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Video: Why Should You Use Deals? (1:28)

Contacts and companies aren't the only things HubSpot CRM can track. The most important of all is Deals.

Hey, it’s Kyle from HubSpot Academy. Just like every contact and every company gets its own record inside HubSpot CRM, each potential sale also gets its own record, known as a deal. Deals help you visualize the progress of individual sales.

Why should you use deals? Ultimately, everything you do as a sales rep ought to tie back to one goal: to generate revenue for your company so you can bring home a commission check that’ll do more than just keep the lights on. Now, you still need to treat your contacts like people--because that’s what they are. But just because they’re all people doesn’t mean they’re all equally interesting to you. At the end of the day--or, more accurately, at the end of the month--the people you’ll care about most are the ones with the most sales potential.

If you aren’t using deals, there isn’t really much of a way to measure a person’s sales potential. The timeline on the contact record says a lot about your interactions with a person, but it doesn’t let you see how close they are to signing their name on the dotted line. Any custom views you’ve created don’t do that either. Neither do your email templates or all those beautiful notifications saying your emails are getting opened.

Deals show you in a glance which of your contacts are closest to closing. So if you aren’t using them, chances are you’re going to be missing out on some low-hanging fruit.

Quiz: Why Should You Use Deals?

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Video: How to Use Deals (5:25)

Now that you know why deals are so important, this video will explain how to use them in your daily work.

Let’s talk about how to use deals to keep track of your sales. Every buyer goes through a journey. It’s a journey that starts when they first become aware that they have a problem and ends when they finally decide on a solution to that problem. Your role as a sales rep is to help buyers progress through this journey.

The best way to do this is to view the journey from the buyer’s perspective. Rather than focusing on the steps you need to take, focus on the steps they need to take. Because, really, it’s the buyer’s actions that move a sale forward. Think about it. You send well-crafted emails in hopes that your contacts will read and take action. You schedule appointments in hopes that your contacts will show up and engage with you. You send contracts in hopes that your contacts will sign and return them. In everything you do, it’s the buyer’s actions that matter most.

Your sales process needs to recognize this. Think of the important milestones your prospects have to pass on their way to becoming customers. Things like having an initial consultation with you, getting a demo of your product, and signing a contract. Ideally, these milestones are set up as deals stages in HubSpot CRM.

Deal stages represent the individual steps in your sales process. They’re displayed as a series of columns in the Deals section of the CRM. Each deal stage should represent a real, verifiable action that a contact has to take as they progress towards buying. So the deals in each column represent the contacts and companies who have taken that step.

Here are five pro tips for using deals to take your sales to the next level.

First, create a deal as soon as there's a real chance that a contact or company might buy. How do you know there’s a real chance? If they’ve completed whatever action is described by the first deal stage. If you’re using the default deal stages, that’s Appointment Scheduled. So any time you schedule an appointment with someone, create a deal for them right away.

Next, always associate your deals to at least one contact or company. Remember, deals are meant to track the progress your contacts are making in their journey. If you don’t associate a deal to the contact it relates to, it won’t mean a whole lot. You’ll see it sitting there on the Deal Board, looking promising and needing attention, but you won’t be able to do anything about it because you won’t know who it relates to. Luckily, in most cases the CRM will automatically associate a deal to the appropriate contact or company when you create it, so you won’t have to worry about it too much.

Next, always fill in the Amount property. This is how much money you think the sale will be worth if it closes, and it is without doubt the most important property on the deal record. As soon as you have an idea about how much the deal is worth, be sure to put it in the Amount property. You’ll see why this is so important in a minute.

Next, use the deal board to keep deals up to date. The deal board focuses on the mechanical aspects of your sales. As a sale progresses through the various stages of your sales process, you’ll move the deal from one column to the next until it’s finally won or lost. The deal board is an excellent snapshot of where your sales are right now. It’ll give you a good sense of what’s in process and what’s coming down the pike.

Even though your deal stages should be defined by the buyer’s actions, you should also understand the actions you need to take in each stage to help the buyer move forward. Your contacts can’t respond to an email you haven’t sent or attend a meeting they haven’t been invited to. Figure out what your role is in getting a deal to move from one stage to the next, then look through the deals in each column and make sure you’ve done your part. If you’ve done your part and you’re just waiting on them, find a helpful way to follow up.

