Back in 2010, T-Mobile was getting ๐๐ซ๐ฎ๐ฌ๐ก๐๐ by AT&T and Verizon. They were the fourth telecom company in the US. And they were struggling to grow in the competitive market. T-Mobile executives even tried to sell out the company to AT&T. But the US Department of Justice blocked the deal. After the deal fell through, T-Mobile executives felt hopeless about the fate of the company. But it became a blessing in the long term. How? Well, T-Mobile had used the industryโs โ๐๐๐ ๐ก ๐๐๐๐๐ก๐๐๐๐ โ for years and became a copy of its bigger competitors. And they ended up failing. But their new CEO John Legere was determined to make T-Mobile successful. And he knew that a minor change couldnโt turn things around. So they had to do something ๐ซ๐๐๐ข๐๐๐ฅ. He loved one idea his team proposed: Take everything customers hate about carriers. And do the opposite. Like what? Like no service contracts, free international roaming, or not counting music streaming against usersโ data limits. The idea was simple, yet ingenious: Position T-Mobile as the good guy against big (and unlikable) companies like AT&T and Verizon. And become different not only by words but also by action. This radical campaign had to have a special name. And they chose a good one: ๐๐ก๐ ๐๐ง-๐๐๐ซ๐ซ๐ข๐๐ซ. You know the result? People loved it. The Un-carrier changed the trajectory of T-Mobile. It became a long-term campaign (and the companyโs motto) with new benefits for customers every year. Thanks to it, T-Mobile took its market share from 10% to almost 30%. And today T-Mobile has a higher market cap than ๐๐จ๐ญ๐ก ๐๐&๐ ๐๐ง๐ ๐๐๐ซ๐ข๐ณ๐จ๐ง. The moral of the story? Most executives overfocus on bigger competitors. They copy them. They try to become similar. And they tell customers: โWe are actually the same. But we are only better/faster/cheaper.โ But it never works. Customers see through the clichรฉ words. And they prefer the original instead of the mere copycats. So trying to beat bigger competitors by becoming like them is a fallacy. You have to offer something else. You have to ๐๐ ๐๐ข๐๐๐๐ซ๐๐ง๐ญ.
Love that
Salary Negotiation โพ Interview Prep โพ Let data negotiate your salary for you. Get a personalized Salary Data Report โพ MS in Neuroscience & Education โพ Certified in Positive Psychology โพ #girldad
1moHelp your customers "throw stones at their enemies."