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In September 2023, Hubspot announced a new “lead” object alongside contacts as a departure from the previous approach of bundling leads and contacts together. Here’s a quick “How to” to implement the leads object and take advantage of this efficient new tool from the popular CRM.
First, let’s delve into the benefits of separating contacts and leads and why Hubspot made the change.
Hubspot revealed the change to managing leads at its annual INBOUND23 conference, and it’s quite a significant move for the platform as it brings it more in line with how Salesforce and other competitors manage leads and contacts.
Today’s CRMs are the key to an effective sales strategy, with every touchpoint and interaction logged and every follow-up critical. The volume of prospects and data makes precise segmentation in a sales pipeline vital. The ability to quickly identify and action tens or hundreds of clients most likely to convert to sales out of many thousands can be the difference between a company’s success and failure.
The Hubspot lead update solves the issue of clearly identifying leads in the CRM. Hubspot users can now create leads from contacts in a similar fashion to creating deals, making it easier to assign leads to sales team members and otherwise define them for marketing purposes.
The update saves time on manual pipeline management and streamlines the sales process for nurturing and converting leads. It allows much greater customisation and segmentation so that interactions with clients can be more appropriately focused.
Hubspot’s new leads object is now a dedicated space in the Hubspot CRM where users can see a consolidated view of active prospects; every lead can be clearly categorised and is easily accessible. Leads can be categorised into distinct stages, from new leads to those on the cusp of conversion, giving greater visibility of potential conversions and revenue-generating opportunities and enabling the fine-tuning of sales activities. The leads object also integrates with Hubspot’s automation tools. Hence, it’s possible to set up automatic transitions between lead stages and operate as if a virtual sales assistant is augmenting the process.
The key features of the leads object include a consolidated view of all sales prospects, clearly defined lead stages from “new” to “qualified,” and the potential to automate lead flows from “attempting” to “connected” as sales activities take place.
Overall, the change creates a more efficient, results-driven, and decluttered sales process within Hubspot.
Hubspot users with an assigned “Sales Hub” in a professional or enterprise account can configure lead settings.
It’s then possible to toggle the following to happen automatically:
You can customise lead stages by adding, renaming, and deleting lead stages.
It’s also possible to automatically create a deal from a lead when a lead is qualified.
You can also require a disqualification reason when a lead is moved to disqualified, which helps oversee sales teams and processes and can provide essential metrics as to why leads don’t convert.
Using the Edit Reasons function, you can customise the disqualification reasons.
Hubspot’s Knowledge Base provides a complete guide to setting up the leads object and further managing lead settings and stages.
For further reading, learn How to Use HubSpot for Personalised Marketing & Sales in 2024
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