Episode 45: Considering HubSpot Costs

Welcome to Episode 45 of HubShots!

Recorded: Monday 01 August 2016 - Published: Thursday 11 August 2016

Welcome

Join our HubShots WhatsApp Group: https://hubshots.com/whatsapp/

Shot 1: Inbound Thought of the Week

98 days until Inbound -  http://inboundcountdown.com

New Keynote Speaker announced:

http://www.inbound.com/speakers/reshma-saujani

Reshma Saujani - http://reshmasaujani.com/

Author, Founder & CEO of Girls Who Code - https://girlswhocode.com/

https://girlswhocode.com/summer-immersion-programs/

https://www.facebook.com/GirlsWhoCode

Brian and Dharmesh got bumped from the speaker page ?

http://www.inbound.com/inbound16/speakers

Shot 2: HubSpot Feature/Tip of the Week

Endeavouring…

What is coming:

Merge Companies like you do with contacts - In development http://ideas.hubspot.com/forums/76407-general-hubspot-ideas/suggestions/6940198-merge-companies-like-you-do-with-contacts

Create ability to have parent accounts, and sub accounts - In design http://ideas.hubspot.com/forums/76407-general-hubspot-ideas/suggestions/6675612-create-ability-to-have-parent-accounts-and-subacc

"Pin" a note to the top of a contact or company timeline - In design http://ideas.hubspot.com/forums/76407-general-hubspot-ideas/suggestions/9936039--pin-a-note-to-the-top-of-a-contact-or-company-ti

Shot 3: Challenge of the Week

Customers complaining about the cost of keeping contacts in their database...

Shot 4: Opinion of the Week

Cost of Acquisition versus Cost of Nurture (Cost of Retention)

http://www.craigbailey.net/cost-acquisition-versus-cost-nurture/

Interesting to consider when people complain that it costs too much to keep people in the database.

Cost of Nurture

Consider 10K contacts:

MailChimp: $75 = 0.75c per contact per month or 9c per year - http://mailchimp.com/pricing/growing-business/

Active Campaign: $350 = 3.5c per contact per month or 42c per year - http://www.activecampaign.com/pricing/

HubSpot: $1050 + $68 x 9 = $1662 = 16.6c per contact per month or $2 per year - http://www.hubspot.com/pricing/marketing#?currency=AUD (should actually use USD pricing as this would be comparable with the other two examples)

Compare this with the cost of acquisition

Often B2B companies are happy if they can get a lead for less than $100 per lead

On Facebook we’ll often get leads for less $20, and this is considered an excellent result.

So: B2B businesses are usually happy to pay $20+ per lead, but will baulk at paying $2 per lead to nurture them for a year…

Solve for the problem: Cost of retention is NOT the problem!

Instead: Focus on reducing cost of acquisition OR improving conversion rate OR increasing lead quality OR...

Shot 5: General Tip of the Week

Facebook Time on site Custom Web Audiences:

http://www.jonloomer.com/2016/07/28/time-on-website-custom-audience-facebook/

I don’t have it yet :-(

Shot 6: State of Inbound Item of the Week

George B Thomas is back with us!

A disturbance in the inbound force…

Shot 7: Motivation of the Week

George B Thomas lessons on Facebook live chat:

https://www.facebook.com/Mr.GeorgeBThomas/videos/881325441972715/

A good reminder of the real priorities in life!

Shot 8: Resource of the Week

https://medium.com/@jeffbullas/15-content-marketing-trends-that-need-your-close-attention-1b16ec118ce7#.co1x07avs

Shot 9: Community Item of the Week

Using Slack to DM yourself notes (e.g. copy URLs from phone to desktop)

Shot 10: Podcast of the Week

Marketing School by Neil Patel & Eric Siu.

https://itunes.apple.com/us/podcast/marketing-school-digital-marketing/id1138869817?mt=2

Shot 11: App of the Week

Skitch

Get your point across with fewer words using annotation, shapes and sketches, so that your ideas become reality faster.

https://evernote.com/skitch/

Wins the award for least informative product page in the history of the internet!