You know what they say: data rules all. Well maybe not everyone says that. However, as a modern market, sales, or service professional, you understand the importance of data. Simply put, you're missing out if you’re not leveraging customer data. Customer data unveils insights that are not just a mystery but an opportunity. Whether you’re focused on scaling your business, retaining customers, driving leads, or all of the above–benchmark data is crucial for success.
During HubSpot’s 2023 annual INBOUND event, Jonathan Burg, Senior Vice President of Marketing at New Breed, and Peter Caputa, CEO of Databox, revealed valuable insights from more than 1,000 revenue leaders. To set the stage (pun intended) Peter started the Solutions Partner program at HubSpot—which today, has thousands of members. Their session didn’t just cover the key takeaways from the benchmark report. The duo provided actionable next steps. Jonathan and Peter's findings from the new report showcase the challenges and opportunities revenue leaders face today. Let’s dive in.
4 Takeaways from The State of HubSpot INBOUND Session
1. A & I are the buzziest vowels right now—and for good reason.
Revenue leaders see AI as their biggest investment and opportunity. In fact, 3 in 5 revenue leaders who predict 100% growth in the next year rank AI as their top investment. Not only can AI tools streamline administrative tasks, AI can also provide advanced reporting metrics and create game-changing campaigns for modern revenue teams. There’s no question that AI is disrupting almost every industry and its impact is widespread. With the right AI tools, revenue leaders can create better efficiencies for personalization, content creation, reporting, analytics, and even design.
2. Prioritization is the number one challenge for revenue leaders.
Time is perhaps the greatest asset and it cannot be bought. It’s no coincidence that there are thousands of podcasts, resources, and articles about time management. Considering the limited hours in the workday, prioritization has never been more top of mind. Today, revenue leaders are doing more with less — meaning efficiency is key. In an effort to be more strategic with how and where time is allocated, leaders should be asking questions like:
Where should resources be allocated?
How can teams do more with less resources?
Can AI replace traditional sales and marketing roles?
By understanding the importance of properly allocating resources - and time, revenue leaders can shift priorities in the right direction.
3. Alignment = improvement.
Jonathan and Peter presented data that found a whopping 97% believe alignment between teams is beneficial for everyone. Respondents agreed that alignment can positively impact revenue, customer satisfaction, and even customer retention.
Why is alignment so essential? The data suggests that the heart of alignment lies in integrated technology. In fact, two-thirds of respondents believe that a cohesive tech stack plays a significant role in enhancing marketing and sales alignment. With the modern workforce embracing a variety of models—from fully in-office setups to entirely remote environments—the role of integrated technology becomes paramount. This interconnected tech approach not only facilitates seamless communication but also reinforces its foundational importance in strategizing effectively.
4. HubSpot increases revenue.
With a myriad of CRM tools available, customers have choices. And with choices, there are more and more factors to consider. Especially as you think about investing time and resources in a new platform. Among HubSpot users, 80% saw increased bookings and revenue. Recent investments in HubSpot products result in advanced capabilities and increased return on investment. When asked about the key strengths of HubSpot tools, respondents cited multiple benefits: marketing and sales analytics, overall user-friendliness, customer support tools, efficiency, and capabilities to customize.
As we get ready to approach Q4 and close out the year, we’ve experienced a year of significant change. Change is difficult but brings with it an opportunity for growth. Jonathan and Peter shared insight directly from 1,000 revenue leaders on invaluable business practices. These insights underscore the importance of AI investment, efficient prioritization, team alignment, and HubSpot’s role in driving revenue growth and leveraging customer data for success. As we navigate a year of significant change, these takeaways serve as guidance for businesses aiming to adapt, grow, and thrive in the evolving marketplace.
If you'd like to tap into more insights from the State of HubSpot report, download your copy below!