How to gain market share in the Retail Sector? Changing the way we change
How do you gain market share in the Retail Sector? In the world of the Retail and Large Distribution sectors, the competition to gain market share is fierce. So how can companies stand out from the crowd and attract customers to their products and services? That’s where Madavi’s own, unique and disruptive methodology, which we call “Change the way we change”, comes into play.
This disruptive strategy is having a very positive impact on important companies in the Retail and Distribution Sector, such as Eroski, Fnac or Maximo Dutti, Vegalsa or Continente, all Madavi clients in which we have mobilized hundreds of employees, generating customer satisfaction and a pride in belonging.
How to gain market share in the Retail Sector
Gaining market share in the Retail Sector is like winning the gold medal in an Olympic event: it is the ultimate goal and all competitors are willing to do whatever it takes to achieve it. And it is no wonder, because in such a competitive sector, market share is the currency that determines who survives and who sinks into the depths of oblivion. It’s as if you were fighting for the throne of the retail king, where each customer conquered counts as another soldier in your army. And as every good leader knows, the more soldiers you have, the more powerful you will be.
In this war to gain market share, companies are willing to invest large sums of money in advertising, promotions and discounts to attract customers. They are also willing to constantly innovate to stay relevant in a constantly evolving market. Additionally, they are willing to carefully study their competitors and take advantage of any opportunity to outperform them. But only rarely do they succeed in the challenge.
Furthermore, it is not only about gaining more customers, but also about retaining them and building loyalty. In this regard, companies seek not only to satisfy their customers’ needs and desires, but also to generate a feeling of pride and belonging towards their brand, both internally and externally. They want their customers to become true ambassadors for their company. How?
Disruptive methodologies: “Change the way we change” as a strategy
The value that Madavi offers is a very simple and powerful advantage: The crucial decisions/goals, the success of which depends on the will of many, are achieved quickly and effectively.
The most successful cases we have of this competitive advantage occur in the Retail and Large Distribution Sector since they have thousands of people distributed across the territory, and we usually achieve three notable achievements:
- Gain market share, generating a sales-oriented attitude among all the people who are at the point of contact with the customer.
- Maximum customer satisfaction.
- Pride in belonging.
Fernando Iglesias, CEO of Madavi, explains it to us in this video:
How do we do it? By changing the way we change
Changing the way we change is a methodology that is unique to Madavi. It applies different tools, among them Appreciative Inquiry. In a world where competition to gain market share and customer satisfaction is fierce, this technique presents itself as a true secret weapon for companies that want to stand out and win over their customers. Appreciative Inquiry focuses on identifying and enhancing the positive aspects of the customer experience, rather than concentrating on problems or deficiencies. It’s like holding a magnifying glass over what works well and amplifying its impact. Moreover, this methodology generates a domino effect in the Retail Sector, since by increasing customer satisfaction, the pride in belonging to the brand also increases.
Appreciative Inquiry is just one of the methodologies we use to help companies “change the way we change.” In this previous post, we explained those Madavi methodologies.
Appreciative Inquiry in the Retail Sector: Gaining Market Share, Customer Satisfaction and Pride in Belonging
Appreciative Inquiry involves focusing on the strengths and positive aspects of an organization, rather than concentrating solely on problems and deficiencies. In the Retail Sector, this means creating a shopping experience that is memorable for customers. This experience is produced by many factors, but perhaps the most mentioned and least responded to is customer interaction with people in the store. In the interaction of a customer with an employee, there is a lot at stake – sometimes everything.
Imagine this: A customer goes into a store and not only finds what they are looking for, but also feels valued and appreciated. Appreciative Inquiry seeks precisely that, generating positive emotions in customers and turning them into brand ambassadors.
By using Appreciative Inquiry in Retail, companies can discover what makes their customers feel special and valued. By identifying these strengths and leveraging them, companies generate greater customer satisfaction and foster a sense of brand loyalty.
In addition, we have seen how a sense of pride of belonging is fostered among both employees and customers. By highlighting the company’s achievements and successes, a positive and motivating environment is created, impelling everyone to work together to achieve common goals.
Appreciative Inquiry is not only about investigating what customers want and what has been done well, in order to repeat it, but also mobilizing the entire organization, especially those at the point of contact with the customer, towards a common goal: greater sales and better customer satisfaction.
Because of that, the disruptive effectiveness of appreciative inquiry also lies in its ability to mobilize thousands of employees simultaneously.
The most common approach is to detect the problem, analyze it and solve it. That involves analyzing when the customer complains and trying to find out why, which generally leads to finding a culprit, when what we want is a change. Why don’t we replace the paradigm of what we don’t have with that of abundance, that of our strengths? Analyzing the best experiences with customers, according to their protagonists, the employees. Each person recounts their best experience with a customer; a moment of which they feel proud, where the customer expresses gratitude. And from these stories, small changes emerge that can be carried out based on real experiences in achievable learning.
But here’s the key: by focusing on the positive, on what is already working well, you are creating a solid foundation on which to build your marketing and sales strategies. You’re not just selling a product, you’re selling an experience, a story that consumers want to be a part of.
