Looking into the IPO filings or analyst statements on Bumble. What does it say?
What does "The Street" think the future of Bumble?
According to the following recommendations of Bumble, make a detailed plan about how the strategy needs to unfold over the next 3-5 years such that they are setup for 10 years.
Recommendation: Physical Expansion
The café is a great idea for maximizing Bumble’s interest to consumers. Potential customers who may not enjoy online-communication or social platforms in general might become interested in the company once they see a physical location opening up. Some locations do well simply because of the interest they raise from being unique – for example, the Nutella Café in Chicago. However, the restaurant industry is one of the hardest industries to stay in, and restaurants in NYC are even harder. 80% of restaurants in NYC close within the first five years of business. This isn’t always the case, especially for landmark locations, however, it is a risk. A recommendation would be to continue the effort to expand physically, although this could be done more feasibly by focusing on creating more in-person events. Speed dating events hosted by Bumble, Singles Nights, and the like are an opportunity for Bumble to capitalize on the in-person dating burst that may come following the pandemic, without investing in the infrastructure required to maintain physical locations.
Recommendation: Expand In-App Opportunities
It is recommended that Bumble focus on enhancing the UX of the Bumble App itself. For example, profiles of Bumble could maintain the priority of finding relationships, but include enhancements of customer profiles and engagement as do social media apps such as Instagram and TikTok. This opens the potential for even more people to have an interest in joining, simply to see their current friend’s profiles and have increased visibility of their own. Other ideas to enhance the UX of the app would be to increase variations of games and activities, ways to schedule events, and a way to create specific communities on the app so that people in similar areas with similar interests can all come together in person.
Recommendation: Upgrade the programing of the App
According to the investigation, all the functions of the app are simple and easy to operate, but there are always some comments indicating that there are some small bugs in the app, such as the problems of uploading photos, opening the software, logging in, and checking the profile picture, etc. Therefore, the programming program may also need to be optimized.
Recommendation: Increase the promotion of Bumble in other countries
While Bumble is active in 150 countries, the majority of its popularity resides in the US. From the SWOT analysis, Bumble does not have that many users yet, and the database is relatively small. Its primary goal is to increase its visibility and its user base, and expand its database so that it can better serve its customers/users. By pushing for greater international expansion, the Company can capitalize on its own strengths to win the competition.
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