How HubSpot Built A Sales Funnel That Generates $375.6 Million Every Year

In Todays Episode... We are going to be explaining hubspot's entire sales process that generates over 375 million in US dollars every single year. I talked to the VP of sales, I checked out the sales process, jumped on sales calls, I broke everything down, I summarized it, and I'm going to cover everything today in seven steps. Links & Resources If you would like to support the podcast, please rate 5 stars and review on Apple Podcasts. Learn more about Wild Audience at www.wildaudience.com Follow us on instagram for news and updates. If you are generating at least $10,000 per month or beyond and would like a long-term marketing and funnel strategy, please visit Wildaudience.com/Consulting to apply and work with us.   Episode Transcript   00:00 Hey, what's up guys? It's bastian back again in the wild audience studio, and this time I'm going to talk about hubspot's sales process. This sales process generates 375 millions in US dollars every single year. I talked to the VP of sales, I checked out the sales process at, jumped on sales calls, I broke everything down, I summarized it, and I'm going to cover everything today in these seven steps. Here we go, 00:26 wild audience podcast where entrepreneurs talk about how to grow your business with respect based marketing. 00:41 This video is based on an article which I wrote, which is 4,997 words long. It also comes with a podcast episode, so depending on what you prefer, reading, watching or listening, choose your medium, and with that being said, let's jump right into step number one. At the beginning. Of course we need to attract traffic, so now the question is how does hubspot actually do that? The many different ways on how to attract traffic. For hubspot, there's one particular way and that is content marketing. They attract 25 millions of website visitors every single month and that is the result of their content engine, so once you have a content engine like that, of course two pieces to it, number one is attracting the traffic and then piece number two is to turn that traffic into subscribers. All right. How do you do that? Well, if you look at Hubspot, what they do is a combination of article plus lead magnet, meaning they produce hundreds of articles around their topic which is on the marketing every single month, and then they combine this article with a lead magnet. 01:37 The lead magnet gives people the chance to actually sign up with the email address and first name. They also switch around and mix up different lead magnets with different articles just to make sure they have the right combinations of articles and lead magnets to maximize sign up conversion rate. And when I talked to the VP of sales with their magic secret is he said it's quantity and quality. Absolute recommends a minimum of one article per week which would have at least 600 words. This article should rank for your keywords and should be a better piece than what your competitor produced. While wild audience, we take it to the next level. We don't just write 600 word articles. We write articles that are between 2000 to 5,000, 6,000 words. We really want to make sure that if we create an article, it's the best in our industry. 02:19 That being said, if you want to increase your traffic, you need to distribute your articles, plus you need to increase the quantity of articles published, so there's always a balance between quality and quantity, so you drive the traffic to our articles and then we need to get them to sign up. Hubspot is aiming for a four to 10 percent lead sign up conversion rate on their blog posts at wild audience, we aim for an average of seven plus and you can get to 10 plus if you create a unique lead magnet for each and every article. If someone wants to sign up for the lead magnet, they need to sign up. Hubspot uses a technique that is called progressive profiling, meaning at the beginning they just going to ask for one or two things, maybe the first name and email address, and then later on throughout the customer journey, they're gonna, ask more questions and add information in theater into the person's data profile. 03:03 So that was that one. Driving traffic, getting them to sign up. That's it. Let's talk about step two. Here we go. So what do we do with the people who are coming in will hop spot approaches, sales not as an art, but as science. They look at the numbers in order to figure out who to reach out to. They actually created something that is called key engagement indicators. So what is a key engagement indicated at? Well, a key engagement indicator and the most important engagement steps prospect needs to do in order to prove that they're ready for your product. Of course, every key engagement indicator is different for every business. How do you know what your key engagement indicators are? If someone joins an educational webinar or a sales webinar or signs up for a discovery call or use the free tool or maybe reads three blog posts or checks, are you still his page? 03:46 These are all specific key engagement indicators which you can use in order to identify your best type of people. Guess what hubspot tries to do with all new trial signups of their software. They make it very obvious that they can invite team members because