How to set up your sales pipeline in HubSpot

In the fast-paced world of B2B sales, you can't afford for any deals to fall through the cracks.

HubSpot is equipped with robust tools to manage your sales cycle from initial contact to closing deals. This guide will help you understand how to set up and optimise your sales pipeline using HubSpot CRM, ensuring your team stays on track and your sales process remains efficient.

Why is a sales pipeline important?

A well-structured sales pipeline offers several benefits:

Visibility: Provides a clear view of where each deal stands in the sales process.

Efficiency: Helps identify bottlenecks and areas for improvement.

Forecasting: Allows for more accurate sales predictions and resource planning.

Performance Tracking: Enables tracking of individual and team performance against sales targets.

How to Set Up a Sales Pipeline in HubSpot

Setting up a sales pipeline in HubSpot involves a few key steps.

Here’s a detailed guide to help you get started:

Outline Your Sales Stages

Before you dive into HubSpot, define the stages of your sales process.

Typical stages might include:

Discovery Booked: Your team has booked a discovery call with a qualified lead.

Demo: Providing a demonstration of your product or service.

Proposal: Sending a detailed proposal or quote.

Closed Won/Lost: Marking the deal as won or lost.

Configure your pipeline in HubSpot

Once your stages are defined, log into your HubSpot account and go to Settings > Objects > Deals > Pipelines. 

From here, you can customise the deal stages to match your sales process. 

In this video, you can watch our Chief Executive, John Kelleher, configure a simple sales pipeline in HubSpot: 

Edit Stages: Tailor each stage to reflect the specific actions and criteria relevant to your sales cycle.

Add Stages: You can add stages such as ‘Lead In’, ‘Qualified’, ‘Presentation Scheduled’, ‘Proposal Sent’, and ‘Closed Won/Lost’.

From this screen, you can also configure the probability of closing a deal at each stage, which will be taken into account when using the forecasting tools. 

On this screen, you can also configure required properties that reps have to complete before they can move a deal from one stage to the next. 

Tips for Optimising Your Sales Pipeline

Regular Reviews: Periodically review your pipeline stages and make adjustments as needed to reflect changes in your sales strategy.

Training: Ensure your sales team is well-trained on using HubSpot and understands the importance of accurately updating deal stages.

Reporting: Use HubSpot’s reporting features to analyse pipeline performance, identify trends, and make data-driven decisions.

Setting up and managing a sales pipeline in HubSpot CRM is a powerful way to enhance your sales process, increase efficiency, and drive better results. By following these steps and tips, you’ll be well on your way to creating a robust sales pipeline that supports your team’s success and helps achieve your sales goals.