Is HubSpot Worth the Money?
So you have marketing or sales problems that you are trying to solve. You may be researching which cloud-based software offers the best solution. Could be you are spending thousands of dollars each month not knowing whether your marketing strategy is working because you have no way to track results. Maybe you just need a good CRM for your sales team… as a Kansas City HubSpot Partner, we encounter and help clients with these types of concerns often. If you have considered HubSpot as a solution to your problems, but are asking “Is HubSpot worth the money?”, then you must read this!
Core Problems HubSpot Solves
Many cloud-based software companies today, use “Demand = Value” to determine their pricing structure. The larger the pain point that the software provides a solution for, the more they can charge the user(s) for monthly, quarterly, or annual fees.
So let’s start with the “Value” that Lure Creative found in using HubSpot to solve some of the problems we were seeing our customers struggle with. We desperately needed a portal that would capture ALL leads, not just web forms. We had a call tracking solution, but the website form leads and call leads were not in one place where we could see them, count them, or track these results by lead source (social, organic, paid search, etc.).
HubSpot Provides a Holistic Solution for True Lead Tracking and Results
Google Analytics only measures web traffic and goal conversions, which really only told us that our client “might” have had a lead because somebody used their website form or called them. It could have been a vendor, bot crawler (non-human), current customer, or friend. In our experience, Google Analytics and call tracking are not very reliable when isolated.
Real-Time, Intelligent Lead Data You Can Use to Close Sales
HubSpot provides one single place where not only could we track real conversions, but we can see their name, address, and any other details collected. This allows our sales and marketing teams to be more effective with much better data. We ended up needing less staff to “attract” good prospects, “convert” them into leads through effective landing page offers, and “close” them more easily by aligning our sales process with HubSpot’s automated emails. For our customers, it did the same and gave the business owners the information they needed to know that their marketing dollars were working towards meeting their lead and sales goals.
HubSpot’s CRM Brings Marketing and Sales Teams Together
If you are reading this to find out more about the CRM, I would tell you that the CRM alone is not the way to think about or use HubSpot. In order to get the maximum value out of HubSpot, the sales and marketing teams must both use the HubSpot tools. The CRM users simply get streamlined tracking from a marketing source, clear through to the actual sales dollars attached to that marketing source. With HubSpot, you have real ROI for that marketing source and a turnkey solution that helps fill your sales funnel continuously (with help from your marketing team, of course).
The big advantage is that you know how you attracted the leads, what offers they liked, what marketing medium was effective and which leads turn into the best customers, revenue, and profit. That transparency helps your marketing team understand how to be more efficient with your marketing budget, therefore creating even more of the “right” leads for a lower cost-per-lead. Every business owner I’ve talked to in my decades of marketing consulting was looking for some if not all, of this intelligent data and the results it produces.
Consolidate: Understand the Power of the Tools
For the first eight years of our Kansas City marketing agency, we used ten or more pieces of software to execute one online campaign. We had to use social media platforms, email marketing tools, SEO tools, content management systems, third-party CRM’s, Google Analytics, gravity forms, and the list goes on and on.
HubSpot Saves You Hours or Days Analyzing Data
You can imagine the difficulty we had trying to match up reports from each of these tools in a spreadsheet, and then present it to our customers in a way that became easy-to-read results of a campaign, much less actionable items that would tell you what you should do next.
Here is an infographic we created to show you what it means to consolidate all these cloud-based software into one portal…HubSpot.
How to Know if You’re a Right-Fit Company for HubSpot
We have found that HubSpot isn’t for everyone. We have outlined the criteria below that helps you decide if you should onboard with HubSpot. This is based on our experiences only, and we encourage you to demo the software yourself to make your final decision. Companies, and people, value HubSpot for many different reasons. Here is a breakdown that will help you see if HubSpot is right for your company:
100% Fit “Worth It”
If your company has a real problem that you are trying to solve and that problem is costing you pain, resources, time, or money, then look closely at HubSpot. When done right, with your marketing and sales team fully trained and engaged with HubSpot daily, you will solve your pain and attract more of the right leads, increasing revenue and profits. In order to best determine if you are a 100% fit, your company should fit this criterion…
- Annual revenue of $7 million or higher to withstand the cost with no pressure.
