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Hubspot Updates – Fall 2018 (Post Inbound 2018)

Short & sweet.. September was big for Hubspot (and I’m really excited about it).

What happened?

They had their annual Inbound conference and announced a bunch of new features.

Why the new features?

For years Hubspot positioned themselves as the go-to platform for small businesses. Once businesses got big enough, they moved to a Salesforce/Marketo combo.

Hubspot is going after bigger markets.

It’s really annoying having to do all the heavy lifting to get new clients just to have them leave for Salesforce (queue evil laugh from Marc Benioff rubbing his hands together).

New Feature: Deal-Based & Company-Based Workflows

Bring Deals… I mean… Renewals to life. Allow them to shift and change over time automatically.
Build a renewals pipeline.

Automatically create new Renewal Deals.

Automatically change the Deal Stage of a Renewal as time goes on.

When reaching a new Deal Stage, alert your Customer Success team (check-ins, account review, schedule meetings, renew).

New Feature: Calculated Fields & Multi-Currency Support

Holy sh*t. It’s about time.

Calculate and report on days-to-close (close date – date first seen), averages, and more. Through some careful configurations, I’m sure it’s possible to implement the stages mentioned in “Crossing the Chasm”.

Multi-Currency support is finally here. I can’t believe it took them this long. This makes deal amount accuracy much more accurate. I can finally start to build and integrate Hubspot Deals with our accounting systems.

Imagine when a deal closes, your accounts receivable update. Amazing.

PS: Doing this requires some careful input from salespeople. You can create a sign-off process for deals to avoid moments where the sales rep “has a great feeling about it” and prematurely closes a deal.

Wrap-Up

There’s a lot more features that were released. These are the ones I’m most excited about. The links are below if you want to check those out.

LINKS TO MORE HUBSPOT STUFF

  • Calculated Fields:
    https://knowledge.hubspot.com/articles/kcs_article/settings/create-calculation-properties
  • Hubspot Product Updates:
    https://www.hubspot.com/product-updates

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