Unlock the Power of Deal Pipelines for Technology Industry

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hey everyone it's Delaney senior inbound marketing specialist at Hive house digital today I'll be walking you through how to set up a deal pipeline in HubSpot deal pipelines help you visualize the different stages of the buying cycle a prospect takes and helps you measure the probability that you will close let's get into it so to either edit or create a whole new pipeline in HubSpot what you're going to do is click on the gear icon at the top and then scroll down and find deals from this objects drop down menu then at the top you have these different tabs you're going to click on Pipelines and you can see in this uh this is one of our test portals we have two default pipelines we've got sales and the Salesforce for the purposes of this tutorial we're going to show you how to create a brand new pipeline but if you have a default pipeline already in your HubSpot account you can basically follow the same steps and just edit it so what we're going to do is click on create a pipeline and I'm going to name this Tech tip Pipeline and create the pipeline so what you first want to do is scroll down and let's configure this pipeline so this has some example stages already in it but this is really going to vary based on your sales process so before you create the pipeline in HubSpot you really want to sit down with your sales team and determine the different stages that make sense for your process so let's say that before you even have an appointment scheduled you want a stage called qualified leads all you have to do is click on an existing stage name and name it qualified and this is assuming that you haven't used the pipeline yet so we renamed it qualified leads uh maybe we want to change the deal probability we can go ahead and change that to let's say 10 percent and then after that let's say we don't need this qualified to buy we can go ahead and just delete that and then let's say if you want to change this stage from presentation schedule to Discovery call completed and let's say we want to change this to 20 let's say 30 probability and then we're looking at the other default stages let's say decision maker Bowden we don't need that let's delete that um and then contract sent let's change this to proposal sense because let's say we call it proposals instead of contracts just change it to what makes sense for you and let's say we want to change this to let's just say 60 probability so you've got qualified leads Discovery call completed proposal sent and then you have your closed one and lost um but maybe there's another stage that you want to add in here let's say we want to add a stage we go to the bottom click add sage and let's say we want to have all of our sales people maybe assess something prior to the Discovery call so for our case we would be assessing marketing so let's name this marketing assessment completed let's change that typo and then on the left hand side there's all these little dots you can go ahead and click that to drag and drop the stage name to where you want it to be I'm going to leave this deal probability at 10 because that's not really changing the deal probability it's just kind of an internal step in the sales process and one thing we recommend to all of our clients is having your deal stage names in the past tense that way there's no confusion over whether or not the deal stage is for something that's supposed to happen in that stage or something that has already been done um so we want to make sure that all of our stage names are in the past tense we're good there um then we want to just review the deal stage probability and make sure it makes sense this is something you can always change um as you go through your sales process and just noticing whether or not does 60 really make sense should it be 70 80 should it be lower um you can always add more stages in as you go that makes sense then you have your next column this is editing access and that determines who can edit deals at that deal stage so the default is users with access to Deals you can always limit it to just super admins if you want and finally the last column we have over here is update stage properties and this will be for what's what things need to be updated when the deal moves into that stage so this can there are so many different examples for what properties could be updated at different stages but let's give a few common examples so when proposal is assent maybe we want to have the proposal submitted date added to the deal record we're going to go ahead and have that and then we're going to make that required another example is when deals are closed one or lost so you can go ahead click edit properties and let's add the close date and the closed one reason and make those required and then we have closed lost we can go ahead and have the closed lost reason so we've updated our stages we have the deal probability set we've determined if we need to change editing access and then we've added these properties we want updated at each stage it's really really important at this step you want to make sure you click save or else nothing will be saved all of the work you just put in will not be saved and you will have to redo it so make sure you always click save the next tab you want to click on is automate and so this is kind of like a simplified version of the workflows tool and you can add simple tasks or emails once the deal enters that stage so so for this example let's say that after you have a qualified lead you want to set a task for the salesperson to create to complete the marketing assessment you're going to click on create workflow and then on the right hand side you can choose from various tasks there's create tasks and internal email notification as well as several other different tasks you can do or different different actions you can set but for this we're going to go really simple we're going to create a task and we're going to call it complete marketing oops marketing assessment it's a to-do you can also you know there's different types you can set up um we're going to say we want it completed within three business