Regaining Market Share

Viewpoint by Chiaki Nishino, Partner

With rare exception, new competitive offerings are inevitable. Especially dangerous are those that change the rules of the game, as companies like Dell have painfully taught their industry. While it is difficult to accurately predict when and how competitors are going to attack, you already know where the battle ground will be: your current customer base. This is why customer centricity tends to pay off better than competitor paranoia.

Successful companies apply a holistic approach to delivering superior customer experiences. Understanding how every interaction with your customer impacts conversion, the perceived value of your offer, and loyalty is key to your defense strategy. It will allow alignment of both processes and structure of your entire organization to turn customers into true enthusiasts. Realizing that they still will be vulnerable to the seductive power of your competitors, it will take them longer to make the switch. This valuable delay could provide the time needed to respond with an enhanced experience, better product, lower price or even new business model to battle the ruthless competitors.