Use Hubspot CRM Inbound Sales to Drive Impressive Sales Results
Successful companies today are using the Hubspot Inbound Marketing methodology to generate torrents of highly qualified sales-ready leads.
Uber successful companies are using Customer Relationship Management software from Hubspot to implement Inbound Sales, a sales methodology that fully leverages the power of digital technologies to close deals.
Hubspot's CRM has been purpose designed from the ground up to help sales people sell, with little to zero data entry on the part of the sales person.
What is Customer Relationship Management System
There are a variety of Customer Relationship Management or CRM systems on the market, and just as many definitions and approaches as to what CRM is.
But if we break it down to the type of business, i.e., B2C or B2B, which means Business to Consumer or Business to Business, then the required functionality becomes a little clearer:
Within this space, you find systems for managing sales directly, such as selling services, to handling customer complaints, to providing field service.
Given the extreme competitiveness of this market, B2B businesses need systems that help them respond to every opportunity quickly, ideally, in under 5 minutes.
The Critical Success Factor to a successful CRM system is that it is both easy to use and quickly learned. If in the past, a CRM system came as an add-on to an ERP system, and was extremely demanding in terms of data entry, today, it is widely recognized that the system must do most of the data entry on an automatic basis.
It must also provide data to the sales person from many sources, as it is needed, from multiple sources, including all marketing interactions, all calls that have taken place and from external data sources, such as LinkedIN and many others.
Within this context, you find 2 major approaches to sales, either contact level or Account Based Management (ABM). ABM is also known as Targeted Account Selling (TAS) and means you recognize that there are many contacts both within the target company and as well, influencers from external to the company but who, nevertheless, must be included in your Sales Execution Strategy.
In a Contact based approach, you are working at the person-to-person level, and though it is relationship based (and there is always a relationship of some sort), you are focused on this one person.
In either approach, there are an almost unlimited number of 'Sales Strategies', such as the Challenger Sales Model or Consultative Sales model.
Regardless of the approach being taken, the CRM system must support the model, and help the sales team achieve a high level of sales productivity. Productivity, of course, at the very top level, means hitting a revenue target. But that is an outcome level metric. To hit a revenue target, there is always series of actions that must take place in order to generate the sales.
These usually include a number of website interactions, product demonstrations, sales calls, business cases and other activities. All of these can usually be thought of as a Sales Funnel and the CRM system can help you measure how well you are doing at each stage of the funnel.
A Sales Funnel As Measured by Hubspot CRM and Sales
The B2C market, much like the B2B market, has a Sales Funnel as well, and often requires many of the same steps. However, it is very often for smaller amounts of money and thus, has to be designed differently.
Consumers are expecting an Amazon experience in this day and age, and your CRM system has to work flawlessly. This means that in many cases, you've got an online sales system, and CRM is being used to keep the customer happy, by for instance, responding to complaints or explaining how something about your product works.
It is also very common in this market space to have a series of upsells embedded into your sales process. As well, it is absolutely critical that within this space, you are actively listening to your customers across social media channels and doing whatever is necessary to keep your customers happy and communicating to the world about their experience with your product. With an integrated marketing and sales system, such as Hubspot and Salesforce, you monitor multiple channels for any mention of your product or service.
For Amazon sellers, you live and die by customer testimonials, and thus need to solicit those testimonials and as well, work actively to resolve any issues that may arise to keep them positive. When you integrate your Amazon Sales Channel with your Shopify Store and Hubspot CRM, you have a powerful mechanism to make this happen.
The Biggest Challenges with Enterprise Resource Planning
As experts with SAP ERP, we know the critical importance of having an integrated system. It is what makes SAP such a strong system. However, we almost always find that companies will have many more systems than just SAP, and this often includes other CRM systems, such as Salesforce or Hubspot, to name but 2 common players.
The biggest challenge you find in these environments come down to process management and data quality. Data quality standards, in particular, means that any CRM system must speak SAPanese perfectly, or there will be no data integration.
SAP is also very demanding in terms of process design, whereas, most Sales people, tend to need a lot more flexibility in their processes. This usually means that SAP CRM is used after the fact to record what happened, versus being the system that makes the sales process happen. Thus, for many smaller enterpsies, a flexible approach is required and that means integrating Hubspot CRM to SAP. That is easily done today with existing cloud integration system.
Previously known as Sidekick, this product actually has many functions, including notifying you when someone has opened your email, or is on your site. Fully integrated into Hubspot Marketing and Sales, as well as Google Mail and Microsoft 365, it also can automatically create contacts in your system from emails you send.
There is also a mobile version of the tool, as there is for all the Hubspot tools, which is critical given that 80% of the time people are using the system on a mobile
While the Hubspot marketing platform comes with a Campaign Management function, as part of the platform, the CRM tool also comes with what a system called sequences, which allows the sales person to execute a one-to-one campaign.
Much the same as the marketing campaign tool allows you to plan out a series of activities to acquire contacts and drive them through your marketing funnel, the CRM Sequences tool allows you to preplan a series of emails and other tasks and activities to pull people through your sales funnel, and measure every step of the process.
The Hubspot CRM system is fully integrated with the Hubspot Marketing system. You essentially just turn it on versus implementing it.
It can also be integrated into numerous other 3rd party systems, such as Pandadoc. There are also a variety of Hubspot APIs, such as the Deals API, that allow to do a number of functions needed to keep your deals up to date in certain scenarios.