days you can also create a custom reminder let's say in two days we want a reminder set you can add a different notes if you need um you can associate it with the company records you can make sure it's added to a task queue you can do a priority let's make this medium and then you can assign the task to a specific user or an existing owner of the deal I'm going to go with an existing owner of the deal and I'm going to go ahead and click save there are so many inherent things you can do with this tool it could be a whole other Tech tip some other examples would be creating tasks like after discovery call is completed make sure to make a task for assigning The Proposal after the proposal is sent you can set up tasks to follow up with the prospect after the proposal is sent um there are so many different things you could do here but we're going to keep it simple just for this example so the tab you want to go to after that is deal tags now I already have some set up that um can apply to all different pipelines so that's why they're showing up here and so because I already have some set up you're going to want to go and click on manage deal tags and this is where you can modify them so for this example we've got tags for small deals medium deals and large deals and this will color code your different Pipelines to uh so you can identify them on the deal board so just for an example I'm going to go ahead and delete this large deal I'm going to delete it and we're going to rebuild it so what you do is you click on ADD tag you're going to name it so I'm going to say a large deal you can go ahead and add a description if you want and then pick a color I'm going to choose red and then you can choose if it's for all pipelines or specific pipelines I'm going to do all pipelines then click on ADD filters and this is how it will determine what tag your deal will get so I'm going to do amount is greater than ten thousand dollars then we're going to click review tag and then it will show you how it will show up on the deal card and review everything and then click save so now I have a small medium and large deal set up to tag and color code our different deals so the last thing we might want to go over is customizing the deal card so it's under this board customization which you can also customize deal tags from here you can click on the deal card and this is going to customize how it shows up on the pipeline so for now it shows the deal name the amount and the close date you can add different things like maybe you want to add the owner you can go ahead click on Deal owner you can add up to four properties I found if you add the max amount of property sometimes it won't show your deal tags so that's something you'll want to keep into consideration for now I'm just going to keep deal uh the deal amount and the close date and then go ahead and click save all right so now that we've gone through how to set up a pipeline I went ahead and I created a couple example deals in uh HubSpot so we've got Tech to appeal1 and Tech tip deal number two we've got the amount the close date it will also show you the recent activity and any tasks do as well as the deal tags now sometimes it takes a little bit of a delay for the deal tag to show up so if you don't see it right away don't be concerned sometimes it just takes a little bit of time for HubSpot to show it so let's go ahead and create a deal together I'm going to go ahead and click create deal we'll name this Tech tip deal three and then we'll have this uh you can choose the pipeline it should default to the pipeline you're already on but you can always change that if you have more than one then you've got the DL stage so I'm going to leave that at qualified leads but let's say you already completed the marketing assessment you can go ahead and change that here for the amount let's say we want it to be 5 600. you can always update the close date so let's say we want it two weeks from today you can go ahead and change that you can change the deal honor it's going to default to you whoever's creating the deal but you can always change that if you need you've got the deal type um if you want to add that you can always also this is a whole other Tech tip but you can also customize the different fields you see on this screen um so this might look different for you and then lastly we've got priority if you want to add that and then finally you have associate the deal with so this is adding the contact and company that your different deal records are associated with for the purposes of this tutorial I'm just going to add myself as the contact UM and then I'm going to go ahead and click create and when you click create it's going to bring you to the deal record but you can just click on deals over here and go back to the pipeline and you can see the deal we just created is right here under qualified leads and you can kind of see how um this should show medium deal but it's taking a little bit of time for it to show up um so just keep that in mind um and as you move through the different process of the deal pipeline what you can do is click and click on this card and then drag and drop it to the different stages so now it's in marketing assessment let's say we've kind of already had our Discovery called completed and then we have sent the proposal we drag it over and then a pop-up is going to show up to update this property we're going to click on today's date click on next and now that property has been updated so when you have a bunch of deals on here you can go ahead and use different filters by a deal owner the create date other Advanced filters like a mount um anything you need to kind of filter this down if you need at the bottom you'll see the total amount that the deals amount to so for proposal sent we've got 17 600 in there and then we've got the weighted amount so that is based on the deal probability so that that 10 560 is 60 of the anticipated closed amount so that is a quick run through of how to create a pipeline in HubSpot and how to use those deal cards in the pipeline I hope you learned something from this Tech tip don't forget to like And subscribe and we will see you for our next tech tip bye