The history of Deals in Customer Relationship Management (CRM) is an interesting one. What began as a sentence or two of text describing some discount offer to customers has evolved into far more advanced and powerful categories that have given organizations a distinct edge over the competition.
It all started with simple “deal” blurb on websites, which were often accompanied by coupons or short-term discounts. This was followed by increased competition among retailers and online stores, with each vying for customer loyalty – pushing them to constantly offer bigger discounts or throw in perks like free shipping to separate themselves from the crowd. It wasn't long before businesses realized they could use their CRM systems to not only track deals but also monitor customer behaviour throughout the purchase process.
From there, Deals grew in sophistication - the emergence of targeted campaigns based on user habits was an exciting new evolution that allowed companies to fine-tune based on individual preferences; creating ‘smart offers’ tailored around particular segments, day/time slots, location etc., all powered by big data gathered from multiple sources including web analytics and mobile app tracking tools.
Today ‘Deal Management’ employs sophisticated algorithms infused with AI capabilities to reframe old strategies using cutting-edge decisioning technology – allowing organizations more flexibility than ever when it comes to personalizing offers and propositions for different classes of customers across products & channels over time. Moreover, you can now develop complex pricing & promotional models quickly and accurately via pre-built solutions designed for usability even without coding skills!
As we look towards the future of Deals within CRM context , it seems clear – Customer segmentation will be at its core as companies move away from generic promotions towards targeted campaigns that deliver improved ROI while building lasting relationships between buyers & sellers alike. And thanks to faster computing power coupled with better data management & analysis — those boundaries are moving further and wider every single day!