80% of gay men now meet their long-term partners online, compared to 14% in 2001
Would prefer not to meet people in real bar environments, the typical place people of this
age group meet others
United States
The U.S. online dating market is valued at $2bn with an annual growth rate of 5% and is
considered to keep growing as internet and mobile usage rise, according to a Dating Services
Market Research report done by ibisworld.com.
According to the U.S. Census, there are approximately 54.2M single people in the
U.S.
10% of male adults and 17% of adults aged 25-34 have used online dating sites
40 million Americans use online dating services which represents 40% of the
entire U.S. single-people pool
A survey made by Statistics Portal found that the most active users in the online dating
scene are aged 15-34:
70%
60%
50%
40%
30%
20%
10%
0%
There are approximately 2,500 dating sites in the U.S. Only a small handful of them (fewer
than 25) are considered “major” with more than one million current, active, and unique members.
The top 5 online dating websites in the U.S. based on unique monthly visitors' number are:
Sites Estimated Unique Monthly Visitor
Match 35 M
Badoo 6M
Zoosk 11.5M
OkCupid 10.15M
Philippines
The National Statistical Coordination Board (NSCB) released the statistics that shows
which parts of the Philippines have the highest ratio of single males to single females and vice
versa.
The table below is for women searching for men:
Competitor Analysis
As stated above, there are thousands of different websites and mobile applications that
offer online dating services. Some target the mass market while others specialize in niche markets
such as the gay community (Grinder), married people (Ashley Madison), university and college
graduates (Alpha), etc.
There is also a growing trend of location-based online dating services which match
individuals who are geographically related. Another popular platform for online dating is Facebook,
which has numerous pages that are dedicated for dating.
Nevertheless, none of the competitors offer a live, online nightlife environment in their
platforms.
Badoo, founded in 2006, is an online dating social networking service. The site operates in
180 countries and is most popular in Latin America, Spain, Italy and France. Badoo ranks as the
281st most popular website in the world, according to Alexa Internet as of April 2014. The site
operates on a freemium model, where the basic service is free for everyone but users have an
option to pay for premium features.
Badoo has several premium services. For example, the "Encounters" game allows users to
click "yes" or "no" on other users' photos and if there is a match the two users are notified. The site
allows users, in return for a fee, to use the "Rise Up" feature which give their profile more visibility
on the site for a limited time.
The high percentage of direct visitations indicates that Badoo is widely common among online
dating consumers.
Strategy
We are pursuing the following principal strategies to grow our dating business:
Improve customer acquisition efforts: We continue to focus on building our traditional paid
acquisition channels, including offline media, with the intent to reach new customers, increase the
demand for dating products and drive repeat usage
Freemium
Swipate can be downloaded for free from both App Store and Google Play. There will be
certain features which the user has to pay in order to unlock such as reserving 5-stars hotels and
prestige places.
The premise of this model is to attract people to Swipate and give them rich possibilities of
what Swipate can do without giving them all the options. The goal is to accumulate and engage
Swipate users until they are willing to pay for additional in-app tools.
As Swipate will become more popular, more premium features will be offered for users.
The basic features will always stay free to increase traffic.
Sponsorship
There are many types of potential sponsors for Swipate – Starbucks, Bubbbalab, SM
Movies, District 8 Bar and more. As Swipate traffic grows, these sectors will have an opportunity to
advertise on a dedicated online platform which has huge crowd of users.
Team: Management and Organization
Swipate offers product and services that both compete and collaborate. The company attempt to
empower business people and grow with our brand. Our business compete with brand characteristics,
product features and business model. Also, it attempts to centrally facilitate excellence and efficiency
across the entire portfolio by:
Team
James Keannel Leop – CEO
A 3rd year Civil Engineering student. He is responsible in making major company
decisions, managing the overall operations and resources of a company.
Dayanara Jacinto – Product Developer
A 3rd year Computer Engineering student. She communicate with each of the client
to gain a vision of what the client wants. She makes research the market in which the
product will be sold to find product trends and try to gain competitive edge.
Jayson Jurado – Brand Communication Manager
A 3rd year Civil Engineering student. He continually enhancing a particular brand
image; increasing brand awareness, and providing after-sales
Marion Pacifico – Finance Manager
A 4th year Industrial Engineer student. He analyze the profit-maximize idea . He
produce financial reports, direct investments activities and develop strategies plans for the
long-term financials goals our company.
Marketing Plan
PR Campaign
As the platform targets potentially millions of clients, the best way to generate public awareness is
by creating significant press coverage. Instead of engaging potential customers, the PR campaign creates
interest among the audience and drives them to act and come to the platform.
As part of its PR campaign, Swipate will advertise articles and reviews in leading websites, sponsor
events with dedicated crowd such as mass parties (e.g. Battle Bands, Hydro) universities and colleges.
Swipate plans, as part of its launch in Philippines, to manage several promotion crews that will
work inside major clubs and encourage customers to install and use the app using incentives such as free
drinks and free access to the club.
Social Media
As part of the digital media strategy, Swipate will look to reach potential consumers also through
social networks such as Facebook and Twitter. Using Facebook’s targeting options would allow limiting the
ads to only people who have shown interest in online dating.
In-App Promotion
Users will have the option to invite other friends from Facebook to install the app and join the
platform. This strategy has proven itself very effective in many other mobile apps such as Candy Crush,
Zynga, ect.
To encourage users to invite friends, Swipate will offer users free coins for each invite.
Operation Plan
Financial Plan
The following financial plan represents the future prediction of
Swipate’s operations. The assumptions and projections are supported
by the figures and strategies described in the business plan.
All figures are in Peso unless stated otherwise.
For a period of 12 months, that will include app development and
market penetration of Swipate into the Filipino market as a pilot,
Swipate will require a total funding of PHP 300,000.
The funds should be injected into the company in two phases:
1. PHP 200,000 will be injected upon the signing of the
investment agreement.
2. PHP 100,000 will be injected upon reaching 60,000 app
installations
Fixed Assets Development
Q1 Q2 Q3 Q4 Year 1 Year 2 Year 3