A product walkthrough of HubSpot's Commerce Hub presented by Matt (INBOUND 2023). It demonstrates creating invoices, payment links, subscriptions, quotes-to-invoice conversion, workflows for overdue collections, and built-in revenue reporting—showing how commerce operations can be executed and tracked inside the HubSpot CRM to speed payments and centralize revenue data.
Chapters
Hey Matt from HubSpot here to give you a brief overview of commerce. Hub Commerce Hub is an opportunity to revenue platform built inside of our CRM to help B2B SMBs get paid faster, increase revenue and save time. Let's get started. Let's start with the bedrock of B2B commerce which is invoicing. Historically invoicing happens outside of the CRM, but now you can create invoices inside of HubSpot so they can be sent out in minutes instead of days in one tool instead of multiple. So let's take a look at creating an invoice. I'm able to easily add products for my product library. Maybe I want to add a discount to this invoice and let's make it 10%. I'm going to allow my buyer to purchase through credit card or ach. I'm going to go ahead and finalize that invoice. Here's what the buyer sees. The buyer is going to get a responsive web native invoice that they can pay immediately, which will go to our B2B checkout experience which is optimized for B2B transactions. The magic of what happens with invoicing inside of HubSpot is not simply the ability to send invoices, but all the data that gets created. So let's take a look at that. If I go back to this record, I'm able to see all my invoices that have been sent to this contact with a lot of detail on what those invoices contain and what records are associated with them. And also if they're paid, I'm able to see the payments themselves. So what can you do with this data? Let's take a look at a couple examples. Let's say this contact didn't pay me and now their invoice is overdue. I can go to my Invoices tab in my CRM, click on this pre made filter called Overdue, find the invoice associated with this contact and maybe I want to send them an email reminding them that their invoice is overdue and that they should pay. I can easily do that all from inside my CRM, but let's say that's too manual and I want to automate the entire process of collecting overdue payments. I can go to my workflows tool where I've created a workflow that automates the collection of overdue invoices. So the invoice is being enrolled in a workflow that sends out a collection of overdue invoice reminder emails and and if we go look at that reminder email, it contains personalization tokens like the invoice number and the payment link, making it easy for my buyer to pay. Let's say the buyer is paid. Now another example of what I can do with all of this data inside my CRM is kick off onboarding when an invoice is paid. So in this example, I'm creating a ticket inside of our service hub platform to onboard the new customer. Not all transactions necessarily need an invoice. What about those small ticket items that should be paid immediately like support packages, membership content or events? With our payment links tool, I could generate a simple request for payment that's reusable across customers. So let's take a look. I'm selling a support package to my buyer that's a monthly subscription. And I'm going to go ahead and find that payment link that I've created, associate it with this record. And a payment link is just a simple link that I can send out to my buyer and have them pay. They'll get that same checkout experience that we saw before. But let's take a look at how you can make those completely self service with payment links to generate more revenue and save your team more time. So I'm going to go over to my website builder where I've created a page to actually sell these recurring SO support packages and go ahead and take a look at the page and what you can see here is my buyer is able to purchase either my $100 a month or $200 a month support package. And when we take a look at what this actually is, it's a button that goes to my payment link. Let's take a look at the experience for a buyer. Buyer would be on my website. They'd be able to select from one of these two packages, select their package and pay right there on my website without my team needing to sell anything. Now let's take a look at the subscription that's created. An object in HubSpot is created that allows your team to see everything having to do with the customer subscription and most importantly, manage those subscriptions from right inside of HubSpot. So I can update the payment method associated with the subscription, I can edit the next payment date, I can cancel the subscription, or I can edit it and be able to change the amount, the quantity, the billing frequency, all from right here. So let's say this customer actually wants my more sophisticated package. I'm going to go ahead and remove this line item from the subscription. I'm going to add my $200 a month package. I'm going to press save and just like that, my customer's subscription is updated. So this is an easy, really effective way for your team to manage subscriptions for your buyers without ever leaving HubSpot. Let's say I want to bring my proposals and contracting into HubSpot so that I can really avoid the clunky handoff between departments when going from agreement to revenue. This also helps me get paid faster. I'm going to go ahead and go to my deal and I'm going to create a quote. This quote is using a beautiful proposal template that really gives my buyer a lot of information about who I am and the services that I offer. It's pre filled with information from my CRM. There are my line items and I'm going to go ahead and take signature on this quote. But I'm not going to accept payment because I know that my buyer wants to receive an invoice. Alright, so I'm going to go ahead and publish that quote and let's take a look at the quote that gets created. Really nice professional looking quote that includes my line items and a way for my buyer to electronically sign. So let's say that quote gets electronically signed and now we're ready to invoice. This is extremely easy for my team. I can simply convert quote to an invoice. Which brings me back into this invoice editor that we already looked at with the line items preloaded. So no more waiting for an invoice to be sent out. Once an agreement happens, it happens as soon as your team can send the invoice out from inside of HubSpot. Okay, let's tie this all together with reporting so I can get visibility into my revenue from inside my CRM Revenue reporting for front office teams has always been tricky because the systems they use don't often know about both revenue data and customer data. But with Commerce Hub, that data is centralized into a single system to provide powerful insights for the front office teams. For example, let's take a look at our revenue dashboard. That's pre made and comes standard with Commerce Hub and includes not just payment and commerce data, but also CRM data. So I'm able to combine in this example payment and deal data to see my gross payment revenue by rep per quarter. I could see my highest and lowest selling products and get insight into the health of my revenue like my upcoming accounts receivable and my accounts overdue by aging. And of course, because this is all in CRM, I can take action on my overdue receivables right from here. So there is so much more to Commerce Hub. This is really just scratching the surface of all that it's capable of, including features like our QuickBooks sync, the ability to use HubSpot or Stripe as your payment processor, and much more. So if you want to learn more about Commerce Hub and get started Today, go to HubSpot.com commerce Thanks.
