⚙ Operations Hub

LSchubert8
Participant

Updating Renewal Dates in Hubspot

SOLVE

I'm currently looking for a smart way to update the renewal dates for subscription products. 

Our set up is the following: 

- our sales team sells SaaS products as well as one of products using Hubspot, we currently do not create renewal deals in Hubspot, only if there is an up/downsell

- For CS and the renewal management we use Vitally, within vitally the renewal dates for each subscription period are needed. Once a deal is closed, the information from the deal is moved to a custom object (which the CS team works on, representing accounts)  
- we use a billing tool that handles our recurring billing 

Currently I am thinking of enrolling deals after the first term ends (which we track with two custom properties: contract start date and contract end date), to populate two other fields: current subscription period start and current subscription period end as well as a tracker that keeps increasing when the deal is renewed. 

We do not want to create renewal deals since we had some negative experience with this in the past (too many deals with customers that renew several times with different products).

Anyone ever set up a process for this with a similar set up? Happy to get any tips or ideas


0 Upvotes
2 Accepted solutions
LouiseHare
Solution
Top Contributor | Partner
Top Contributor | Partner

Updating Renewal Dates in Hubspot

SOLVE

Hi @LSchubert8 ,

 

Thanks for providing further context. For the solution that I have in mind to work you will need Operations Hub - do you have it?

 

If you do, here is what I would do:

  • Create a Deal-based workflow where the enrollment trigger is:
    • Current Subscription end date is more than 1 day ago (this means the workflow will only trigger 1 day after the subscription ends)
    • Subscription Deal is equal to True
    • Recurring revenue inactive date is unknown
  • I would then turn on re-enrollment for each of these properties, so that the Deal can re-enroll the next time the subscription expires
  • I would add the Format Data action and choose property to format as Current . I would add the below details
    • FYI I'm assuming that a new subscription lasts for a year, but you can edit this if not

Screenshot 2024-02-19 at 15.56.26.png

  • I would make sure that the Yes, save the value into a property option is ticked and then set the property to copy calue to as the Current subscription end dat

Screenshot 2024-02-19 at 15.57.52.pngScreenshot 2024-02-19 at 15.59.13.png

 

This means that when a Deal is enrolled in this workflow, the Current subscrption end date will increase by 365 days.

 

Hope this helps. Let me know if you have any further questions!

 

LouiseHare_0-1708276465605.png

Louise Hare she/her

Freelance HubSpot Specialist 

Want to chat HubSpot?

LouiseHare_1-1708276465607.png

 

If my reply helped to answer your question please mark it as a solution to make it easier for others to find!

View solution in original post

0 Upvotes
louischausse
Solution
Key Advisor | Platinum Partner
Key Advisor | Platinum Partner

Updating Renewal Dates in Hubspot

SOLVE

We've built a Recipe to handle Renewals. A Recipe is a small process that you can install in your HubSpot portal. This doesn't require any third-party tool.

Here's a video of how it works:

louischausse_0-1709664022069.gif

 

 

 

 

 

Renewal deals are created automatically for each closed-won deals with a known contract end date. Then, a task is generated with a reminder date XX days before that contract end date to notify the deal owner (or another user of your choice) that the renewal is coming soon.

 

Other settings and configurations are also available to suit your use case.

 

If you are interested, we can have a chat to setup this recipe on your HubSpot portal.

 

Learn more here

Louis Chaussé from Auxilio HubSpot Solutions Partner Signature
Louis Chaussé from Auxilio HubSpot Solutions Partner Meeting link

View solution in original post

0 Upvotes
4 Replies 4
louischausse
Solution
Key Advisor | Platinum Partner
Key Advisor | Platinum Partner

Updating Renewal Dates in Hubspot

SOLVE

We've built a Recipe to handle Renewals. A Recipe is a small process that you can install in your HubSpot portal. This doesn't require any third-party tool.

Here's a video of how it works:

louischausse_0-1709664022069.gif

 

 

 

 

 

Renewal deals are created automatically for each closed-won deals with a known contract end date. Then, a task is generated with a reminder date XX days before that contract end date to notify the deal owner (or another user of your choice) that the renewal is coming soon.

