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You’re convinced that HubSpot can help you make a positive impact in your role, but senior leadership isn’t convinced that it will generate a positive ROI. So, how can you convince your CEO or senior leadership that HubSpot is a good investment?
You’re the marketer. You get it. You’re well versed on the buyer’s journey and how it required multiple touchpoints. You understand why and how HubSpot can benefit the company you work for. You can see the bigger picture.
But not everyone thinks like you or to be fair, comes with the background knowledge to understand the impact of things like marketing automation. In order to help others see things from your point of view, you need to speak in their language.
In this article, we reveal why HubSpot is a good investment, but we speak in the same language as the CEO. All you have to do is go and take the points from this article and convey them to your CEO or senior leadership in a similar fashion.
The main points we’ll cover (which you should convey to your CEO) include:
What is HubSpot?
HubSpot is an all-in-one Marketing, Sales and CRM powerhouse for your organisation’s activities. From an outcomes point of view, it helps organisations:
- Increase the bottom line
- Take advantage of opportunities more effectively and quickly
- Close more deals faster
- Prospect more effectively
- Manage deals more effectively
- Increase company growth through the union of marketing and sales
HubSpot has various functionalities which make it perfect for organisations looking to utilise their resources more effectively for growth. Some of these functionalities can be seen below.
Automated Marketing Helps Manage Deals More Effectively
Automated marketing based on user behaviour can help sales reps manage deals more effectively and thus close more often through effective nurturing.
Examples of automated marketing includes:
- Sending cleverly timed emails based on a prospects actions / behaviours
- Sending cleverly timed SMS messages based on a prospects actions / behaviours
An example of a cleverly timed email: say an inactive prospect visits your pricing page out of the blue after ghosting your sales team. HubSpot could send the prospect and/or your sales team an email.
Not only does this help nurture prospects down the buyer journey to close more deals, but it also helps sales reps better manage their deals. Having automated marketing like this in place takes some of the mundane work off the hands of the sales rep, saving them time so that they can spend more of their time on selling.
This ends up having a snowball effect on the business, leading to more sales, increased growth, and a nicer looking bottom line.
Single Customer View Helps Marketers & Sales Prove a Return on Investment
HubSpot touches almost everything sales and marketing, including but not limited to:
- Email marketing
- Landing page development
- Social media publishing
- Blogging
- Reporting attribution to report on ROI of marketing activities
- Diverse range of highly effective sales tools i.e. CRM, call-recording, task reminders, calendar syncing
By combining all of these aspects, it gives marketers and salespeople the ability to do everything they need to from a single portal. Because every marketing and sales activity is captured in the one place, it allows marketers to report on the ROI of these marketing and sales activities, giving the CEO or senior leadership a clear indication of how specific efforts are impacting the bottom line.
We call this ‘Single Customer View’ and this knowledge can help provide direction on where investment should or shouldn’t be directed based on the return on investment from different activities.
With the data of all these touchpoints, HubSpot helps marketers and salespeople create and report on ROI for CEOs and senior leadership.
Benefits of HubSpot
While reviewing ‘What is HubSpot’, we already covered some of the benefits of using HubSpot. In particular, the benefits of using HubSpot include:
- Provides a clear indication of ROI
- Helps sales reps close more deals, impacting the bottom line
- Saves costs on other tools
- Helps sales reps spend more time on sales and less time on admin work
- Gives CEOs and senior leadership full visibility over their sales and marketing activities
In summary, as our CEO Moby Siddique says: Put all the bells and whistles aside, HubSpot really does only two things really well. Bubble the warmest leads to the top and move buyers along the stages of your buyer’s journey.
Provides a Clear Indication of ROI
Let me ask you two questions; can you tell me what specific pieces of content is closing deals in your business? Would you want to invest more in the content that closes deals and moves the needle?
HubSpot allows marketers to track exactly which pieces of content led to deals closed, demonstrating ROI on marketing activities. On top of this, it allows the CEO to see which sales reps are closing deals.
With this sort of visibility comes the knowledge to invest in the activities, resources and people that are actually impacting the bottom line.
For example, RedPandas discovered a webinar which produced over $30,000 in revenue. What do you think we did? We produced more webinars and it helped us generate more revenue. When you have a clear indication of ROI, it allows you to have confidence in investing in the things which actually impact growth, and HubSpot can help you do this.
Helps Sales Reps Close More Deals, Impacting the Bottom Line
HubSpot helps sales reps differentiate between which leads are warm and ready to convert and which are not, allowing them to more effectively utilise their time by focusing on the leads that are most relevant.
