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[tirthhvyas]

What is the BARS approach and why should every young startup use it?

The BARS approach abbreviated as Branding, Awareness and Acquisition, Retargeting, Responding and Retention and Support, is an outbound strategy that every startup should abide by. As a GenZ entrepreneur and a startup owner, I have identified them as the 7 pillars of every startup and even a working enterprise. Having these 7 pillars, the startup can avoid and even dodge the high tides that the market of red oceans throws at them.

Branding: What every startup founder aims for is a brand that sells itself, brands that are easily distinguished and known by people. Every startup, in order to be successful has to have a consistent branding strategy that stirs up curiosity and contentment amongst its audience.

Awareness: A brand that the audience is aware of and is able to distinguish from other brands, is a successful brand. It is essential for every startup, to make its target audience aware of the products or services that they offer. There are two key components of brand awareness, Brand recall and Brand Recognition, that every awareness campaign should abide by.

Acquisition: When the startup makes the audience aware of the products or services that it offers, it is time to acquire them. It acquires the set of customers by attracting them, using marketing and sales campaigns, offering them value and also solving their issues. They do this by maintaining consistency in their offerings and when the audience observes the credibility, they are converted into potential leads.

Retargeting: It is essential for every startup to retarget its potential leads. Losing prospective clients and not converting them, is what every startup should avoid. As a startup owner, I’ve been through the situation of losing a prospect due to not paying much attention, and as a result, I consider Retargeting as a very important step of Customer Acquisition.

Responding: After retargeting it now becomes important for the startup to respond to its prospects. Potential clients have some doubts about the product or service and it is very important for every startup to solve these doubts and assure them. Responding is the last step of customer acquisition and is indeed a very important one.

Retention: What every young startup needs is a set of loyal clients. Every startup goes through thick and thin during its run, and what really distinguishes a successful startup from a failed one is the number of customers that stayed loyal to the firm even when it faced hard times. Having proper retention strategies can make a startup stand ahead of its competition.

Support: Retention can not occur if the startup does not provide good customer support. What every customer needs is a two-way relationship. They stay loyal to the startup and the startup stays loyal to them. A startup that provides value and support to its customers can win and stay ahead when competing in a space of red oceans.

When executed with precision, these 7 pillars can become the pioneers of the company and can help gain a competitive edge over the competitors. In a contested market space of red oceans, having a competitive advantage can help the startup sail through and create a brand that the audience loves to use.