Transaction Quotes (15 quotes)
While all marketing focuses on gaining clients and increasing profits, relationship marketing and transactional marketing take different views of the role of the. First, by way of definition, a transactional sales approach is Relationship selling is characterized by frequent contact, trust and honesty. Relationships take on many dimensions, areas defined by polar opposites that every person in a given relationship falls somewhere within. We commonly hear .
Typically, these are product rather than service-based.
Relationship Marketing vs. Transactional Marketing: A Biased Discussion
Buying criteria usually hinges on price or ease of acquisition. This is usually service or solution-based. The difference between the two can be easily understood from best-selling author Roy H. Their only fear is of paying more than they had to pay.
Transactional shoppers are looking for price and value. They enjoy the process of comparing and negotiating and will likely shop at several stores before making their decision to purchase. Consumer Reports are published primarily for the transactional shopper. This is the family of relationship-style dimensions, and of particular interest in this article is that of devotional versus transactional.
In this dimension, on the far left we have devotional love.
In its purest form, devotional love is altruistic in nature; the individual gives love completely and freely and expects nothing in return; they are devoted to the other individual in all ways, even in the absence of returned love.
This pure form of devotions is rare, and not entirely healthy in an intimate relationship.
On the opposite end of this dimension is transactional love. This form of love is like a business deal; the individual loves the other, and often dearly, but it is contingent upon reciprocity. In other words, love is given in great amounts so long as love, or some other desired outcome or combination thereof, is returned. Additionally, purely transactional love is dependent upon the rate of return; if the perceived return is of diminishing value, then so shall be the output going forward.
This type of love, in its purest form, is not healthy either; some would argue that this is not, in fact, love at all.
Relationship Marketing vs. Transactional Marketing
Every individual falls somewhere on this spectrum. We all want to believe that we are somewhat closer to the devotional side and at times we probably are.
The vast majority of lovers, however, are somewhere close to the middle. There is no right or wrong combination; not in isolation, at least.
The problem occurs when there is a mismatch in relationship style between the individuals. While the Internet has reduced face time with clients, it has provided more and different avenues to develop relationships with current and prospective clients.
Some product companies never had direct relationships with their customers before the proliferation of the Internet and social media. The stores that carried their products exclusively built and maintained the client relationships. Now, manufacturers are reaching their customers more directly, branding and building relationships through interactive and educational features on their websites, blog articles and posts on their Facebook pages.
Retaining Customers When your business is moving product, it may be tempting to put all resources into marketing tactics that bring immediate results. However, when you consider that acquiring new customers can cost as much as five times more than retaining current customers, according to Emmett C.