MARKETING STRATEGIES | NEW BRIDGE PROTOCOLS
If you're a new bridge startup looking to get a piece of the pie, or a VC helping bridge protocols grow, Tide recently published a great piece on how to approach market entry.
Problem 👉 Users want to bridge as fast and cheaply as possible, but security is a hard selling point to convey. Network effects are also not as clear as for other protocols, and providing liquidity to bridges is a sophisticated operation for the average web3 user.
The Current State 👉 Average daily volume of bridges in Q1 2023 was around $200M, and branded bridges are eroding the market share of chain-native bridges.
Strategies 👉 To avoid competing solely on fees, focus on B2B partnerships and integrations, and on B2C campaigns for brand differentiation.
Manage Your Costs 👉 Look at CLV or the Customer Lifetime Value to manage your marketing budget effectively 👉 Put an upper limit on CAC or customer acquisition costs.
Bridges should differentiate CLV by user clusters and adapt their CAC strategies accordingly to maximize their growth potential.
medium.com/@Tide_web3/navigating-the-challenges-of-growth-in-the-bridge-space-980a5cff80b1