Every business owner may have different marketing strategies, as business models vary dramatically. However, every company shares the same goal - to find and convert leads into customers. In this blog article, you'll learn how HubSpot lead status management tool can help you achieve your goals by providing a unique view of your pipeline.
HubSpot is a software with a lot of uses across various industries. One way it has been used is in the field of sales and marketing automation, which can help you manage your sales process like never before!
In this article, we'll cover: what hubspot lead status means, how HubSpot can help you utilize it to keep your leads on track and manage your sales process easier.
Hubspot lead status is a term used to describe the level of interest that your potential customers have in engaging with you. The main objective behind lead status is to determine if an individual has shown any signs of being interested in buying your product or service, and also how much they are willing to pay for it.
When it comes down to determining whether someone should be considered as a lead or not, HubSpot utilizes its Lead Status feature which can help you classify leads based on their behaviors within the sales process. Here's what each type means:
1. Unqualified Leads: This category corresponds with leads that have yet to engage with your sales team. These are people who may be interested in buying a product or service, but you haven't reached out to them at all and they don't know about it.
You're not able to use this category for lead nurturing as the person is already aware of what's being sold by you (unqualified leads)
2. Qualified Leads: This status means that someone has engaged with your company through some sort of interaction like an email campaign, phone call or webinar. They've shown interest in purchasing something from you and now want more information on how to get it.
3. Ready To Buy: These are the most valuable leads as these individuals have taken a step forward in the sales process by contacting HubSpot directly!
You'll know this because of an email response or phone call where someone says "yes" when asked if he/she is interested in buying something from you.
4. Prospects: These are people who haven't yet taken any sort of action towards purchasing a product or service from you, but HubSpot has identified them as someone who might be interested in doing business with your company once the sales process gets underway (prospects).
The reason you should use lead status in your sales process is because of the difference it makes for each stage.
Leads that are unqualified have no interest in doing business with you, so why would they want to hear more from a company who has nothing new to offer them? They're better off just ignoring any emails or phone calls from your sales team and moving on.
This is what leads do when their needs aren't being met by an organization's product/service offering (unqualified leads). If this happens often enough, then these people will stop responding at all which means that you're losing out on a lot of qualified leads.
This is why it's so important to make sure that you only send your sales team out after they've been able to provide the right information and advice for each stage in the sales process!
Prospects are also uninterested because their needs aren't yet being met by an organization's product/service offering (unqualified prospects).
Prospects will often be interested, but only if they have taken some sort of action towards purchasing something from you first (prospects), which means that these people still need more information on how exactly your product/service can help them.
When you use lead status in your sales process, then prospects will be interested because they are aware that they haven't yet taken any sort of action towards purchasing something from you (prospects).
This means that the information and advice provided by your sales team is relevant to their needs right now which makes it more likely for these people to take some sort of action! This is why using lead status in your sales process results in higher conversion rates than those who don't use this tactic.
Here are some things you need to know about Lead Status:
1. It's a HubSpot product- It is not something that your business can purchase for their own use. You will have the opportunity to configure it, but once configured, you must continue using it in order to receive any lead information from HubSpot or anywhere else that uses Lead Status.
This includes other CRMs and sales tools such as Salesforce or Marketo. If you decide later on that this tool isn't right for your company (for example if leads aren't coming through consistently), then there would be no way of changing your configuration.
2. It's a CRM tool- Lead Status is designed to be used in conjunction with HubSpot's own CRM, which means that you'll have access to all of the data and functionality from your whole account if you're using this system for leads only (meaning no other contacts or clients).
It will also allow you to easily import new contacts into it as well, so there should never be any confusion about who has been assigned what lead status.
3. Lead Status is not an automated follow-up process- Like Salesforce Flow or Marketo Engage , but rather something that you can use to manage and engage with leads in HubSpot's system.
It doesn't track all of your contacts, only those that have been assigned lead status.
This means that if someone is not a customer or client but has the same email address as one who does, they will be tracked under their primary contact (if it's different), rather than being added as a separate account for this particular person.
You should always include Lead Status information within any emails sent out regarding new opportunities or sales proposals. If you don't, then prospects may see them without seeing anything else about them in the HubSpot system.
Hubspot Lead Status is a great way to manage your sales process and track leads' progress. It will allow you to follow up with leads, keep them updated on the status of their opportunities or proposals and also provide an easy tool for managing meetings.
Lead Status is also a great way to keep track of your entire account, rather than having each individual contact or client tracked separately. This should help you in the long run as it will allow you to see how many leads are within different accounts and which ones have been assigned lead status.
It's important that all HubSpot sales representatives use this tool for their own records so they can easily manage meetings with prospects.
It will provide them with an easy place where they can quickly find out who has already seen their email, who hasn't and what action needs to be taken on any particular prospect or client.
The best time to use the Lead Status feature is when you're working on a new opportunity or proposal, which will be assigned lead status and then tracked within your HubSpot account.
For example: If you are sending out an email regarding a potential sale that has been generated from one of your campaigns (such as "We've received over 100 qualified leads for this project"), make sure it also contains information about what type of contact they have - either customer or client.
This way, if someone doesn't respond to the initial email , they can be added to your lead status list.
If you're following up with a particular client or prospect, make sure that the email contains information about their account and what type of contact it is - customer or client.
This way, if someone doesn't respond to your initial emails (or any other follow-up), they will automatically become part of the Lead Status list for that specific account.
According to Hubspot’s definitions, you can categorize your prospects in three different stages of the business:
Stage 1 : In this stage , they are either 'Informed' or 'Problem Solving'. Generally, if a sales team has set up their email template for a prospect in Stage 2 and sent them an email with a template that matches the problem solving category.
It is impossible not to get a response from them. Therefore, he would be categorized as Informed in this stage.
Stage 2 : If the lead campaign was successful (that means received one or more responses from them ), then the lead would be categorized as 'Prospect'.
Stage 3 : If there was no response from them, they are now in this stage . In this stage , you can use two different categories: Problem Solving or Unresponsive.
This is where your team should stop sending emails to a prospect and start using other marketing channels such as social media to get their attention again - because if they're not going to respond on email, chances are that they won't respond at all.
In the previous section we saw how to use Lead Status and Lifecycle Stage in HubSpot. In this part of the tutorial, I will show you how these two fields are used by different teams within your company. Lead Status is a field that shows whether or not an account has been opened for a lead (or contact).
If it says “Open” then that means someone from your team may be looking at them as potential customers, but they haven’t yet made their decision about what action to take next with them.
This could mean one of three things:
This field can be used in any stage within the lifecycle: at first contact, when new prospects come into view, after you've decided that it's worth pursuing, or after you've closed the account.
Life Cycle Stage is a field that shows what stage your lead (or contact) is in within their lifecycle on HubSpot: New Prospects are leads who have never been contacted before and haven't yet made up their minds about whether they want to be customers of yours.
They're still very much in the prospecting phase of marketing; not ready for action just yet but at least open enough to consider making a purchase from you.
Closed Accounts are leads that were previously prospects, but have now decided against buying anything from you - either because they've found a better deal elsewhere, or because they simply don't want to.
You can use this field if you're looking for leads that have been rejected by marketing and are awaiting approval before being sent live on your website - it's not used as frequently as the other two fields though, so remember to check with your sales team about how you should be using it.
