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Every year, HubSpot's INBOUND conference sets the tone for the inbound marketing, sales, revenue operations, and customer success world. But INBOUND 2023 was different. It wasn't just about trends or tools; it was a comprehensive blueprint of where the business world is heading. With a clear focus on customer-centricity, AI-driven strategies, and the power of community, HubSpot laid out a vision that every team, big or small, needs to pay attention to.
As we dive into the key takeaways from this pivotal event, we'll uncover the strategies revenue leaders must adopt, the pitfalls they must avoid, and the opportunities they can't afford to miss.
What's New in HubSpot in 2023?
Before we dive into key lessons from INBOUND 2023, let's do a recap of monumental changes to the platform's offerings, as announced by Yamini Rangan, CEO of HubSpot, Andy Pitre, EVP of Product at HubSpot, and Dharmesh Shah, Co-Founder and CTO of HubSpot, hosted the "HubSpot Spotlight" conference and announced the significant updates to the platform:
Embracing AI: HubSpot emphasized the importance of leveraging artificial intelligence to better understand customers and communities. The platform showcased how businesses can use AI to create more personalized and empathetic experiences.
Introduction of HubSpot Smart CRM: A significant leap into integrating AI tools within the platform, the "HubSpot Smart CRM" is designed to assist in content creation and generate recommendations.
Super Charged Sales Hub: HubSpot unveiled a dedicated prospecting workspace for sales teams. This workspace allows representatives to organize their day efficiently and includes features like prospect qualification forms, new prospect reports, and enhanced features for sequences.
Enhanced Integration with Salesforce: HubSpot now offers a more robust integration with Salesforce, ensuring seamless interaction between both platforms.
Advanced Revenue Forecasting: HubSpot introduced new analytics data for better revenue trend alignment with sales goals. AI insights now provide accuracy checks on revenue forecast views.
Labels for Transactions: To streamline sales processes, sales teams can now create labels for transactions, making it easier to identify focus areas.
Additions to Conversation Guides: HubSpot introduced tool recommendations for the best conversation guide ("playbook") based on contact properties.
Personalized CRM Experience: HubSpot introduced features to enhance efficiency by customizing record views based on teams.
HubSpot's AI Assistant: The "Campaign Assistant" was launched to support marketing efforts. This AI assistant aids in creating campaign variations, suggesting email content, generating social media and advertising content, and more.
AI-Powered Website and Landing Page Creation: HubSpot introduced the "AI Website Builder" and the Campaign Assistant for quick website and landing page creation.
AI in the Inbox: AI now summarizes email exchanges in the inbox and provides AI-generated response suggestions.
AI-Generated Reports: Users can now instruct AI in writing about what they want to monitor, and the report will be generated.
The Arrival of Commerce Hub: HubSpot unified all commerce tools under one roof, introducing features like Stripe payments, quick invoice generation, and more.
Mobile Message Optimization: HubSpot introduced features for SMS and WhatsApp messaging, including personalization tokens and automated consent management.
These updates reflect HubSpot's commitment to innovation and its focus on artificial intelligence. The introduction of the "HubSpot Smart CRM" and other AI-driven tools demonstrates the platform's forward-thinking approach, ensuring businesses have the latest tools to succeed.
Lessons Learned from INBOUND 2023
Now that we're acquainted with the latest HubSpot updates, let's dive into the key lessons from INBOUND 2023.
1. To thrive, companies must prioritize customer-centricity and adapt to evolving customer needs.
Customer expectations are ever-changing, and HubSpot recognized this by evolving from a CRM platform into a comprehensive 'Customer Platform.' The introduction of HubSpot Smart CRM, connected engagement hubs, Commerce Hub, and a robust ecosystem is a strategic move to cater to the multifaceted needs of the ecosystem. It's about envisioning a future where businesses are seamlessly integrated, agile, and laser-focused on the customer.
It's a clear message to the industry: the age of siloed operations is over. The future belongs to integrated, customer-centric platforms.
Our Take: We've always been advocates for a holistic approach to customer engagement. HubSpot's evolution resonates with our ethos. As an Elite HubSpot Solutions Partner, we're geared up to help businesses leverage this integrated platform to its fullest.
2. Team alignment, adaptability, and collaboration are key to sustainable growth.
The industry-first "State of HubSpot 2023" report, created by New Breed, is more than just data—it's a compass for businesses navigating the future. This report offers a deep dive into the HubSpot ecosystem, spotlighting the strategies that distinguish the frontrunners. A standout insight: While 97% of business leaders recognize the value of team alignment, a significant 87% grapple with aligning their sales, marketing, and customer success teams.
The lesson is that to achieve sustainable growth, businesses must foster a culture of collaboration and be willing to pivot their strategies based on real-time insights.
Our Take: Producing the State of HubSpot report was our way of giving back to the community, offering insights, and setting the stage for future success. We're committed to continuing the research and digging deeper into the findings to provide actionable recommendations that help our clients stay ahead in the HubSpot ecosystem.
3. AI redefines customer connections and personalized experiences.
The spotlight on AI at INBOUND 2023 was undeniable, signaling a paradigm shift in customer interactions. The integration of AI features, referred to as the "HubSpot AI Assistant," promises to redefine how companies create customer connections.
The State of HubSpot report further underscores this, revealing that 3 in 5 revenue leaders, optimistic about 100% growth, earmark AI as their top investment for 2023; plus, nearly half expect their CRM to adopt AI to enhance cross-functional collaboration.
