Monday, December 27, 2010

"Prayer is an attempt to make the almighty change his mind." Thomas Paine

Thoughts on the book Strategic Database Marketing

Transaction buyers versus relationship buyers:
- Transaction buyers are interested in price
- Relationship buyers are interested in service

I wonder if more people are becoming transaction buyers, especially with price comparison shopping becoming easier and easier thanks to apps on handheld devices and search engines like Google Shopping? You can't make much money from transaction buyers unless you're the creator of a service like Groupon that harnesses the transaction buyers for repeat business on your service generating an ironically loyal group of transaction buyers to your service.

As long as you can keep businesses coming back to post coupons through your service and pay you for the priveledge of selling their goods or services at a reduced (and profit losing) cost. This new internet based service is definitely one way to leverage database marketing with the transaction buyers.