Mastering HubSpot Pipeline Management and Deal Stages

Benefits of Using HubSpot Sales Pipelines and HubSpot Deal Stages

The main benefit of utilizing HubSpot Sales Pipeline and Deal Stages is the simple fact that it is designed to give you and your team complete visibility of every element within your sales funnel or pipeline. You can keep up with who your sales team is in communication with, what needs to be done next to help a prospect move through the pipeline and evaluate how far away you might be from closing the deal in question. This information is key when it comes to monitoring the effectiveness of your pipeline, and considering future business development opportunities, making it vital in sales forecasting.

These deal stages, which, again, should be considered small steps that build your sales pipeline, are key in helping you find solutions to potential sales problems. For example, you can easily see if a deal is stuck at a particular stage, and consider if it is moving too slowly or headed in the right direction. If not, you can determine if you need to take a different strategy or allocate different resources toward moving a prospect forward in the process. 

The stages and the fact that they are often highlighted by the percentage of likelihood (or probability percentage) of getting to a closed or successful deal will help you identify and address potential sales blockages and consider where your team needs to aim their attention. Of course, the benefits of using deal stages through HubSpot don’t end here. They also allow you to monitor follow-ups, future engagements, and more, helping you foster customer loyalty over time.

When to Create a New Deal in HubSpot CRM

HubSpot recommends that you create a new deal when a prospect moves forward in your sales pipeline, arriving at a key point in the process. For example, this could be when a meeting is booked to discuss your product or service. A HubSpot deal is a record that is assigned to a specific sale or customer. This deal allows you to track the progress of a prospect through your sales pipeline. You could create deals with new prospects or established customers. Deal information includes key information like the deal name, the amount of the sale, and the expected close date for the deal.

How to Set Up or Modify Your Deal Stages in Your HubSpot Portal

Modifying your sales pipeline and your specific deal stages is easy and simple through HubSpot’s CRM system. Here are some easy-to-follow instructions guiding you through the process. Whether you are hoping to change your sales steps, label them differently, or even add or take away some stages, HubSpot has options for you to customize and personalize your sales strategy. Thankfully, Market Veep’s integration services, involving HubSpot CRM and more, include a vast array of modification capabilities and customization for ease of use and more effective strategies.

Continue to Evaluate and Update Sales Strategies

Reviewing your deal stages and updating your pipeline is part of mastering the HubSpot pipeline. Do this regularly to determine if what you are doing is working or could be more effective.