We use a deal to represent a current client. But we also want to be able to report on renewals and upsells from the current book of business. Any suggestions on what the best ways to use Hubspot to accomplish this? My thought is to have a pipeline for “client success” and pipelines for “renewal” and “upsell”. But then how would we be able to report on the renewals and upsells that occur from that client success deal?
Hi @SSladnick
I’d say you are on the right track by considering different/additional pipelines.
There is also the option of using HubSpot’s default “deal type” property. This gives a broad distinction between net new business and repeat business.
Coming back to the multiple pipeline approach do you have a rough idea of the following:
- number of total new deals
- number of renewals
- number of upsells
You mentioned a pipeline for client success, what would the difference be between deals in that and deals in renewals and upsell? I don’t know what you sell, what the sales and renewal cycles are, and what your reporting requirements are. To me client success (is that similar to customer success?) would a source of a deal, whereas renewal and upsell are what I would call sales motions or sales plays.
From experience, I’d suggest pipelines represent a particular sales process/motion and deal source/deal influence should be covered by deal property. My favourite setup so far was the following:
- New Business Pipeline
- Renewal Pipeline (using workflows to create renewal deals based on closed won deals and their “expiry dates”, so renewal deals get created x-days before a renewal is due)
- Additional Services (this was consulting business sold on top of a normal contract, i.e. implementation or professional services)
- Upsell (Anything else that the customer is buying whilst in contract, i.e. upgrades, subscription tier increase, etc.)
- Downgrades
Hope that helps, happy to dive a bit deeper if you can share some more details on your processes and business.
Frank
Frank, Thanks so much for the response!
While Im not entirely sure on the count of deals in each pipeline, I do know that we currently dont have visibility into renewals or upsells. Each month I believe we have around 100 new deals in our pipeline for current business.
I was thinking that “client success” would represent the services that we’re providing to a current customer, while “renewals”/“upsells” would be able to track the sales motion
And I see what you mean by using deal type and deal source to be able to report on those for the renewal and upsell pipelines.
What is the value of a distinct renewal pipeline? If we are doing a 1:1 renewal, could we just use the existing deal in the client success pipeline to represent that?
Our goal is to be able to forecast incoming sales, as well as to be able to track the success of a client by being able to see which renew, which we can upsel (and by how much), etc.
Frank, Thanks so much for the response!
While Im not entirely sure on the count of deals in each pipeline, I do know that we currently dont have visibility into renewals or upsells. Each month I believe we have around 100 new deals in our pipeline for current business.
I was thinking that “client success” would represent the services that we’re providing to a current customer, while “renewals”/“upsells” would be able to track the sales motion
And I see what you mean by using deal type and deal source to be able to report on those for the renewal and upsell pipelines.
What is the value of a distinct renewal pipeline? If we are doing a 1:1 renewal, could we just use the existing deal in the client success pipeline to represent that?
Our goal is to be able to forecast incoming sales, as well as to be able to track the success of a client by being able to see which renew, which we can upsel (and by how much), etc.
Thanks for the solution, @franksteiner79.
What would be your suggestion for a Hubspot Account on a Starter plan? We only have 2 pipelines available, no custom reporting, and no workflows. 