they know if someone does, they closed up team or that company for 25 percent close rate that sample, so now you know what your teen engagement indicators are. It's time to start the conversation and reach out. Here we go. Step number three. The goal of course is to get people on the phone conversation and close them, but since hops would get millions and millions of website visitors every single month, it's just too many people in their system to call all of them. They had to come up with a way to figure out who their highest quality people are, but let me walk you through how hubspot does it. 04:28 Weird, wild orients, used the same system and you can use that too, so at the beginning there is a prospect which are basically your website visitors to check out your website and then there are leads, people who check out your website and then sign up with their email address. Right now we have a lead. Now the next step is an mql or marketing qualified lead that someone who may be reading forward from articles for science for three different lead magnets for watches, an educational webinar that someone who is truly engaged with your marketing content. Next step is to sql sales qualified lead. That's someone who is an mql and then maybe schedule a discovery call with one of ucl sales reps and then we have an opportunity to someone who had a discovery call and then is scheduled for a demo. And then of course there's the customer which is a victory for you and your business and everyone in this world. 05:11 Cool. So how do we close them? Step Four. So once someone is sql, they identify themselves as someone who is ready to be sold to. And that's what step number four is all about. We don't want to sell them per se right now, but we want to initiate the conversation. There are two ways and how to do that. Either they initiate a conversation with you or you reach out to someone who is an sql. These are the two ways that this governance he reaches out to you, that is called inbound sales, meaning they use maybe the live chat functionality on your website. They submit a form to schedule a call to respond to an email. They go through an application, they initiate the conversation and you are just reacting and responding to the conversation. And then the second way is to reach out to your sql. 05:51 So once someone identified himself or herself as an sql, sent them an email or call them, in hubspot's case, they never call people. They always want their leads to reach out to them. So in order to save time, they're going to trigger automated emails to sqls to get people to schedule a call with the sales reps. and hubspot is a huge company. They have a particular person. That team whose only goal is to schedule conversations, they're not even going to have that conversation. They just want to schedule the conversation and then get handed over to a sales rep. of course, if your business a little bit smaller, just like mine, you maybe have one or two people handling the whole conversation, right? Maybe someone who does a discovery call and then maybe it's someone who does the closing call or if you're very small, you have one person dealing with the whole process. 06:32 For me, of course, being a curious mind, I wanted to test hubspot's system, so what did it is I want to hubspot's website, did a few things, read a few articles, and he identified myself as an sql and the leader after a Madeira key engagement indicator. Basically I received an email from a sales rep and the ema pushed me to jump on a call with one of their sales reps. of course not every time you're going to send an email, the person will reply and actually schedule a call. If they don't, don't worry. Guess what? You're gonna do you're gonna follow up, follow up. Three days later, follow up a week later, every two weeks, once a month, keep on following up, and if they don't respond after a certain time, pushed him back from an sql all the way back to an mql and then let them identify themselves again as an sql lead on. 07:14 Then of course, some of your leads will be amazing clients or customers to work with. What hubspot does is they go to this company's website, investigate their website and their problems, record a video, and to take five to 10 minutes, do that, and then in the video they actually going to talk about their problems of Seo, lead magnet problems, traffic problems, and so on. This is called the sales hook. To get people on a phone, you want to do the same. We'll do the same for your best types of clients you want to do, do you of course cannot do it for everyone because it's a tactic that doesn't scale, but for the best fish it works really well. So let's assume the goal is achieved. Someone's schedule a call with you and your company. What does hubspot do next step? Well, the goal of that conversation is not to sell per se, it's a get to know each other conversation. 07:55 This initial conversation is all about the why. You want to figure out why someone's scheduled a call with you and that's what hubspot does. A swap. The reps first sentence was, listen, thanks so much for scheduling a call with me today. I'd love to learn why you're interested in hubspot. How can I help you today? And then you want to shut up, let the lead do the talking, and what are you going to do? There is you are going to make that lead internalized how it would be if they would use your opportunity as a solution to their problem. Super, super smart. That's what hubspot did with me. You really want to send the companies or person's situation, their problems, their pain points, their goals and desires. You want to figure out if one of your products or services would be an actual solution to their problem. 