Save isn't even remotely necessary as its selling good, just not as great as the PS4. Xbox One needs 5 things and then sales will stabilize and they will be fine going forward.
1. Have a incredible E3 with great exclusive games, unannounced games, surprises, and new features for the system. Gotta knock it out the park!
2. After showing all of that at E3, close with a price cut that at least meets the PS4 price, but even better undercuts it if possible, with Kinect still in the box. For those that don't want Kinect, let them sell it on EBay/Amazon and recoup a few bucks. For those that do, keep updating it like Twitch Broadcasting, Xbox Fitness, and Upload Studio. Just keep refining the experience. Get that Netflix Kinect app ASAP.
3. Stop talking about graphics comparisons and all of that. Focus on those new SDK's. Keep updating them, work on finishing the DX12 support and use the cloud more. In total, maximize what the One can do instead of talking about how it compares to the PS4. Stay focused in your own backyard.
4. Games for Gold must meet or exceed PS+ - Give Live the value of more up to date free games.
5. The rumored 360 backwards support on disk rather than the cloud DO THAT SHIT! That would be amazing and its worth focusing a great deal of effort on.
Those 5 things do not guarantee the One will outsell the PS4. But they do guarantee the One being successful, profitable long-term, and could possibly get them back in the race. Price is key, but hammer the games and features and finish E3 with the price drop. Entice many of those 80+ 360 owners to upgrade in their own backyard. PS4 is at 7 million, MS is at 4+. You are not at all out of a race after five months with those many millions and millions of gamers who haven't bought into next gen yet. But the climb back will be tough, but it can be done. Hungry, desperate, fighting MS is best MS.
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