Transactional vs. Relational Shoppers
Transactional shoppers illustrate lower average sales and closing ratios, and smaller profit margins.
Transactional shoppers illustrate lower average sales and closing ratios, and smaller profit margins.
Bribing a customer does not have the same effect as bribing a child. The campaign works, but the strategy fails.
Dropping price to be competitive means we’re only working harder to put ourselves out of business sooner.
If the epic failure, Groupon, taught us anything, it was that there is no value in attracting a bunch of cheap customers.
When we understand that objections come from 1 of 6 things that are missing, we are better equipped to fill the appropriate void. The trick is to read between the lines.
“We will match the price of our competitors on any similar product.” With one sentence, he converted us from relational buyers to transactional ones.
Walmart is the richest retailer on the planet. They use the gravitational pull better than anyone else. But gravity is the weakest force.
Just like the friends that go to your neighbor’s party when the freebies are gone, Transactional Customers mooch from you until there’s nothing left to give.