On Taking Market Share: T-Mobile’s Legere Leads the Charge
The article in the January/February Harvard Business Review (HBR.org) regarding the unconventional approach to taking market share in the wireless industry that John Legere, CEO of T Mobile, is utilizing is similar to what Nextel Communications did in the mid 90’s. Granted, the market, products and players have shifted significantly from 22 years ago, but the aggressive style that Legere embraces reminded me of the position that Brian McAuley and Morgan O’Brien created for the new-kid-on-the-block (Nextel) in the digital world. The tactics are different (Nextel didn’t trash talk), but the end goal remains the same; how to take business away from the competition.
Below are excerpts from this great read. For the full article, go to https://hbr.org/2017/01/t-mobiles-ceo-on-winning-market-share-by-trash-talking-rivals
The following four initiatives are what Legere has embraced to grow T Mobile’s market share. It is working, as T Mobile has 69 million customers now, and increase of 110% from when he took over in September of 2013.
Ask Why Again: challenge the status quo on the core beliefs and mission of the organization.
Pick a Villain: who will you go after to take share from? AT&T has been T Mobile’s target.
Tweet Reach: employ Social Media to get the message out, as well as to LISTEN to what your customers and competition are saying.
Number One in Service: Legere has a live feed to his phone where he can listen in at any time to Customer Service calls. It is working, as the churn rate (when customers fire you) has been cut in half.
In summary, Legere says the following: People want authenticity from leaders, not canned phrases full of legalese. When you practice what you preach, you don’t have to preach so loudly.