If you’re a business considering (or currently investing) in HubSpot, there’s likely one question on your mind:
“Is this actually worth it?”
HubSpot is incredibly powerful, but expensive, and the price is only going up (if you’re a long term user, you’ve probably already noticed!). If you’re not seeing value, then it’s time to consider whether it’s the right CRM for you.
In this blog, we’ll run through whether HubSpot is (objectively) worth the price. Is it profitable, what is businesses is it right for, and how you can make more profit from your CRM.
Is HubSpot profitable? (An objective view)
There’s no denying that HubSpot comes with a not-insignificant price tag, but this cost is justified by the value it brings. For businesses that are scaling, expanding their contact lists, or looking to build sophisticated marketing campaigns, HubSpot offer an all-in-one platform with excellent customisation options.
On the flip side, for smaller companies or those without complex marketing needs, HubSpot’s pricing may seem excessive for what they actually use.
So: is HubSpot profitable?
Absolutely, if it’s used correctly. It’s important to evaluate whether your business can fully leverage the platform’s capabilities or whether a simpler CRM might serve your needs more effectively. Not only this, but HubSpot is only profitable when you have buy-in from the teams using it. Successful onboarding and training is key if you want your CRM to deliver tangible profits.
What makes HubSpot stand out?
Now that we’ve established that HubSpot can be profitable (in the right circumstances), it’s time to talk through some of the reasons why businesses choose to invest in HubSpot.
Advanced and customisable features
HubSpot offer a comprehensive suite of tools, from marketing automation to sales enablement, all designed to streamline your business processes. Its key selling point is the platform’s adaptability. Whether you’re creating simple landing pages or building intricate workflows, HubSpot allows for a great deal of customisation.
For businesses requiring complex builds (such as custom API integrations or highly personalised campaigns), HubSpot’s extensive toolkit offers flexibility. This means businesses with unique operational needs can tailor the platform to suit their workflows.
However, for smaller companies that may not require such advanced features, these tools are often underutilised, adding to the overall cost without delivering immediate value.
The beauty of HubSpot is that you can mould it to meet your exact needs; you get out of it 10x what you put into it, it just takes some time to get to grips with the platform.
It’s integral to business success
CRM software is becoming indispensable, with 73% of businesses expected to use CRM software in 2024.
HubSpot have positioned themselves as one of the leading CRM platforms (their enormous marketing budget means that you’ve likely seen their ads more than a few times!).
For companies looking to scale or those operating in competitive industries, the cost of not having a powerful CRM could be far higher than the price of a HubSpot subscription. If your business is still organised through spreadsheets, emails and Word docs, then it’s almost certainly time for a change.
HubSpot and other CRMs enable better data management, personalised marketing efforts, and more efficient sales pipelines.
Not sure which CRM is right for you? Don’t worry, we’re here to help. Get in touch with our friendly team of specialists for impartial advice on choosing the right CRM for your needs. Yes, we’re HubSpot Diamond Partners, but we never recommend HubSpot to a business that would be better suited to a different platform.
Usage limits and scalability
HubSpot is designed to scale alongside a business. You can upgrade your package as your business grows, ensuring that the platform grows with you.
However, this does come with a drawback – usage limits.
Depending on the tier you select, HubSpot restricts the number of contacts you can manage and the templates you can use. While this won’t affect smaller businesses in the early stages, it can become a limitation as your company scales.
This is why it’s crucial to plan ahead and factor in these incremental costs to avoid unexpected expenses later down the line. It doesn’t really impact HubSpot’s overall profitability, but it is a small thing to keep in mind as your usage increases.
Complex builds and integrations
For businesses with unique technical requirements, HubSpot shines through its ability to support complex builds. Custom development, API integrations, and tailored workflows can be handled through the platform with relative ease. If your business requires specific integrations with third-party tools or custom API configurations, HubSpot provides the resources and support to make it happen.
However, not all integrations work out of the box. We recommend working with an integrations partner who can ensure that your essential third-party integrations work seamlessly with your HubSpot CRM.
