Best Procedures For Tracking Recurring Deals?

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Occasional Contributor

How does your organization track deals that renew year to year or a deal that comes about specifically from another deal?

 

A little bit of background, I work for an EdTech company and currently we create separate deals each year for our schools. Most of the information is the same, so our sales members have to re-enter a lot of data and I've created a special field for them to enter the related Deal IDs.

 

I think a feature that would allow sales teams to clone deals would be the perfect solution - but I understand this isn't currently possible. How does your company track recurring deals? In HubSpot or elsewhere?

 

This is my first post in the Power User Community and I'm excited to hear your feedback. (Also, please forgive me if I posted this in the wrong section).

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Regular Advisor

Hey @dhills,

 

Great question and I've seen it done a few different ways:

 

  1. Creating a separate pipeline for renewal tracking, we've done this via Automate.io to recreate deals based off of a "Renewal Date" on the deal that the rep updates based on the contract.  We needed to use Automate.io as HubSpot can be wonky with creating deals from workflows after the first renewal.

  2. A more complex solution via the API for a "Renewals Pipeline" with stages for "X-Day Trial", "Active", "Paused", "Cancelled".  This one is a bit more custom as it integrates with their software based on subscription status.  But thought it might be helpful for context.

Hope I'm able to give a bit of insight!

Chris Bryant | Your Dedicated HubSpot Expert
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Occasional Contributor

Hi @Bryantworks,

 

Thank you for your solutions, they're very helpful! The first option is the most appealing to me, have you ever tried doing in Zapier? I've used both Zapier and Automate.io and I'm curious if there is one you'd prefer over the other for this task.

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Regular Advisor

Hey @dhills, I've used both before and don't have a strong preference for one over the other.  I just used Automate.io as I already had a personal account with them Smiley Happy

Chris Bryant | Your Dedicated HubSpot Expert
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Occasional Contributor | Diamond Partner

What I would recommend in this scenario is to create a pipeline called "Renewals" and have renewal deals live there.

 

As for cloning deals, there is no native HubSpot function, but my team created it Smiley Happy You can install it here! https://www.revenueriver.co/revlabs/duplicate-deal

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Occasional Contributor

Hello!

 

I think staying in the same pipeline would be the best, but I'm not really an expert at sales pipelines.

 

But now talking about clone deals you can create all the deals properties at contact too (in a hidden place so no one needs to see) and then create a workflow to transfer the first deal properties to the contact.

So when you create another deal you can set up another workflow (yeah, I know this is not getting beautiful) to transfer the contact's properties to the new deal. As you cannot create a workflow to transfer deal-to-deal properties this may help.

 

Best,

Felix