But the real revelation lies in the nuanced applications of AI. From enhancing cross-functional collaboration to driving proactive customer service and offering granular insights for segmentation, AI is redefining the rules of engagement. The message is clear: Businesses that wish to lead must embrace AI, not as a tool, but as a strategic partner.
Our Take: We've been meticulously tracking the ascent of AI and its ramifications for customer connections. As HubSpot integrates an increasing number of AI-driven features, we're keen to assist businesses in tapping into this potential for enriched customer connections.
4. AI-driven predictive forecasting is essential for understanding customer behaviors and market trends.
The sales domain has always been dynamic, but recent advancements have ushered in a transformation like never before. AI, with its unparalleled data processing capabilities, is redefining how sales teams approach reporting and forecasting.
Gone are the days of manual number crunching and gut-feel predictions. Today, AI-driven tools within platforms like HubSpot offer precise, real-time insights, allowing sales teams to make informed decisions with confidence. The relaunch of Sales Hub emphasizes the importance of AI in revolutionizing the sales process.
Our Take: In the State of HubSpot, respondents reported the number one way they are achieving profitable and efficient growth with HubSpot is through analytics tools to monitor performance. With HubSpot's suite of AI-driven tools, we're excited to guide businesses in this new era of sales, ensuring they harness the full potential of AI for optimal outcomes.
5. User experience and adaptability are key CRM differentiators.
In the competitive CRM industry, INBOUND 2023 was a highlight of why HubSpot has not only become a front-runner but is disrupting the playing field. State of HubSpot report revealed that 4 out of 5 non-HubSpot users reported they are considering migrating to one or more HubSpot hubs in the next 12 months, and 80% of HubSpot users have reported an increase in booking and revenue since implementation. The data also highlights that HubSpot's user-centric approach, combined with its relentless pursuit of innovation, is reshaping the CRM landscape.
But it's not just about numbers; it's about the experiences behind them. INBOUND 2023, and the electric energy it created, is a testament to HubSpot's ability to listen to its users, adapt, and deliver solutions that resonate.
Our Take: Our journey with HubSpot has been one of mutual growth and learning. In the State of HubSpot, we identified key strengths and areas of opportunities. As we continue to help companies get the most out of HubSpot and its features, we're confident in the platform's potential to redefine CRM standards.
6. Seamless integrations and partner support are pivotal for operational efficiency and unified customer connections.
In the digital age, the ability to integrate seamlessly across platforms and tools is more than just a convenience—it's a strategic imperative. HubSpot, with its expansive ecosystem, has been at the forefront of this integration-centric approach, ensuring businesses can operate more efficiently and offer unified customer connections. But it's not just about the technology; it's about the partnerships that amplify its impact.
Findings from the State of HubSpot underscore this point: 87% of revenue leaders saw improved new customer acquisition rates by implementing HubSpot alongside external expert support. This highlights the synergistic effect of combining HubSpot's robust platform with the expertise of RevOps partners. It's a testament to the fact that while technology can provide the tools, it's the strategic partnerships that often drive transformative results.
The lesson here is twofold. First, in a world where operational efficiency can be a game-changer, integrations are non-negotiable. Second, to truly unlock the potential of a platform like HubSpot, businesses must look beyond the software and consider the broader ecosystem of partners and experts that can elevate their strategies.
Our Take: Integrations have always been a cornerstone of our approach, and we've seen firsthand the transformative power of HubSpot when complemented by strategic RevOps partnerships. It's not just about implementing a tool; it's about weaving it into the very fabric of your operations, and we're here to guide businesses on that journey.
7. A strong community can drive positive impacts and offer invaluable support.
Communities are not just about numbers; they're about shared values, collective growth, and mutual support. The HubSpot community, with its vibrant tapestry of users, partners, and enthusiasts, embodies this spirit. In a year marked by challenges, the community's optimism has been a beacon of hope.
Despite only 7% of revenue leaders expressing confidence in meeting all their targets, the broader sentiment within the HubSpot community is one of positivity. This juxtaposition offers a lesson: Even in the face of adversity, a unified community can drive positive change, offering support, insights, and a platform for shared growth.
Our Take: New Breed's association with the HubSpot community is a source of immense pride and inspiration. We've been both beneficiaries and contributors to this vibrant ecosystem. As we move forward, we're committed to fostering collaboration, sharing insights, and helping the HubSpot community thrive.
Conclusion: The Road Ahead with HubSpot
The revelations from INBOUND 2023 provide a clear roadmap for businesses gearing up for the future. As the digital realm continues to evolve, platforms like HubSpot are setting the pace, introducing groundbreaking solutions, and nurturing a dynamic community. At New Breed, we're enthusiastic about the journey ahead and are on a mission to help companies unlock meaningful growth by getting the most out of HubSpot.
Ready to dive deeper into the insights from HubSpot's INBOUND 2023? Download the comprehensive State of HubSpot 2023 report now to gain a deeper understanding of the strategies that distinguish frontrunners in the HubSpot ecosystem. Click here to access the report and stay ahead of the curve.
Jonathan Burg is the SVP of Marketing at New Breed. Prior to New Breed, he's led sales, marketing and customer success teams at profitable and high growth technology companies as a Chief Revenue and Marketing Officer. He is passionate about designing high-performance revenue organizations and category leading brands...