Deal Type Definitions?

[rj008]

Curious how folks would use the Deal Type property in our circumstances. We have an advertising business. All purchases are for a single campaign; our customers typically purchase once yearly. 

With regards to the Dealy Type, my thought is that we should apply New Business to any deal associated with an organization that has never purchased from us before, and Existing Business for organizations that have. 

Is anyone with a similar business model doing the same or something different? 

Thanks for your help!

[karstenkoehler · Accepted solution]

Hi @rj008,

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@rj008 wrote:

my thought is that we should apply New Business to any deal associated with an organization that has never purchased from us before, and Existing Business for organizations that have.

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This is a great way to go about it and many HubSpot customers are doing this the exact same way. It allows you to easily filter for new business / existing business deals, create reports to visualize how much of your revenue is from upselling.

I don't see any needs for additional deal types that wouldn't be covered by other properties or by products / line items. For example, if you as an advertising business want to distinguish types of ad campaigns, that would be another deal property. Or if you want to specify the reason for an upselling/crossselling opportunity, I would also create a separate property for that.

Personally, I like the simplicity of the deal type property. It's hard to be misunderstood but powerful in reports.

Best regards!

[hectorv]

With existing customers, there are two types of additional revenue: 

1. Add-on services, project based

2. Contract Renewals

Should there be a 3rd value to separate these? or would you still create existing vs new, period?

[rj008]

Thanks so much, Karsten!