Jan 13, 2021 9:09 AM - edited Jan 13, 2021 9:10 AM
Contacts and companies are two sides of the same coin. Think of companies as an added layer of information about your contacts. Company properties store information such as industry, annual revenue or company address.
HubSpot isn't asking you to make a decision whether you're selling to an individual person or to a company. It's really just an extension of the information found on the contact record – the only difference being that a company can be associated with multiple contacts (while contacts can't be associated with multiple companies). This association can be automated: https://knowledge.hubspot.com/crm-setup/automatically-create-and-associate-companies-with-contacts
HubSpot also has a neat feature for company records called HubSpot insights, pretty much free research on the companies associated with your contacts: https://knowledge.hubspot.com/companies/hubspot-insights-on-company-records
Of course, you don't have to use them. If you do, some more options open up to you in reporting, list building – and potentially further down the line if you decide to upgrade (workflows, lead scoring etc.).
Hope this helps!
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