How Track Recurring Revenue in HubSpot

Did you know that customer relationship management (CRM) software is now the biggest software market in the world, projected to grow to upwards of $80 billion by 2025? Clearly, people worldwide are feeling the need to shift to CRMs. Why is that? And how can it be supercharged with another booming software business that provides services of subscription management? In this blog, we will be answering all these questions while keeping in mind the specific software of HubSpot CRM and SubscriptionFlow. In doing so, we will be seeing how HubSpot recurring revenue can be boosted using SubscriptionFlow and how to track recurring revenue in HupSpot to prepare for future growth.

What is HubSpot?

HubSpot is a popular CRM software that provides a variety of tools for marketing, sales, and customer care. It assists businesses in attracting, engaging, and satisfying consumers by providing email marketing, social media management, lead generation, analytics, and automation solutions. The user-friendly design and integrated capabilities of HubSpot can help your business optimize its operations, improve customer experiences, and drive it forward to a path of upward growth.

How HubSpot Manages Recurring Revenue?

Let us go through some of HubSpot’s individual features and capabilities to understand how it manages recurring revenue.

1. CRM Integration: HubSpot’s CRM solution allows businesses to track leads, sales, and customer interactions. This assists sales teams in managing pipelines, forecasting revenue, and nurturing relationships with both new and existing clients.

2. Marketing Automation: HubSpot’s marketing automation solutions enable firms to develop focused campaigns, analyze consumer interaction, and evaluate marketing effectiveness. Businesses may enhance conversion rates and make more money by nurturing leads and leading them through the sales funnel.

3. Reporting and Analytics: HubSpot has sophisticated reporting and analytics services that provide insights into different elements of a business’s success, including revenue. Businesses may optimize revenue-generation strategies by tracking important data, analyzing trends, and making educated decisions.

4. Customer Retention: HubSpot’s customer care products assist firms in providing outstanding assistance and maintaining strong customer connections. Customer retention, repeat business, and positive word-of-mouth may all contribute to revenue development when provided with high-quality customer service.

5. Upselling/Cross-selling: HubSpot helps businesses to uncover upselling and cross-selling possibilities by providing a complete picture of customer interactions and preferences. This method has the potential to enhance average transaction value and overall revenue per client.

6. Personalization: The personalization features of HubSpot enable businesses to personalize their messages and products to specific customers. Businesses may increase customer happiness and income by providing relevant material and suggestions.

CRM x Subscription-management Platform: A Double-decker Boost for Your Business’s Recurring Revenue

That said, there is one other way in which HubSpot can supercharge your business’s recurring revenue and that is by effectively integrating with a subscription management platform like, say, SubscriptionFlow, to boost HubSpot recurring revenue even more for businesses that implement the subscription model.

Possible Ways of Integrating HubSpot with Subscription-management Software and Its Benefits

Integrating HubSpot CRM with subscription management software may greatly improve customer relationship management for subscription-based organizations. Here are several methods for integrating the two systems to boost revenue in HubSpot CRM:

1. Data Sync: Sync client data, subscription plans, and payment information between HubSpot CRM and subscription management software. This guarantees that both systems have consistent and up-to-date client information.

2. Automated Workflows: Create automated workflows that trigger activities in the subscription management software based on HubSpot CRM client interactions. When a lead converts to a customer in HubSpot CRM, an automated workflow may start creating subscriptions in the subscription management system.

3. API Integration: Connect HubSpot CRM with subscription management software via APIs. This allows for real-time data transmission while also ensuring that changes made in one system are reflected in the other.

4. Single Sign-On: Implement Single Sign-On (SSO) capabilities for smooth access to both the HubSpot CRM and subscription management platforms using a single set of login credentials.

There are a lot of benefits to integrating your HubSpot CRM with a robust subscription management platform like SubscriptionFlow as it can afford your business the following benefits to track recurring revenue in HubSpot:

1. 360-Degree Customer View: Integration gives you a complete picture of your customers’ interactions. This allows for tailored interaction by better knowing consumer behavior, preferences, subscription history, and engagement levels.

2. Efficient Data Management: Centralized customer data avoids data duplication and inconsistencies, improving data accuracy and decreasing mistakes caused by manual data entry.

3. Billing and Invoicing Automation: Integration provides automated billing depending on subscription information. Subscription management software may automatically update payment information as subscription changes occur, such as upgrades, downgrades, or cancellations.

4. Improved Customer Support: client support employees now have access to entire client profiles, subscription status, and payment history. This allows for greater help and faster problem resolution.

5. Accurate Forecasts: Integrated data enables accurate revenue and customer growth forecasts, allowing for more informed decision-making and goal-setting.

6. Improved Upselling and Cross-Selling: By combining information, firms may more effectively discover upselling and cross-selling possibilities. Customers that may benefit from extra services or higher-tier subscriptions can be identified using HubSpot CRM data.

7. Personalized Marketing: Data integration enables personalized marketing strategies. Businesses may adjust promotions, offers, and communication based on the state and preferences of their customers’ subscriptions.

8. Reduced attrition: Having a consistent picture of client interactions allows you to address customer complaints proactively, minimizing attrition. Automatic subscription renewal reminders can help avoid inadvertent cancellations.

9. Streamlined Operations: Automation and data synchronization streamline operations, minimizing human duties and potential mistakes and leading to increased operational efficiency.

10. Scalability: As a company grows, integrated systems provide smooth customer data and subscription management, removing bottlenecks and ensuring customer happiness.

The bottom line

The combination of HubSpot CRM and a subscription management software such as SubscriptionFlow has enormous potential for businesses looking to improve their recurring income strategy. As the CRM software market expands, this connection provides a two-for-one boost by combining HubSpot’s customer-centric capabilities with the speed and accuracy of subscription management. Businesses may acquire a 360-degree perspective of client interactions, improve data management, and optimize billing and invoicing processes by utilizing data synchronization, automated workflows, API connection, and Single Sign-On. This integration fosters better customer service, more accurate revenue forecasts, and focused upselling and cross-selling initiatives, all of which lead to higher customer satisfaction, long-term success and lets you track recurring revenue in HubSpot.

Book a demo with SubscriptionFlow to effectively integrate it with HubSpot CRM and supercharge your recurring revenue now!