I am the marketing director at our company and long time hubspot enterprise user. I’m struggling with how and when our sales department creates deals. My understanding of a deal is: you create a deal when a contact takes an action that could lead to revenue. However our sales team has been told to only create a deal if the potential sale could be over $10,000. But there is an exception. We are manufacturing reps, so sales management wants a deal created for ANY inquiry about one of the lines that we rep - whether it’s $10 or $100,000. Sales reports are created weekly and monthly and management makes decisions based on these reports. I don’t trust the reports because they don’t reflect the true leads that we’ve received, and won or lost. Is this a big deal? Am I missing something? Any feedback would be appreciated.
Hi @Esselbee318,
This is somewhat subjective, but our agency works primarily in the manufacturing space so I’ll answer based on our experience.
In most cases, reps are entering all new deals into HubSpot, regardless of the size of the deal. Often small deals become “no quotes” anyway, but there is value in reporting on what types of activities are resulting in these types of deals so marketing and sales strategies can be adjusted accordingly. Additionally, small deals can often turn into larger opportunities and when the original deal is added to the CRM, you have a more accurate attribution story.
That being said, often times our clients are not entering repeat deals for existing customers (current production) into the HubSpot CRM if that information is already being processed through the ERP system. For example, customer X already has a contract to produce 1,000 parts per month and now would like to increase to 3,000 parts per month. Usually the updated PO is added to the ERP system in that scenario.
Ideally, your revenue per customer/job is being sent from the ERP to HubSpot so the data is there even when a rep isn’t entering, but that’s not always the case.
Obviously, there are some variables here and it will certainly depend on each business, how they operate, what they’re reporting on, etc. What I have provided are some of the trends we’ve experienced.
Let me know if you ever want to meet to talk through this more in detail.
Josh