Attracting leads and successfully converting them into paying subscribers is not an easy job. It consists of a lengthier journey in which the marketing department plays a significant role. It creates an effective marketing pipeline that not only attracts but is also capable of nurturing leads with relevant content so that when it reaches the sales reps, they won’t have to invest extra efforts.
However, when it comes to managing the subscription, invoice generation, and payment collection, the sales team has little to no contribution since the queries are being handled by the support teams, and because of this, the converted lead leaks throughout to cause massive churn. Hence, the solution to this is to integrate the HubSpot Sales CRM with Subscription management software.
Here in this article, we have provided a detailed account of how the sales team collaboration with the subscription management team and can help in revenue retention. On top of this, Stripe HubSpot integration can empower your subscriber to pay the invoice generated by the HubSpot Subscriptions system.
Benefits Of HubSpot Integration with Recurring Billing and Payment Collection Software
Like we said above that, the sales team can play an important role when it comes to retaining or selling new services and packages to the registered subscriber. And, to do so, they need tools and information on subscribers that are collected via the subscription management software, marketing, and support team. Only then they can put their best foot forward. In addition to this, there are many benefits that you can enjoy once you integrate a Sales CRM with your recurring billing and payment management system, some of them are mentioned below.
- HubSpot Stripe Integration – the best benefit it can offer to the users is payment collection and communication ease. Since the data on leads or contacts is synchronized with the system, sales reps can use this information to create new quotes by reaching out to subscribers who have discontinued their plans due to payment problems. Moreover, it empowers the subscription business to expand its subscription services beyond the border and also collect payments in multiple currencies.
- Dunning Management & Sales Reps – The prior one is the process in which subscription software follows an automated workflow to communicate with the subscriber for pending payment or credit card information update. This consists of a series of messages sent via email and notification before canceling the subscription. However, when HubSpot Sale CRM is fully integrated, it enhances the capacity of a business and provides tools e.g., call, message, live chat, email, etc. to communicate with subscribers and proactively collect pending payment. In most cases, it is proven to be beneficial and ensure maximum revenue collection.
- Sales Automation & Subscriber Retention – Besides, the dunning management, it also automates the sales process ranging from lead allocation to scheduling content for lead nurturing. Also, subscription businesses can use sales CRM to retrieve the lost subscriber, upsell and cross-sell service plans along with coupons and ads-on to the existing subscriber. This increases customer satisfaction since every communication is personalized and done at the right time when the subscriber wants.
- Deal Management & OrderManagement – Lastly, the huge benefit that the integration offers are deal and order management from one platform. For subscription businesses that are either offering services on subscription or product boxes, this feature helps a lot. Wondering how? Well, the simplest answer to this is, it allows the subscription team to manage special deals, coupons, or tailored offerings from one dashboard, set custom rules from the expiry date to the utility rules, etc. For Subscription boxes, the system empowers the teams to track the orders from preparation to dispatch and delivery. And the best part is, it allows subscribers to track their parcel without support teams’ assistance.
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Conclusion
Techloyce CRM & ERP Solutions Offering subscription services to leads is not enough until you know what pain points, they are facing and how your product eases their concerns. In this regard, HubSpot integration can help you with detailed information on your subscriber, collected from every customer touchpoint, and shared with the central system. Anyone in the team can access it and use it to provide contextual support to the subscribers.
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