08:35 And then what hub spot did in the very smart ways, they listened to my pains and problems, and then the talked about other clients and customers which already used hubspot, which initially had the same types of problems that of course gives them and the rep authority and social proof. That was super awesome and very smart. And then at the end of the discovery call, you want to make sure that the next steps are clear and disgust. Tell them, when are you going to reach out or tell them, hey, do you have your calendar open right now? Let's schedule our next call. Or are you going to tell them something like, Hey, I'm going to follow up with an ema with three different resources for you to check out and then I'm going to touch base with you next Thursday. So you want to make sure that the next steps are clear and easy to understand. 09:13 And then lastly, step number six is the demo and sales call, right? Someone went through the discovery call, now it's time to close. Of course we want to demo the product. If software company, if you have a service business, you want to explain exactly how your service will solve your potential client's problems and remember disrupting easy step because of all the hard work which was done before, you as a salesperson or someone who demos the product or service. No, exactly that. Your solution that your product, that your service is the perfect fit for the leads, problems, sort of sales conversations should be easy for you, especially in your mind, and if you think that your solution is not the perfect fit to the problem, tell them and sent them to the right direction. Don't sell something that doesn't solve the person's problem. You would just have German and problems down the line and remember, nothing kills closes more than letting too much time passed by. 10:04 So at the end of the conversation, make sure that next steps are clear. Tell them something like so based on our conversation, it seems like this is a great fit. Can we get you started the Monday and other ways to validate the presentation and then of course rehash the pain points. Go over the problems again and positioned your opportunity as a solution to their problem. And then lastly, you want to make them understand what their pain costs. So this is also known as cost of inaction, right? So you say something like, it seems like your problem costs you 20,000 every single year. Our parties is only five years, so it seems like this is a good business decision. That's it. Your sale is now either lost or won. And then the last step, step number seven is all about testing, evaluating and iterating. And for that you need data. 10:45 I personally love metrics. I'm not so sure about you, but I love them and that's why we created a really cool google sheet which basically summarizes 43 metrics, hubspot users in their business to evaluate, test and iterate. So go there, check it out there somewhere Lik I'm sure you can find it. The reason why I'm putting it into a separate link is because it's 43 metrics with descriptions, how to calculate them names and so on. These are the metrics hubspot users and it's just too much to cover right now and right here, so go and try find that link. If you don't find them, go to [inaudible] dot com slash articles and look for the hubspot article and in there you will definitely find a huge image telling you all about the metrics. So go and check it out and download it. And with that I want to end this video. Make sure to smash that like button. Hit subscribe if you want, and I'll see you guys in the next video. Thank you so much for listening to this episode today and subscribing to wild audience of fem. I want to spend the next 45 seconds so talk about something that was really important to me and could potentially be the change you need in your business today. So listen up our product that allows us to create the most value in your business called relationship 11:54 funnel accelerator. Relationship funnel accelerator is a growth accelerator that helps you implement the following into your business in 90 days. First of all, you will have clarity through a long term marketing and funnel strategy. We'd have smart and behavior based marketing and follow automations implemented and running. Organic and PPC lead generation systems are running for you. Swab. An automated sales system is hooked up and advance. Our eye. Tracking is running a tracking all behavior of your people. If this is something you need help with in your business today, you can go to wildaudience.com/consulting and apply to work with us. We work best with online companies that sell digital products for high ticket services and programs. Our sweet spot is with companies that generate at least $10,000 per month or beyond. If this sounds like you go to Wildaudience.com/Consulting and apply to work with us. Thanks so much guys, and I talk to you in the next episode. Peace out.