Marketers that are using HubSpot Marketing Hub on a daily basis are well aware of how it fits into their current operations and the value it brings to their team. What they may not be aware of are the other four hubs; Sales, Service, CMS, and Operations, and what each of them can unlock for the company as a whole.
In this article, we are going to focus on two of these Hubs and how they can be used together to maximize your customer lifetime value:
- Sales Hub: A powerful CRM that helps your sales team perform more efficiently while holding all details in one place.
- Service Hub: Allows you to provide excellent customer service to your clients post-sale completion.
Strategies and ‘Must Haves’ to Maximize Lifetime Value
Tools alone cannot add value unless your team actually uses them to their fullest capacity. Getting your sales and service teams to use all (or most) of the tools available in the Sales and Service Hubs will be the first step to maximizing lifetime value. The proof is in the result – after having HubSpot for one year, customers record 92% more closed-won deals on average.
If you’ve ever struggled with marketing and sales misalignment and siloed departments, combining these tools will create visibility and transparency between both teams. Tools in Sales Hub, such as notes, details, values, and current status, help keep your deals organized.
A few of these other helpful tools include:
So what about after the deal closes? That's where Service Hub comes in. This tool will help you keep a positive and productive relationship with your new and seasoned customers by leveraging tools like surveys, customer portals, and a knowledge base.
Marketing Misconceptions About Creating Lifetime Value
One misconception that marketers have when it comes to creating lifetime value is that you have plenty of time to follow up on a lead once it comes through. This is incorrect. The Lead Management Study saw a whopping 400% decrease in odds of qualifying leads when reps waited 10 minutes or more to follow up.
We operate in a very competitive market, and a lead does not always mean that the deal is secured. With access to infinite information straight from mobile devices, it is highly encouraged to follow up within 24 hours or less so you don’t get passed over for a company willing to give them a faster response and timeline.
Another misconception is that once the sale is closed, it is finished. This is also incorrect. By this point, your account executive has promised your new customer that your solution is able to solve their problem and has been communicating with them consistently. There needs to be a smooth transition from sales to service and an open line of communication between the two parties. You want to keep your customers happy past the day they sign their contract so they don’t churn, which would cut your overall lifetime value short. Service Hub can help in this area with surveys, knowledge base, and now a Customer Portal.
HubSpot makes it easier to maximize your business’ lifetime value and helps accomplish your goals before and after a deal closes. Being able to respond quickly and stay organized will accelerate growth and help hit your deal goals. You’ll see this in both the pre-client and post-client parts of the buyer-to-customer journey.
During the pre-client stage, Sales Hub will help record lead statuses of contacts as you follow up with them, and will assist in faster performance with pre-set playbooks and snippets. During the post-client stage, Service Hub will help create a unique Customer Portal to keep your clients in the know and provide them with all the necessary details for your partnership.
So, what are the actual features?
In Sales Hub:
- Meetings
- Sequences
- Email Tracking
- Conversation Bots
- Automation
In Service Hub:
- Ticketing
- Surveys
- Knowledge Base
- Automation
Separately, these tools can help you perform your job more efficiently, but together they can accelerate you towards maximizing lifetime value. We highly recommend taking the time to educate yourself on the different tools included in your Hub or working with an agency to help train your team on tools and processes that will help increase your ROI and support in hitting your business goals.
It’s also crucial to stop and analyze your sales team’s performance so you can continue to optimize processes and work as efficiently as possible. Analyze the sequences they are using to see which ones are performing best to enable your sales team to succeed in closing more deals. Review their performance with tools like custom reporting that help you learn from and optimize the process.
Knowing of and leveraging tools like Sales and Service Hub alongside your Marketing Hub will ensure HubSpot operates like the powerhouse it was made to be. This article covered two of the five HubSpot Hubs and showed just how important these two are when working in tangent, and how they ultimately lead to maximizing long term value. **Stay tuned to hear about CMS and Operations Hub?**
New Breed is a certified Hubspot partner agency that provides consulting and training on these Hubs. Learn more.
