Buyers tend to be transactional-oriented or relationship-oriented. Transactional buyers are concerned about today’s purchase. They do a lot of research investigating the product they are considering buying and consider himself or herself a product expert. They are not concerned about service, trust or relationships. They are concerned primarily about price and terms. They enjoy negotiating and trying to extract as many concessions out of the salesperson as possible. They see what they are doing as a game. A game where they win and the salesperson loses. They will “milk” the salesperson for free information, technical data, etc. Because of their “I win you lose” approach they have no loyalty. They are a salesperson’s worst nightmare.
Relationship Buyers consider today’s transaction as one in a series of many. They do not enjoy playing the “shopping game.” They don’t enjoy comparison shopping or negotiating. They are looking for a Business Partner or Trusted Advisory who is an expert that they can trust. Once they find someone they trust they are loyal and tend to be the best repeat customers. While relational buyers consider the money they also realize that their time is better spent doing something other than shopping around. Because of their “I win and you win” orientation they are honest, open and pleasant to deal with.
Intentionally or unwittingly, companies will target either the transactional or relationship buyer. Who is your company targeting? What kind of business are you building?