- You have a sales team (5+), marketing staff (3+), and one main point of contact for your certified HubSpot marketing agency.
- Your company needs leads in your sales funnel on a daily or weekly basis to survive.
- Your ownership and management are committed to making it work and solving the problems that are hindering leads and revenue.
- Your company’s staff is digitally savvy and wants to learn new ways to be successful.
Favorite industries for full usage: Product Manufacturing, B2B, Business Services, Transportation, Software/IT Companies and Medical Sales.
80% Fit “Maybe Worth It”
If you only want to use HubSpot for the CRM or just the Inbound Marketing platform, you may totally value what HubSpot does for you. But you probably do not have intentions, within the first year, of using all the tools on the platform. We have our favorite apps within the software, but most of our customers who piecemeal their usage of HubSpot, tend to only value the software for what they use and constantly feel they are overpaying for the tool. Here are companies who usually fit into this category…
- Annual revenue of $3 million or higher (in order to afford the Pro Version of HubSpot).
- You have a sales/support team (3+), marketing staff (1+), and one main point of contact for your certified HubSpot marketing agency.
- Your company needs leads in your sales funnel on a daily or weekly basis to survive.
- Your ownership and management are committed to making it work and solving your problems that are hindering leads and revenue.
- Your company’s staff loves technology and will empower their HubSpot partner to lead them to success using marketing automation and an integrated CRM.
Industries that partially use HubSpot: Large Contractors (HVAC, Lawn Care, etc.) Engineering Firms, Law Firms, Publishers, Elective Health Care, and Recruiters.
60% Fit or Less “Probably Not Worth It”
So you love the marketing messages from HubSpot and you dig one or a few of the onboard tools that HubSpot offers. I gotta tell ya…it takes so much more. If you are only considering HubSpot because your website or marketing agency is recommending it, then watch out. You need to think for yourself and go with your gut instinct.
Like I said, it’s not for everybody, and you do not want buyer’s remorse. It will take some of your time, patience and practice to get good at both inbound marketing and HubSpot, but the results can be worth it if you are willing to do your due diligence. Even if you work with a HubSpot partner agency, you will still need to consider that your time is absolutely necessary to make it a success. Be warned of these signs that you are not a good fit for HubSpot:
- Annual revenue of $1 million or less…you will be too stressed about cost.
- You have no sales team, one salesperson or you are the only salesperson. Wearing so many hats, you do not have the time to respond to your certified HubSpot marketing agency within 24 hours when they need something.
- Your company needs leads throughout the month, but not necessarily daily or weekly.
- You hope that by purchasing HubSpot, it will be self-sufficient and run all of your marketing seamlessly, without any of your involvement. It works best if you contribute and use the software as well.
- Your company’s staff is not down with change, new software, or using anything other than the CRM they currently use. If your team is stuck in their ways and are not excited about onboarding HubSpot to solve their problems…forget it!
Industries that I highly recommend do not use HubSpot: Small-Sized Contractors, General Health Care, Individuals, Startups, or Retail. Oh…and also any business that has a decision maker or sales/marketing teams that are limited by their capability to change, adapt and innovate. Today’s marketing and technology world moves far too fast for those who are still trying to figure out how social media works!
I hope that this article helped you understand who, what, why, when, and where HubSpot is applicable. But most of all…”Is HubSpot Worth the Money?”. At Lure Creative, we love HubSpot when it’s the right fit for our customer, but we really dislike it when a customer goes down the wrong path with HubSpot and ends up with a bad taste in their mouth for the cloud-based software and the agency both. That’s why we recommend a short “discovery” before doing a demo of HubSpot just to make sure nobody wastes their time fishing where there are no fish!