7 Reasons Why HubSpot’s New Leads Object is an Epic Tool
Let go of everything you thought you knew about lead management. HubSpot has just added a new leads object to Sales Hub, and it's about to revolutionize lead management.
1. It’s built different
Those who have worked with Salesforce or Microsoft Dynamics 365 probably shudder at the thought of working with another leads object. There's no need to worry - HubSpot's new leads object completely redefines how leads function in a CRM.
Here's how it works: The new leads object is a new object that acts just like deals or tasks. Leads cannot stand alone; they must be associated with an object like contacts or companies. Leads in HubSpot are records you create and attach to your contacts to help you track and manage prospecting activities.
2. It just makes sense
In HubSpot, creating and associating a lead with a contact signals the possibility of selling to them. Therefore, it never made sense to us why some CRMs limit you to converting leads just once. It is likely that there will be a lot of opportunities for selling throughout their lifecycle. As a result, HubSpot allows a single contact to have multiple lead records associated with it.
As an example, consider working a lead but disqualifying them due to a budget constraint. It's easy to create a new lead for that contact next year, indicating that there's renewed potential to sell to them. The great thing about this 1:many relationship between contacts and leads is that it keeps your previous qualification attempts as historical data on your contact records.
3. It works seamlessly with lifecycle stages
If you've worked in HubSpot, you know how important customer lifecycle stages are. Contacts not only define your relationship with your business, but also facilitate alignment across your customer-facing teams. For example, it helps marketing teams let sales know when a new lead has been nurtured and qualified. When their stage reaches MQL, sales should be prepared to work with them. As we didn't want that to change, we made sure that the new leads object followed the same principles.
The setup process will prompt you to select whether you want leads to be automatically generated or not. HubSpot allows you to define at what lifecycle stage lead records should be generated for your reps and what lifecycle stage contacts should have when they have an associated lead record. Consider when your sales team should be involved in setting it up at what stage in the lifecycle.
4. It automates data entry
Keeping focused on one activity at a time is a key to success for sales and business development reps (SDRs/BDRs). When they have to update records, log outcomes, and jump between tabs while making calls, they are more likely to get distracted and lose momentum. Your reps can focus on their prospects by using HubSpot's new lead object, which automates a lot of the administrative busywork.
Depending on how your reps interact with their leads, lead stages will automatically update. As an example, if they sent a cold email or left a voicemail, the lead stage for that record will jump from 'New' to 'Attempted'. When they respond or log a meeting, the stage will automatically change to 'Connected'.
5. It seamlessly converts prospects into pipeline
BDRs/SDRs will also be able to communicate more effectively with your account executives with the new leads tool. Your reps can easily pass leads to your account executives using the new leads object. By doing this, you not only reduce your sales cycle, but also improve the customer experience.
The process is very simple. HubSpot will open a deal creation panel as soon as you qualify a lead. The only thing left to do is for your reps to fill out some required fields. HubSpot will automatically associate the right records to the deal so your account executive has all the information to quickly start closing that new deal.
6. It’s opinionated
For someone who works leads and performs prospecting activities on a daily basis, understanding what's most impactful can be challenging. Thankfully, the new lead management tools provide your reps with guidance on what actions to take when.
HubSpot will highlight suggested activities throughout the prospecting workspace. You will also find prompts to respond to emails, suggestions to block time to make calls, reminders to reach out to newly assigned leads, and directions to schedule the next activity.
7. It empowers data-driven coaching
A deep understanding of your lead management performance is crucial to sales success. With HubSpot's new leads object, managers can make data-driven decisions about how to optimize their sales processes and coach their employees.
With the new out-of-the-box lead funnel report in sales analytics, you can easily track and analyze the progress and success rates of your leads. Gain valuable insight into conversion rates, rep efficiency, and sales outcomes by customizing the report to align with your preferred lead stages and filters.
Are you ready to upscale your lead management?
With HubSpot's new leads object, you have the ultimate tool to revolutionize how you manage and nurture your leads. With Sales Hub, you can boost your sales team's productivity while empowering them with context and relevance to generate more leads.