HubSpot ROI | Is it worth investing?

 In Business Wisdom, HubSpot CRM, Marketing, Sales, Sales & Marketing Automation

For any investment, if you can earn decently more than what you have invested, it’s absolutely worth it.

To gain more insights on whether HubSpot is worth investing or not, I interviewed the Director of a Niche Services Company (Let’s call him Nick).

Nick has 15+ years of industry experience. He started using HubSpot for his company 3 years ago. He definitely finds HubSpot a beneficial move for the company.

Let’s hear his story, as to what challenges he faced without HubSpot and how HubSpot solved them for him.

#WordOfCaution: HubSpot is not a magic wand but it’s definitely a great tool. Wisdom lies in how you can use HubSpot to get the most out of it.

His Story:

I lead the sales team at my company

15 years ago it was a one-man show.

Me and my two friends

We had just started our small company.

I was responsible for sales.

My partners took care of rest.

Together we built a very good business.

We started seeing more clients approaching us.

We got more work than we could handle.

As we began to grow, we

brought more people on board in operations team

In order to grow sales team

we brought in a high paying sales veteran

and few more people to handle

initial sales activities like

cold calling ,  emails,

making presentations,

finding leads etc.

Growing Sales Team

We saw an year on year increase in sales

until this happened….

Our sales graph turned into a straight line from an upward slope!

Although, by this time

we had a big sales team..

high paying sales veterans…

even then the graph won’t budge.

We began to troubleshoot…

sought advice from experts…

one Venture Capitalist told us that …

“Your sales process is broken”

we could not understand…

what a broken sales process means.

we began to dig deeper….

looking for guidance from where-ever possible….

then we heard about HubSpot..

How?

By Googling our Sales Problems

HubSpot on Google is a

giant cluster of data about

improving your sales performance

“HubSpot gives tons of Free but Genuine advice”

You can’t miss out on HubSpot

While searching for any of your business problems

Explored it a bit ….

and got convinced.

It seemed as if integrating with HubSpot will repair our broken sales process.

Invested in HubSpot!

It costs us somewhere around $10000 per year.

But even after doing this investment …

we could not see the change

we expected in our sales…

However we continued to…

log in our sales data into HubSpot sales tool.

Gradually by experimenting….

by learning from experts…

by using our business acumen..

We have nailed it with HubSpot!

And all I can say is,

HubSpot Sales is a great tool…

but it’s extremely important to know….

How to use it ….

Let me give you a few examples…

Hubspot makes Contacts Handling Super Easy.

I travel across the globe for sales…

USA, Europe, UK, UAE …..

for more than 6 months in a year…

sometimes to touch base with premium clients…

with the intent of getting more business…

sometimes to warm up relationships

with old/inactive clients…

sometimes to pitch to new clients…

face-to-face conversations have helped me a great deal…

With HubSpot I can fetch all the information about

my clients in minutes….

It’s just like asking Alexa…

” Pull me a list of all the clients

located in SFO

with the details of

Company details, deals, projects, email track, type of work etc.”

This list helps me a great deal in landing meetings

thus bringing in more business.

#WordOfCaution: All this is possible only if your sales representatives login detailed information about clients and prospects.

HubSpot facilitates Contacts filter creation with hundreds of attributes. You can choose the ones relevant to your business.

HubSpot makes Remote Sales Team Management Easy.

For most of the time in a year

as I am out of my hometown

hence I manage my sales team remotely

it was quite a challenge

but with Hubspot it’s become pretty easy

to effectively manage my sales team.

let me explain…

I have 15 reps in my sales team

Each member is involved in different sales activities

and not just one sales activity but many of them…

 

 

 

 

 

 

 

 

 

 

 

 

 

 

One rep is:

preparing a proposal for client A

holding a presentation for client B

following up with client C on project completion

Another rep is:

writing a cold email to client D

holding a discovery call with client E

Yet another rep is:

doing some other sales activity.

All in all, as a whole, the team is involved

in hundreds of different sales activities.

And at many places they might need help

either to move a client from presentation to proposal stage

or from proposal to closing the deal….

or could be anything else.

So if I can access all this information in a streamlined manner

something like as shown in picture below….

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HubSpot helps me warm up relationships with in-active clients.

Think of a pair of shoes..

and tell me the first brand that comes to your mind.

(It’s Nike for me) .

Or think of milk..

and tell me the first brand that comes to your mind.

(It’s Meiji for me).

The reason I asked this question is

to introduce to you a popular concept called

Top-Of-Mind Awareness.

According to the concept your company should

come on TOP in mind of a person while

looking for a product/service like yours.

How can you stay in top of some one’s mind if you

have not touched base with them in many many months?

Hence, if  HubSpot can pull out a list of clients

who have not given you any business

in last few months or

whom you have not contacted in a long time.

Won’t it be beneficial to touch base with them?

Once you get the list.

Refer to the last communication you had with them.

Learn more about their current state through their social media.

Process all this information and write emails to them.

What shall go in these emails?

Some content that can be of value to them.

Along side, may be you can also share

some information about your new service offering.

There is a very high possibility that

client might have some work for you.

And might hire you again based on

how well you did on your last deliverable for them.

HubSpot Deals Dashboard helps me chase deals strategically.

There are numerous deals in dashboard with different value and in different stages.

Let me give you one example:

Let’s say there are 10 deals in Proposal Stage,

awaiting response from clients for may be 2 months, 20 days , a week or so.

If I could rightly guess,

based on the psychology of the client,

for which I make notes with another interesting HubSpot feature,

I can easily close these deals.

OR

I can also prioritise,

which deal to chase,

based on its value,

Highest first.

HubSpot helps me bring consistency across my sales team.

Is 80% of revenue coming from 20% of your sales team (Star Sellers) ?

Happens with most of the Companies.

Same was the case with my Company too.

Why this happens?

This happens when sales reps (other than the Star-Sellers)

are not able to handle the sales objection

wisely or just as the Star-Sellers.

Below is surefire way to replicate the charm of your Star-Sellers across your sales team.

It’s a 3-step process:

1. List down all the Sales-Objections. 

2. Document the best possible response for each Sales-Objection, the one that your star sellers give to close the deal.

3. Make it handy for all the members of sales team.

Example:

Sales Objection: “Why should we give this project to you for $2000 while xyz company is ready to do it for $1800?”

Star Seller’s Response: Sharing a case-study which explains cost benefit analysis of hiring YOU.

(Something like if you invest $5000 in training your sales team

and then the team manages to bring

$50000 of additional revenue, it’s absolutely worth it).

Keeping the response Handy: This can be achieved using HubSpot.

Marketing team can go through the phone, chat or email transcripts

between Clients and sales reps.

Pull out a list of all the sales objection.

Then, get insights from star sellers and

prepare the needed material.

Accumulate all this in HubSpot so that

it’s instantly accessible by all the members of the sales team.

Conclusion from the Story.

If Sales Reps diligently put data in HubSpot,

fetching the right data from HubSpot can

help grab tons of business opportunities,

which would otherwise be lost.

The story has definitely brought great insights for the readers.

What do you think?

As I understand,

You wish to increase sales.

Improving your Sales Hiring Strategy shall be a great idea too!

Besides, If you wish to get great business strategies delivered right into your inbox, don’t forget to subscribe!


 

 

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