6 Quick Tests–is your CRM doing what you need right now?
6 Quick Tests to help you gauge whether HubSpot is serving your franchise marketing and sales process well.
In this Executive Brief:
Are you getting what you need out of HubSpot for Fran Dev? Here are 6 Quick Tests (with some examples, expectations, and suggestions) to help you gauge whether HubSpot is serving your franchise marketing and sales process well.
What you need to know:
HubSpot is a powerful tool. Like all powerful tools, if you aren’t using it well or aren’t using it at all, the best thing you can hope for is that you won’t hurt yourself.
But its really hard to know if you’re getting what you need out of HubSpot.
The quickest way to know if you’re getting true value is this question:
Is HubSpot a source of truth or a source of stress and confusion?
But what does that mean? What does “good” look like?
Here’s a breakdown of 6 Tests you can give your organization to see if your HubSpot setup serving your Franchise Development marketing and sales process well.
The 6 Tests
1. Do your dashboards reflect what you need to see to steer the ship?
For example:
Can you spot where problems are starting accumulate before things become a full-blown emergency?
What you should expect:
You have an executive-level visibility into every division’s top-level KPIs.
Your reporting focuses on just a few metrics per division.
The metrics reflect performance and whether that performance is good and on track or needs attention.
The data in your dashboards accurately reflect performance—your team is working in the CRM so the data is captured.
Each of your leaders has a more detailed view of their performance that breaks down metrics even further.
How your franchise might do this:
One Executive Dashboard that reflects a few metrics for each division that is reviewed each week.
Include your primary KPI for each division but also a goal or a “co-observant metric” that contextualizes it. For example: Lead Volume and Average Lead Score, Won Territories and average Territories Per Deal, Paid Media Spend and Cost per Qualified Lead.
An additional detailed Dashboard for each Division and possibly one for each Team within the Division.
Adoption/utilization reports that helps identify whether team members are using HubSpot. For example: are reps logging meeting outcomes? Are business coaches logging regular calls with your Franchisees? Are people completing tasks and tickets?
2. Do you have good visibility on marketing-sourced leads?
For example:
Where are they best qualified leads that you source from marketing (not referrals, brokers, etc.) coming from?
What you should expect:
You are collecting detailed Source data about Leads including how they first found you and what interactions led to raising their hand and getting engaged. Just “website” or “google” or the vendor is not enough.
You can recognize if the sources result from Paid activities (Google Ads, Facebook Ads, ), Earned activities (mentions, reviews, PR, etc.), Shared activities (social media, franchisee or customer content, YouTube content, etc.), or Owned Activities (your website, mailing list, your direct content, etc.)
You are collecting data about which Vendor activities touched a lead on their journey in addition to the other source properties. Just Vendor is not enough.
How your franchise might do this:
Reports that breakdown new leads by Source Category, Detail, and Vendor.
Reports that breakdown the source of re-engagement touchpoints: how did old leads that re-enter your sales pipeline re-engage?
A Dashboard you can filter by Vendor to any of your marketing Vendor’s total contribution to lead generation, nurturing, and qualification.
3. Do you have good visibility on Broker-sourced leads?
For example:
Which Brokers repeatedly bring us leads that we win? Why do we lose Broker-sourced leads?
What you should expect:
You know which leads are sourced from Brokers.
You can see Broker lead volume changes over time.
Leads are associated with the Broker that brought them to you.
Broker-sourced leads are easily visible and filterable in your sales pipeline.
You can see individual Broker’s win rate and total contribution to Won Territories and Revenue.
How your franchise might do this:
Dashboard and reports that highlight Broker performance over time including lead volume, won leads, and Closed Lost Category.
Views for Reps so they can see (and act on!) all the Broker’s who have brought them leads in the past.
Tags for Deals in your pipeline that distinguish Broker-sourced leads.
A Mini-Dashboard for each Broker.
4. Do you have good visibility on leads that slow down?
For example:
Where do qualified leads tend to slow down in your pipeline? What can you do about it?
What you should expect:
You have real data on how long leads that win spend in each stage of your sales process.
Leads that spend too long in each stage of your process are easy to spot.
Your sales team can identify and act on leads that are spending too long in each stage.
Valid reasons for a slow down (FDD Blackouts, waiting for Discovery Day, etc.) are accounted for.
How your franchise might do this:
Reports that breakdown time in stage comparing won and lost Deals. Review at least quarterly. Segment using tactics (like Source) and characteristics (Audience Profile, Fit Scores).
Tags for Deals in your pipeline that spend too long in each stage.
Tags for Deals in your pipelines that haven’t been touched by a Rep in too long (14 days max).
Views and reports that surface stalling Deals for the Rep that owns them.
Views, reports, and dashboards for sales leaders to surface where Reps need support or coaching.
5. Do you have good, usable intel on leads that you lose?
For example:
Are there stages of your process where you lose a lot of qualified leads? Why?
What you should expect:
You know the real reasons that qualified leads choose not to buy into your franchise and can act on that data.
You know by pipeline stage where you lose qualified leads both by count and percentage and can act on that data.
You can see the breakdown of qualified leads lost through abandonment (ghosting, etc.) versus communicated “No’s”.
How your franchise might do this:
Reports that show normalized Closed Lost Category (Territory, Investment, Fit/alignment with your franchise, Lost to Competitor, etc.). Review at least quarterly. Segment using tactics (like Source) and characteristics (Audience Profile, Fit Scores).
Reports that surface the stage Deals are lost from. Review at least quarterly. Segment by Closed Lost Category, by Rep, by tactic, by characteristics, and by activity.
Reports showing the breakdown of qualified leads lost from ghosting versus those lost for “No’s”. Review quarterly. Segment by all the same dimensions as the other reports. Are the categories changing over time?
6. Do you have good visibility on the leads that you win?
For example:
What is working well right now? Can you put more energy into what’s working?
What you should expect:
You can review the Won Leads in any given month and see at least where they came from, how long it took to close them, and whether they were broker- or marketing-sourced.
You can review all the Won Leads from any particular Vendor.
You can review all the Won Leads from any particular Broker.
You can see total Won Leads, Sold Territories, and Revenue by Source, Vendor, Broker, etc. for any given timeframe.
You can review changes over time in how these dimensions contribute to Won Deals.
How your franchise might do this:
A Won Deals Dashboard with reports that surface all these dimensions and that can be filtered by Closed Won Date.
A dedicated Dashboard for major performance dimensions (Category like Marketing or Broker) and source (Google Paid, Organic, etc.) that that can be filtered by Closed Won Date.
Data and reports on individual Broker Records that surface how their leads perform.
So…Now what?
Well, take these 6 Tests and see how your CRM—whether it’s HubSpot or not—stands up.
See you in the next Lab Report.