It does this by providing them with information such as:
- What specific website pages a prospect has visited
- How many website pages a prospect visited
- When the prospect visited these pages
- How the prospect interacted with these pages
This also has the added benefit of shortening the sales cycle as sales reps can use the above mentioned information to utilise sales techniques like assignment selling. An example of this in action is explained by one of the sales reps working here at RedPandas:
“We’ll have a lead, we’ll have a good conversation with them, but they’re not interested. But in six weeks or a month I randomly get a ping that this person has opened this email and read a specific article on our website – why would they do that? I haven’t spoken to them in six weeks…they’re interested, or their CEO has asked about us. So I’ll call them and follow up, and this makes all the difference in closing the deal”.
Jonico, Sales Rep at RedPandas
In this way, HubSpot helps sales reps close more deals and positively impacts the growth of the company.
Saves Costs on Other Tools
HubSpot is not your only marketing automation option. There are a bunch of HubSpot alternatives out there that we talk about openly at RedPandas. Over the past 10 years we’ve worked with and on every major marketing automation tool out there and although there are alternatives that quite frankly, almost do exactly what HubSpot does, they are incredibly difficult to use and technical.
On top of this, in order to get the same results that you can from HubSpot, you’d need to invest in more than one tool because there isn’t really anything on the market that unifies marketing, sales and CRM like HubSpot does. By using HubSpot’s technology stack, you end up saving costs on all of these other tools.
Helps Sales Reps Spend More Time on Sales & Less Time on Admin Work
HubSpot provides a versatile range of sales automation tools, including but not limited to email and SMS automation capabilities. Sales reps generally spend their time on selling, and then on the admin work around selling (following up with clients, sending emails, SMS messages and so on).
Because HubSpot automates most of these admin tasks, it saves the sales rep significant amounts of time, allowing them to spend more of their time on selling and less of their time on admin work.
From a resource perspective, this is beneficial because the value a rep can produce in one hour grows significantly BECAUSE more of their time is spent on revenue generating activities. This ultimately impacts the bottom line.
Gives CEOs & Senior Leadership Full Visibility Over Their Sales & Marketing Activities
Having full visibility means that when we gain any information from a potential customer, such as their name and email, we should be able to see EVERYTHING related to the interactions between them and our business.
This means we should:
- Know where they came from and how they found us
- Be aware of exactly what pieces of content they have consumed from us and which pieces of content led to revenue
- Be aware of the level of engagement any single prospect is having with our content through having visibility around metrics such as bounce rate
- Know what emails our sales team has sent to prospects and who sent those emails
- Have clarity on how each prospect is interacting with emails (i.e. are they opening the email, are they clicking on links in the email)
- Know whether or not our sales team is trying to make contact with the prospect, what method of communication they’re using, whether contact has been made, and how often.
- Know exactly what we did when we communicated with prospects. For example, did we call them, and if so, what did we call them about? What was said, and how did the call go?
When we have full visibility, we have control over variables that can impact revenue. It becomes mind-blowingly powerful, because we can see which specific actions led to success, and we can double down on those. This means that we can more effectively spend our resources on the things that are going to produce the highest return on ad spend.
On top of this, full visibility allows us to gain an understanding of the performance of our sales team, which helps us improve sales performance over time. Full visibility means more control over the bottom line.
Is HubSpot Worth the Cost?
First, let’s review the cost of the HubSpot Sales and HubSpot Marketing suite. \
HubSpot Sales
HubSpot Marketing
Is it worth it?
Can you tell me what content is closing deals in your business? If you could tell me this, would you want to invest more in the content that closes deals and impacts the bottom line?
Do you have full visibility over how much your sales reps are closing and how much is in their pipeline to close?
Do you have one place to go to see all the above information in a simple and concise dashboard?
If you don’t have these things, then HubSpot is most likely worth the cost for your company. However, in saying that, one more thing you’re going to want to consider is whether or not HubSpot can produce a positive ROI for the company.
If HubSpot is used correctly, it should most definitely produce a positive ROI and result in many benefits for your company over time, as already mentioned in this article. However, if you’re still unsure about whether HubSpot will be worth it for you, then you can use the free HubSpot ROI Calculator to determine whether HubSpot will be worth it for your company.
If you do invest in HubSpot, you should review it every six months and make sure that the return is worth it for you. You can never guarantee that HubSpot will result in growth in your sales. After all, it’s just a tool – you need a good strategy, good training, and great guidance in order to use the tool to its full potential.
“Too often we see people buy HubSpot, get some half-baked onboarding / implementation, and then they bugger off and never truly see or unlock the value of HubSpot. For these CEOs they’re going to have a bad taste of HubSpot, so it’s important that they’re onboarded properly”.
Tasha Dal Blanco, HubSpot Expert at RedPandas
To sum up, HubSpot is worth it for your business if you don’t have full visibility over its marketing and sales activities and if you can produce a positive ROI from using the tool, which can be achieved if you’re onboarded with HubSpot effectively.
