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Can My Company Afford HubSpot?

Mackenzie | May 31, 2022 | Hubspot

If your company is shopping around for a new CRM, chances are you've come across HubSpot. You've probably also seen a lot of other competitors like Salesforce, Marketo, Sharpspring, and more.

But as you work to evaluate each of those options, for most companies, one of the biggest deciding factors is going to be cost. We've discussed the REAL cost of HubSpot in another blog, but this piece is meant to follow that one up with some practical advice regarding whether your company can actually afford that real cost of HubSpot.

Here, we're going to crunch the numbers and take a serious, unbiased look at whether HubSpot is truly a match for your company, or not. 

Can My Company Afford HubSpot? How to Calculate an Answer in 3 Steps

First things first — how much do you think you're going to spend on HubSpot? To understand whether your company can afford HubSpot, it's good to nail down what subscription and tools you need first.


Step 1: What HubSpot Subscription Are You Looking At?

HubSpot does a ton of studies on their user retention, and they've found that the HubSpot users who are most likely to stick with the system are the ones who start off with the right tools. If you're new to HubSpot or could use a refresher on what those tools are, check out What is HubSpot? for a complete breakdown. 

For Example: 

  • Don't start with HubSpot Starter if your company truly needs Enterprise-level tools. That will just set your team up for disappointment, and it's often wasted time and money onboarding employees to the tools that aren't actually going to work for them.
  • On the other hand, don't buy HubSpot Service Hub if what you really want is just HubSpot Marketing tools. While all of those operations tools are useful, if your team doesn't have the time to invest in learning and using them, that's money you're wasting. 

If you're not sure which HubSpot tools your company truly needs, we always recommend connecting with a HubSpot Solutions Partner first. As Solutions Partners, we're able to give you some unbiased advice on which HubSpot services, tools, and tiers are going to be the best fit for your company's goals. 


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Step 2: How Much is Each Customer Worth To You?

Once you have a ballpark of how much you'll spend on HubSpot (Remember, don't forget to factor in time for training, onboarding, implementation, and, support), it's time to consider how much a customer is worth to you.

What's the lifetime value of your company's average customer? What is a closed-won deal worth to your company? 

Maybe it's $1,000 or maybe it's $10,000. Either way, having that customer lifetime value handy will help you calculate how many leads and closed deals you need to be able to comfortably afford HubSpot.

 

Step 3: How Many New Customers Do You Need to Cover the Cost of HubSpot?

With that customer lifetime value in hand, you should be able to calculate this next number relatively easily.

If your HubSpot subscription is $5,000 a month, and each new customer is worth $10,000, then you only need to get a new customer every other month to cover your HubSpot costs.

Now, when you do the math with your own numbers, figure out how many new sales you'd need on a monthly basis, and then ask yourself — is this something my company can reasonably do?

Can we reasonably close that many new sales each month? 

If the answer is yes, then congratulations, HubSpot is a great investment for you! In fact, most of our customers who invest in HubSpot see returns well beyond their initial investment. 

If the answer is, well, that might be a stretch, we invite you to:

  • Revisit the tools you're investing in, and make sure you have all the tools that are essential to your company's growth goals. 
  • Invest in HubSpot. As I mentioned before, when companies truly invest their time and effort into setting up HubSpot properly, most see exceptional ROI from the platform.

If the answer is no, then HubSpot might not be right for you at the moment. If the numbers you crunched seem way outside the realm of possibility, it's possible that HubSpot isn't right for your company — it can't be right for everyone.

That said, we always encourage prospects to look into the free Starter version of HubSpot. If those tools are right for your company, it's possible to make some remarkable improvements just using the free tools that HubSpot has on offer.

 

Can Your Company Afford NOT to Invest in HubSpot?

At the end of the day, while HubSpot isn't right for every company, it does provide the robust tools, tracking, analytics, and results that most companies need to realize significant growth.

Take a look at some of these stats from HubSpot themselves:

ROI of HubSpotCRM Platform

After just one year, companies using HubSpot saw an average increase in website traffic, inbound leads, and closed-won deals. What's more, customers who invested in more tools saw a greater return on that investment.

Deals Closed-Won By Product HubSpot ROI

And these are just the stats for closed-won deals! For more information on the ROI of HubSpot, we recommend checking out our blog What's the ROI of HubSpot. We've got a breakdown of HubSpot's entire report, with info on client results in traffic, inbound leads, closed-won deals, and even overall revenue.



These stats make it clear that most who are investing in HubSpot are truly seeing some targeted, measurable results.

But, if you're still on the fence about the cost of HubSpot, or if you know it could make a difference, but are worried about the cost, it's always best to talk to a HubSpot Solutions Partner. We work with clients in HubSpot every day, and we have a pretty good handle on what's a fit, and what's not. 

Let's Talk HubSpot!

If you're not sure that your company can afford HubSpot, or if you're having trouble accurately assessing the cost of HubSpot for your company, get in touch with Evenbound. As a HubSpot Platinum Solutions Partner, we can help you figure out your cost per customer, set a reasonable budget for HubSpot based on your goals, and then give you an honest assessment of whether HubSpot really is best for your company. 

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