Scott Grimes is CEO of Atlanta-based Cardlytics, a transaction marketing company that unites banks and merchants to offer new ways of reaching consumers. He can be reached at scott@cardlytics.com.
A lot has changed between the early 20th Century, when John Wanamaker delivered his famous quotation about the inexactitude of advertising, and March 2011, when Chris Calabrese argued for greater consumer privacy protections at a U.S. Senate Committee hearing.
Transaction marketing gained widespread acceptance among retailers in 2010, as they began to recognize marketing in the electronic banking channel as a far more cost effective way to encourage repeat business, increase the average transaction sizes and drive same-store sales.