Finally, use the deal forecast to prioritize your deals. Behind the scenes, deal stage is assigned a probability of closing, and the deal forecast combines those probabilities with the amount your individual deals are worth to estimate how much revenue you can expect to close this month. And you can click on any stage in the deal forecast to see all the deals in that stage.

And now we get to the reason that Amount is the most important deal property. When you use the deal forecast to look at the deals in a specific deal stage, you can sort the list in different ways. If your deals all have amounts, then you can sort by Amount to bring the biggest deals to the top.

This list will save your sanity when you get close to the end of the month. When the pressure’s on, it can be tempting to just call everybody. But if you take a deep breath and come to the deal forecast, you can click into the later deal stages to see the deals that are closest to closing, and then you can sort them by Amount to prioritize the ones that will put the biggest dent in your quota.

Boom. There’s your to-do list. Just click on the contacts that appear at the top and see what you can do to help shepherd them along.

When you get to the contact record, the timeline will show the movement of every deal that the contact is associated to. You’ll be able to see how they’ve been progressing and what happened during each stage. Once a deal closes, the contact will automatically be labeled as a customer. At that point, their entire journey--all of the work you and this contact did and all of the progress that came as a result--it’ll all be laid out together in one spot. It’s just so beautiful!

So. Deals are pretty awesome. They’re the secret to keeping on top of your most promising prospects. The next video will show you how to use deals to do just that.
In-App Tool

Tool: Evaluate Your Deal Stages

Here are the deal stages inside your CRM. For each one, ask yourself if you know what you need to do to help a prospect in that stage move to the next stage. If you are unclear on what your responsibility is in any stage, click here to send a note to your sales leader. (If you are the sales leader, click here to watch the training on optimizing your deal stages.)

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Video: Deals in Action (1:10)

A brief demonstration of what deals look like in action.

Let’s take a look at how you can use deals to prioritize your sales. For this example, we’ll use the fictional sales rep we introduced in the class on custom views: Bob at Groundskeeper, Inc. Bob sells landscaping services to small property management companies. Each time the end of the month rolls around, Bob makes a habit of focusing on his deals that are closest to closing. To do this, he goes to the Sales Dashboard and looks at the deal forecast. First, he clicks into the Contract Sent deal stage. This is the final stage a deal can be in before it closes. Here he sees a list of people who have contracts that they need to sign and return. He sorts the list by Amount so he can see the contracts that are worth the most.

The deal at the top of this list this month is “5 Properties - The Works” for Supreme Management. If Waldo at Supreme management signs that contract, it’ll be worth $3000 a month. Bob clicks on Waldo’s name and looks at his contact record. From here, Bob can see all of his interactions with Waldo and figure out the best next steps to take. Go get ‘em, Bob!

In the next video, we’ll walk through the details of using deals to organize your sales in HubSpot CRM.
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Tool Walk-Through: Using Deals in HubSpot CRM (1:08)

A brief demonstration of how to use deals inside HubSpot CRM.

The best place to create a deal is the contact record. When a contact enters your pipeline, click the New Deal button. The CRM will automatically fill in the contact and company information, and it will give a projected close date of the end of this month. All you have to do is give the deal a name and fill in the amount it’s worth and then save it. The deal will then be added to your pipeline, which you can see on the Deals page.

This is the Deals page inside the CRM. These columns represent the different stages in your sales process. As a deal progresses, you can drag and drop it from one column to the next. You can also add filters to view only the deals that meet certain criteria. If you’d like to be able to see more information on this page about individual deals, you can change from Board View to Table View. Then you can add, remove, and rearrange columns to get the information you need. In either of these views, you can see an individual deal’s record by clicking on its name.

You can also view your deals on the Sales Dashboard. Here, you can see a forecast of how much revenue you’re on track to close this month, based on the value of your deals and the stages they’re currently in. This information updates every time a deal is created or modified, so it already includes the deal we just created. Click on different stages of your sales process to see the deals in that stage. To sort the list by specific column, click on its header. You can then click on the name of the person associated with the deal to go to their contact record and find ways to help them move forward.

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