HubSpot is a cloud-based CRM offering various features to help businesses grow and scale. Some of the key benefits of using HubSpot for a PLG startup include:
In PLG the primary distinctions of a conservative B2B model are the number of users and the proportion of free customers. Every B2B company uses CRM can help you track and manage interactions with your customers and gain insights into their behavior and preferences.
However, for PLG SaaS, the realms of CRM, product analytics, and CDP are converging.
This blog post is divided into two sections
Lets get started
There are four ways you can get the data into the HubSpot:
Storing the event is a bit more complicated.
Don’t overwhelm the the CRM with the behavioral events here. The main job of a Revenue Operations team is to provide useful data to the selling team in order to keep the selling process going.
We recommend starting with the second option, here’s the nice template to start in Make.
Note: We haven’t yet found the tool to match the Stripe payment status with custom deals stages in HubSpot (more on this later). However, after many years a new Stripe integration beta product that has been launched.
There are two approaches when syncing the contact entity: syncing all application users or only qualified accounts. Both approaches are acceptable, depending on the internal operational setup.
For PLG products, it’s vital to enrich the static product data with product behavior, ICP (ideal customer profile) data (company size, segment, etc.), and marketing data.
Hubspot's superpower is its ability to create company entities based on contact input. Hubspot creates the Company entity for every contact with a non-public email account (such as Gmail, Yahoo, Baidu, Yandex, MSN, etc.). Another advantage of using Hubspot is that it comes equipped with an enrichment engine, which allows you to create the entity using the domain, and Hubspot will take care of the rest. You can use Clearbit or Apollo to automate your workflow and increase efficiency. The minimal necessary fields include Company Name, website, and country.
Within HubSpot there are two types of list:
Limits: 5 lists (Free), 50 lists (Starter), 1200 lists (Professional), and 2000 lists (Enterprise) Add-on: $200/month for 100 active lists
Limits: 25 lists (Free), 1000 lists (Starter), 1200 lists (Professional), and 2000 lists (Enterprise) Add-on: $200/month for 100 static lists
These lists can be created based on Contacts Database (mentioned above), Companies Database, and Deals Database.
The next step after you have created lists is to filter these lists.
Filter groups in HubSpot allows users to segment their contacts, companies, or deals, more granularly using a combination of filters. Each filter group can contain multiple filters, and you can have multiple filter groups in a single list or view. Works similar to Humanic, following the AND/OR ruling.
Lists dashboard has a flat view, with different column of records. No concept of hierarchy.
With the “Used In” column, you can view where a list has been used. But the challenge over here is that you can only view the current running assets to which that list is part of. No historical record is directly available.
To define the meaning of a contract lifecycle stage, essential to define the trigger or signal (taking action on a particular page, requesting a demo, or starting a trial and taking specific product actions). Each condition likely touches product data, so the GTM team aligns with the data team to ensure the signals are present.
In such cases, the GTM team should focus on the Product-Qualified Accounts and try to nurture the person responsible for purchasing the product (read as Head of Department in the graph above). And with that definition, we can better define Product-Qualified Leads (PQLs) as individual users/workspaces within an ICP account that signal buying intent and authority. You can have a PQA with no identified PQLs but you’ll need to join the dots by leaning on exploratory sales exploration to find a buyer within the account. It’s a good practice to classify the accounts and leads based on which goal they qualify for, so you can have the Expansion PQA, Churned PQA, Enterprise PQA or Mid-market PQA clients.
Some possible combinations have been plotted, but you may only need to select a few. The triggers should support your plans and experiments, transitioning users to more advanced use cases over time — from team to enterprise.
These stages can be reflected at the Contact Lead Stage level along with sales-led lifecycle stages.
However when creating sales and marketing communications, we still need to address the individual user. I
Since the product is sold via subscription, syncing CRM with Stripe is essential. HubSpot suggests analyzing and tracking the projected value of a deal amount over time with the revenue analytics report. However, the Deals Hubspot is designed with a sales-led approach in mind, while for the self-service business, you're likely dealing with a recurring payments.
There are two current approaches:
2. Create the Deal entity for the subscription and update the deal properties based on the subscription lifecycle updates. This includes adjusting the deal stages, amount, the parameters such as team size and retention, etc. The downside is that it may be more challenging to determine the MRR for a specific month, as the closure date for each subscription update may need to be adjusted.
Note: You can add the additional entity Subscription in Hubspot and associate with Contact. Source
PQA is ultimately about timing and knowing when sales should reach out based on a combination of product signals, including
Starting with a regression analysis of past monetization events is a common practice. Still, it requires a lot of iteration to reach a point of high confidence and repeatability, which can be time-consuming. I feel that at the beginning, you can rely on heuristics derived from customer research interviews.
HubSpot provides a convenient post to create the scorings for the leads, but it can be utilized to change the user life cycle based on the product behavior data we have piped into HubSpot. Check this article for the details.
Joseph Boston, VP Product, EatApp emphasized the significance of understanding user needs through "product-usage data" or "real-time funnel events" in today's competitive business landscape.
While tools like Mixpanel and Intercom are commonly used to create user cohorts and integrate them into CRMs, the resulting convoluted workflow with numerous outcomes doesn't make sense. A streamlined approach to visualization is necessary to gain actionable insights efficiently.
Instead of relying solely on analysts, Joseph stressed the importance of equipping product, sales, and customer success teams with the necessary tools to access and analyze data independently. Breaking down silos and fostering collaboration among teams not only improves communication but also expedites decision-making processes.
Joseph proposed a novel idea of granting sales teams direct access to product-usage data, enabling them to create personalized dashboards and sequences. By becoming "Sales Marketers," sales professionals can gain a deeper understanding of customer problems, collect feedback, and identify pain points. This empowers them to act as "spies" for the product team, collaborating closely and alleviating the burden on product managers to gather all customer feedback. Consequently, product managers can focus on strategic planning and development.
While Product-Led Growth (PLG) companies integrate product-usage data into CRMs like HubSpot and Salesforce, they often face a challenge in lacking historical data about a user's transition from one stage to another. Bridging this data gap is crucial for a comprehensive understanding of user behavior and effective decision-making.