Learn: How to Create a Deal in Hubspot CRM

December 14, 2016
David McMahon

David McMahon

I wrestle with marketing technology so you don't have to. In my spare time, I run a marketing group with 1100+ marketers helping each other to attract new customers and share ideas. You are welcome to connect with me here.

Create a DealKnowing how to track sales opportunities is key to see the improvement of your sales team. But is all starts by planning and creating the deal stages within HubSpot CRM.

 

Within HubSpot CRM the Deals are the records that HubSpot CRM has created to track sales “opportunities" through the pipeline. Consider the Deals tool as a way to identify, track, and record the experiences your contacts and companies went through before becoming customers.

Deal Stages allow you to categorize and track the progress of the deals that you are working on within HubSpot CRM. Each Deal Stage has a probability associated that indicates the likelihood of closing deals marked with that Deal Stage.

Watch the video below to see how deals work, then we will explain how to set up deals stages, import existing deals and more.

 

Explore HubSpot CRM - Create a Deal 

 

Video Transcription:

Of course, the main advantage of HubStop CRMis the ability to map out your sales pipeline. Here on the deals screen, we have the ability to create a deal. All of the salespeople can type in and create their own deals as they go through the database to keep track of any sales potential, sales opportunities.

 

Here we have a sales opportunity, and we can set which sales pipeline. So you can have multiple sales pipelines in HubSpot and you can choose and customize your own deal stages; which we will look at in the set up video. We can assign a dollar value to this particular opportunity and we can set a date as to when this opportunity is due to be closed, being in one month’s time. We can assign the salesperson and we can also assign the company that it belongs to. We have the ability to attach the sales, sorry, the deal to an individual person.

 

Now remember, you can create a deal within the contact screen and you can also create it within the company screen as well. This is one of the many different ways you can create your own deal stage. Once its created, you then have the ability for each deal in the notes, activities, tasks, and also schedules, and meetings for that particular deal. If you are wanting your people to work on the deal, you can do so accordingly.

Coming back to the deal window, you have also the ability to look at it as a board story. We can move deals through the different stages within your own customized pipeline. Once it has been decided that the deal has come up for to be one, is just a simple case of moving into the one column and a message will come up that asks me to put in the date in which it was closed and the reason why. Prompting all of the salespeople to give feedback on the success or failures of your deal progress.

 

Of course, you will notice as you move the deals from side to side the total or estimated value of that particular stage is also added up, giving the sales manager the ability to keep track of potential sales and the likelihood of when that sale and the value of the sale.

 

Hubspot CRMGetting Started with Deals

Step 1. How to setup Deals Stages in HubSpot CRM

By default, the HubSpot CRM includes a Sales Pipeline with seven deal stages:

  • Appointment Scheduled (20%)
  • Qualified to Buy (40%)
  • Presentation Scheduled (60%)
  • Decision Maker Bought-In (80%)
  • Contract Sent (90%)
  • Closed Won (100% Won)
  • Closed Lost (0% Lost)

We recommend you change the deal stages for your organisations

Step 2. Set the currency of the Deals in HubSpot CRM

By default HubSpot CRM is set to use US currency, so it make sense for Australian business to change this to Australian Dollars

 Hubspot CRM

Step 3. How to Import deals into HubSpot CRM (If required, we can help you check our the HubSpot CRM Services)

 

Using and Managing Deals

Training articles to help your sales teams to get started with Deals.

Pro Tips: When you create a deal record, HubSpot CRM will automatically change the field "lifecycle" on the contact / company property to "opportunity".

 

Understanding the Closed Won and Closed Lost?

With deal stage there are two deal stages called "Closed Won" and "Close Lost". When a sales person closes a deal (sales opportunity) they will be required to mark the deal closed and provide a reason for the why. This is important to help keep track of the sales person performance and provides a great source of analysis to help improve your organisations sales process.

When you close a deal in HubSpot CRM the following occurs;

  • When the stage of a deal is changed to 100% (Closed Won), the lifecycle stage of any associated Contacts and Companies will change to ‘Customer’.

  • When the stage of a deal is changed to 0% (Closed Lost), the lifecycle stage of any associated Contacts and Companies will remain as ‘Opportunity’.

Pro Tip: When you close the deal "close won", the software will also change the Lifecycle stage from "Opportunity" to customers If the Contact or Company has already been associated with a Closed Won Deal, any future Deals which are Closed Lost, will not change the Lifecycle Stage from 'Customer' to 'Opportunity'.  

 

What is Lifecycle Stage in Hubspot CRM?

Lifecycle Stage is a powerful function in HubSpot and is also used HubSpot CRM, designed to designate where contacts are in your marketing funnel. Each stage represents a transition down the funnel.

There are 7 stages (from top of the funnel first to bottom of the funnel last), are: 

  • Learn Hubspot CRMSubscriber: Think of subscribers as those folks who know about you and have opted in to hear from you periodically. In many cases your subscriber base is the segment of your contacts database that has only signed up for your blog or newsletter and nothing else. 
  • Lead: Leads have shown more interest in what you offer than subscribers have. Typically a lead has filled out a form with more than just an email address, often for some sort of content-based offer on your website. 
  • Marketing Qualified Lead: Marketing Qualified Leads, commonly known as MQLs, are those people who have raised their hands (metaphorically speaking) and identified themselves as more deeply engaged, sales-ready contacts than your usual leads, but who have not yet become fully fledged opportunities. .
  • Sales Qualified Lead: Sales Qualified Leads are those that your sales team has accepted as worthy of a direct sales follow up. Using this stage will help your sales and marketing teams stay firmly on the same page in terms of the quality and volume of leads that you are handing over to your sales team.
  • Opportunity: Opportunities are contacts who have become real sales opportunities in HubSpot CRM when you create a deal.
  • Customer: This is everybody’s favorite lifecycle stage: an actual, paying customer.
  • Evangelist: Evangelists are those contacts that are advocates for your business - they sing your praises from the rooftops! They are usually a small but vocal group who will refer new business to you unsolicited. 
  • Other: Other is the wildcard lifecycle stage. Examples of what this stage has been used for include: closed lost opportunities, customer renewals, and key accounts.

 

HubSpot CRM will update lifecycle Stage for both Contact & Company Record When?

HubSpot CRM will automatically update the lifecycle stage of Contacts or Companies when you create a deal for them to "Opportunity" and will change it to "Customer" when that deal reaches a deal stage with a 100% probability (Closed Won). A few extra triggers available are

  • When a Company is associated with a deal, the lifecycle stage will update to 'Opportunity'.
  • When a Contact is associated with a deal, the lifecycle stage will update to 'Opportunity' provided they do not have their lifecycle stage set to 'customer', 'evangelist', or 'other'."

How can Hubspot Help You?

Pro Tip: If the lifecycle stage of a Company is updated, then the lifecycle stage of all Contacts associated to that Company will also be updated if 'Lifecycle stage sync' on the Setting tab is set. An awesome method to ensure all the contacts records are keep up to date.


 

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