HubSpot has become one of the world’s leading customer relationship management (CRM) platforms, which also integrates a comprehensive marketing facility under one roof.
Its all-in-one solution integrates business and social media like Facebook and LinkedIn ad campaigns with blog content creation and even extends to your company’s website analytics for engine optimization search engine (SEO) and Google Analytics results.
Having won an award for Best CRM Platform in 2019, many other platforms offer application programming interface (API) connections to HubSpot, allowing their offerings to be similarly integrated. One such platform is a HubSpot Budgeting Tool and comes from Configure Price Quote (CPQ) software provider DealHub.
CPQ software is an essential tool for any company quoting new business of any kind, as it uses Artificial Intelligence (AI) and a rule-based architecture that takes into account absolutely every eventuality that could affect a quote, especially when there are complex interactions. relationships involved.
Complexities in the car market
For example, imagine your company manufactured auto parts and a giant automaker like Toyota requested a quote for several million indicator switch assemblies. The complexity involved is numbing. Let’s say the switch groups were for a Corolla model car. Some would be on the left side of the steering column for the Australian, UK and right hand drive car markets for driving on the left side of the road, while many more would be on the right side of the steering wheel. , for the rest of the world that drives on the right side of the road.
Then there are complications with the electrical regulations in Europe being different from the US. The list of variables is almost endless and each variable affects the outcome of a quote. It is what is known as a “combinational explosion”. A CPQ platform uses AI to channel and resolve all these potential variables and present the costs and labor time involved in a simple and transparent dashboard, in order to make quoting a risk-free business.
Businesses that don’t use a CPQ platform could find themselves unwillingly evaluating themselves for new business, or perhaps worse, ending up supplying a new customer with little to no profit.
Configure, price, quote and publish!
Once you understand what CPQ facilities offer, it becomes clear why this information should be integrated into a company’s HubSpot account: clarity of quotes integrated into a CRM that can then send those quotes to potential customers interested
One of the most complex quotation frameworks in the trading world is supply chain and logistics – so fuel costs, shipping costs, port charges and container loads move daily. A CPQ platform can even use its AI to provide a degree of predictive analytics; if the trend in Pacific Rim shipping costs has increased by, say, 5% per month over the past few months, the AI can extrapolate that trend to add future price increases to any quote, as long as the human operator specifies it. in the parameters of the rule panel.
Fico Financials
Another candidate for CPQ / HubSpot integration are companies that need to use FICO scores as a basis for offering loans or retail financial products and services. FICO stands for the Fair Isaac Corporation, which developed a method years ago to calculate people’s credit scores in the US, based on information collected by credit reporting agencies. Whether banks and mortgage brokers must offer loans and mortgages, the complexity of people’s FICO scores represented based on their personal circumstances predicts how likely they are to default on the loans they receive. CPQ can mitigate this risk, then HubSpot can send, for example, Facebook ads to attract potential customers with a certain financial demographic. It’s super smart technology that makes business safer for both customers and businesses.
Instant interest on Instagram
Most importantly, the dissemination on social networks The aspect of using a HubSpot CPQ integration is crucial. It’s all well and good to have the most competitive quotes for the best quality products and services in the world, but if no one knows about them, what’s the point? The beauty of the HubSpot platform is that users can specify what type of product or service ads appear on which social platforms.
Consequently, an ad with images of women’s clothing will be received much better on Instagram than on LinkedIn; an ad for a resume writing service is definitely not going to be the hottest topic on Insta with all these influencers! Once your CPQ software has determined the price and availability of any product or service your organization offers for sale, your HubSpot can email quotes, help you with ad creation, run tests A/B on ads, helping creatives write blog and web copy. send newsletters to subscribers and the like.
Think of CPQ as a turbocharger for your company’s HubSpot; not only will your marketing be effective, but the price behind your offers is sure to be accurate.
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