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 ea