How to get more value from your HubSpot
HubSpot carries inherent value, but there are certain things you can do to get even more value from HubSpot. Here are 6 things you can do to get more value from your HubSpot:
1. Make full use of automation
HubSpot’s greatest strengths lay in its automation capabilities, yet many businesses only scratch the surface. Automating repetitive tasks like email marketing, lead nurturing, and even customer support can save significant time and boost efficiency.
- Workflow automation – Use workflows to automate processes such as sending follow-up emails, assigning tasks to team members, or even scoring leads based on their interactions with your website.
- Lead scoring – Automatically assign values to leads based on their behaviour, allowing your sales team to focus on high-priority prospects.
- Personalised email campaigns – Create tailored email sequences that trigger based on a customer’s journey. This not only improves engagement but also enhances conversion rates.
2. Customise your dashboards and reports
To truly maximise value from HubSpot, you need to leverage your data. HubSpot’s reporting features are robust, but they become even more powerful when customised to meet your specific business goals.
- Tailored dashboards – Set up custom dashboards for different departments or objectives, such as sales, marketing, and customer services. This allows you to keep track of KPIs that matter most to your team.
- Advanced reporting – If you’re using HubSpot’s Marketing Hub Professional or Enterprise, you can create custom reports that provide deeper insights into campaign performance, sales pipelines, and customer behaviours.
- A/B testing and reporting – Use A/B testing on landing pages and emails to optimise your conversion rates and measure the impact through detailed reports.
3. Optimise your content strategy with the CMS
If you’re using HubSpot’s CMS, it’s essential to maximise its content management capabilities. Beyond just publishing blogs or landing pages, you can leverage HubSpot’s SEO tools, smart content, and personalisation features to enhance your content strategy.
- Smart content – This feature allows you to show personalised content based on a visitor’s past behaviour or their stage in the buyer’s journey. Personalised content is proven to improve engagement, so shouldn’t be neglected.
- SEO recommendations – HubSpot offer on-page SEO suggestions that help you optimise your content for search engines. Take advantage of this to ensure your blogs, landing pages, and website content rank higher on Google and other search engines.
- Content clusters and pillars – HubSpot’s content strategy tool helps you create topic clusters around your main themes, improving site structure and SEO performance.
4. Leverage HubSpot academy and support
HubSpot offers a wealth of educational resources, most of which are free. Whether you want to train your team or simply learn about new features, HubSpot Academy is a valuable resource.
You can earn free certifications (all of which are taught through video), or you can get in touch with HubSpot’s excellent customer support. For more complex needs, HubSpot recommend getting in touch with a specialist HubSpot agency for tailored guidance.
5. Regularly review your subscription plan
Over time, your business needs will change, and so might your HubSpot requirements. We recommend that you regularly review your subscription plan to ensure you’re on the right tier.
This means adjusting contact lists (to ensure you’re within your contact limits) and upgrading/downgrading your plan based on changing needs.
HubSpot are often open to custom bundling; you have some flexibility to combine different products (Marketing, Sales and Service Hubs, for example).
6. Foster collaboration across teams
HubSpot is designed to be used by multiple departments, not just your marketing team. The Sales, Marketing, and Service Hubs integrate seamlessly, ensuring all teams have access to critical customer data.
This is why onboarding is so important. Good onboarding will align your sales and marketing teams, ensuring that data is shared, silos are avoided and customers enjoy a seamless sales experience.
However, this collaboration is dependent on team members embracing change, which isn’t always guaranteed.
How can you increase HubSpot buy-in from your teams?
One of the biggest hurdles that any business using HubSpot faces is getting everyone on board and using the new CRM.
Many people are set in their ways and will resist change – it’s Catalyst’s job to help you avoid that.
Our bespoke HubSpot support packages are designed to ensure you get true value out of your HubSpot subscription. We’ve helped hundreds of HubSpot customers with their CRMs (so many that HubSpot themselves recommend us!).
We’ll onboard your key users, upskill your teams and handle your HubSpot environment, meaning you never need to worry about HubSpot not delivering a profit ever again.
When you’re ready to talk, we’ll be here for a no-obligation chat. Get in touch with our HubSpot specialists today:
