Businesses spend a lot of time and money capturing and organizing data. Alone, that data can be valuable to specific departments. However, businesses must be able to use that data to inform high-level strategy and deliver value.
However, payment and subscription data are sometimes overlooked as potential value drivers. They can be crucial to your go-to-market (GTM) strategy and can empower your GTM team.
This article is based on a recent webinar featuring Aptitude 8 CEO Connor Jeffers, as well as leaders from Stripe and HubSpot. Here’s what you need to know about subscription data’s role in your GTM strategy.
Companies Rely on a Significant Amount of Data
GTM strategies inform an organization’s approach to engaging with customers, selling products, and encouraging repeat business. GTM is often associated with new products and service offerings, but not always.
GTM teams can draw data from a variety of sources to ensure the smooth launch of products, an effective customer experience, and strong targeting in their marketing campaigns.
Here are just a few technologies and data sources that are critical to GTM teams:
- Web Analytics: Anonymous user behavior
- Marketing Automation: Contact management
- CRM: Sales performance
- Service Desk: Support experience
Companies typically spend a significant amount of money on tools to manage these technologies and orchestrate their various data sources. However, smart companies are unifying this data, so it can be used as part of their business strategies, including GTM, marketing, sales, service, and more.
Siloed Payment Data Can’t Contribute to GTM Strategies
Unfortunately, payment and subscription data are often siloed, so they can't be unified with data from other areas of the business. For example, payment data may be processed via a payment, ERP, or accounting platform that doesn’t speak to the tools the GTM team uses.
This prevents the marketing team from optimizing or accomplishing strategies like the following:
- Automating customer communications based on payment events
- Powering Product Led Growth (PLG) strategies
- Coordinating “sales-assisted” motions alongside PGL
- Managing renewal campaigns
- Prioritizing support requests based on customer value
- Converting a customer to “paid” without product or finance support
- Upgrading customers with low-friction experiences
Something as simple as automating a “Thank you for your payment” message may depend on this type of data being available and usable. There can also be significant problems with subscription renewals.
Service teams need to know who their active customers are. They need to be able to automate messages based on upcoming renewal periods and send notices about potential upgrades to customers. All these tasks can contribute directly to revenue and customer lifetime value (CLV).
While this matters most for SaaS companies, subscription-based businesses, and eCommerce businesses, it can also impact other B2B businesses. Every business accepts payments. If they aren’t utilizing their payment data for strategy, they are likely missing opportunities to engage, upsell, or renew with their customers.
HubSpot Payments Offers a Solution
HubSpot users don’t need to onboard new technologies or build integrations to leverage their payment and subscription data for GTM strategies. Instead, they can use HubSpot Payments, which unifies back-office payment data with “font-office” CRM data.
This breaks down the typical silos associated with payment and subscription data and enables the company to leverage that data for marketing, sales conversations, subscription renewals, promotions, and more.
Most importantly, it empowers GTM teams with vital data they need to implement automation and inform their strategies with new and ongoing customers. With HubSpot Payments, GTM teams can immediately identify their active customers as well as leads, prospects, and potential return customers. This is especially important for renewals.
HubSpot Payments, Integrations, and Zaybra
HubSpot Payments integrates with some of the most popular and widely used payment platforms on the market. Companies that have basic needs for their subscription and payment services can leverage the most popular tools and integrate them with HubSpot easily.
Companies with more complex needs may require custom integrations or applications to fully leverage their payment and subscription data. Thankfully, HubSpot is also home to a vibrant app development community, of which our sister company, A8 Labs, is a part.
A8 Labs’ Zaybra app for HubSpot allows users to seamlessly manage Stripe subscriptions on any HubSpot tier, directly through their HubSpot account. Essentially, enables GTM teams to do four things:
- Synchronize data between HubSpot and Stripe
- Manage and create Stripe subscriptions and payments within HubSpot
- Automate sales, marketing, and service actions in HubSpot
- Report on CRM and Stripe data insights of HubSpot’s CRM platform
Zaybra also prevents users from having to flip between different platforms just to access the data they need. It allows them to process and use payment and subscription data from Stripe directly through their HubSpot dashboard.
Using Zaybra, users can even Create, Update, Pause, Cancel, and Refund Stripe subscriptions without ever leaving HubSpot. This is critical for service and GTM teams, as it opens new possibilities for automation and other areas of value based on the company’s payment data.
Start Putting Your Payment and Subscription Data to Use
If your payment and subscription data is still siloed, you could be missing out on significant opportunities to boost revenue, improve the customer experience, and automate many of your customer engagement strategies. You owe it to your GTM to break down these barriers.
Contact Aptitude 8 today to learn more about how to improve your GTM strategy with HubSpot Payments, Zaybra, and more.