 

Other settings and configurations are also available to suit your use case.

 

If you are interested, we can have a chat to setup this recipe on your HubSpot portal.

 

Learn more here

Louis Chaussé from Auxilio HubSpot Solutions Partner Signature
Louis Chaussé from Auxilio HubSpot Solutions Partner Meeting link
0 Upvotes
LouiseHare
Top Contributor | Partner
Top Contributor | Partner

Updating Renewal Dates in Hubspot

SOLVE

Hi @LSchubert8 ,

 

Think I need a little more claification to be able to help you out here. 

 

My understanding of how you have setup HubSpot so far is:

  • When a deal is marked as Closed Won, a custom object record is created. The relevant properties from the Deal are copied to this custom object record - including Contract start date and Contact end date
  • The CS team then work with these custom object records

 

So my questions are:

  • What is the different between Contact start and end and Subscription start and end propties?
  • How do you know if a Deal needs to be renewed? Presumably not every deal will be
  • What do you want to happen on a Deal once it is renewed? Do you just want the start and end date ot be updated? Or does it need to move to a different deal stage?
  • What do you mean by the following?: 'a tracker that keeps increasing when the deal is renewed'

Look forward to hearing back from you!

 

LouiseHare_0-1708276465605.png

Louise Hare she/her

Freelance HubSpot Specialist 

Want to chat HubSpot?

LouiseHare_1-1708276465607.png

 

If my reply helped to answer your question please mark it as a solution to make it easier for others to find!

0 Upvotes
LSchubert8
Participant

Updating Renewal Dates in Hubspot

SOLVE

Hi, 

the custom object already exists before and is linked to the deal when closed. All information is moved from deal to custom object once the deal is closed and all available information on this custom object is pushed to our CS Tool. 

We want to keep the information on what the initial contract start and end was for each specific deal, which is why we want to have other properties where we track when the current subscription period starts/ends. 
Deals have a property called "subscription deal" which has the value "true" if its autorenewal. If the deal has no recurring revenue inactive date by the time it reaches the renewal date, we renew the deal/we do not cancel billing. 

The deal can stay in its current stage once it renews, we only need to update the subscription period details 

Bya "a tracker that keeps increasing when the deal is renewed", I mean that I want to create a property with a count that increases each time the deal is pushed for renewal

0 Upvotes
LouiseHare
Solution
Top Contributor | Partner
Top Contributor | Partner

Updating Renewal Dates in Hubspot

SOLVE

Hi @LSchubert8 ,

 

Thanks for providing further context. For the solution that I have in mind to work you will need Operations Hub - do you have it?

 

If you do, here is what I would do:

  • Create a Deal-based workflow where the enrollment trigger is:
    • Current Subscription end date is more than 1 day ago (this means the workflow will only trigger 1 day after the subscription ends)
    • Subscription Deal is equal to True
    • Recurring revenue inactive date is unknown
  • I would then turn on re-enrollment for each of these properties, so that the Deal can re-enroll the next time the subscription expires
  • I would add the Format Data action and choose property to format as Current . I would add the below details
    • FYI I'm assuming that a new subscription lasts for a year, but you can edit this if not

Screenshot 2024-02-19 at 15.56.26.png

  • I would make sure that the Yes, save the value into a property option is ticked and then set the property to copy calue to as the Current subscription end dat

Screenshot 2024-02-19 at 15.57.52.pngScreenshot 2024-02-19 at 15.59.13.png

 

This means that when a Deal is enrolled in this workflow, the Current subscrption end date will increase by 365 days.

 

Hope this helps. Let me know if you have any further questions!

 

LouiseHare_0-1708276465605.png

Louise Hare she/her

Freelance HubSpot Specialist 

Want to chat HubSpot?

LouiseHare_1-1708276465607.png

 

If my reply helped to answer your question please mark it as a solution to make it easier for others to find!

0 Upvotes