As part of their growing customer platform, HubSpot recently introduced Commerce Hub. This is part of their ongoing mission to make a more seamless selling experience for businesses from first lead touch to the final payment.
Here’s a quick overview of what is included in this new hub, and what it means for HubSpot users.
What Is Commerce Hub
To put it simply, Commerce Hub is a collection of tools aimed at streamlining the payment process. The goal is to be able to manage all of your business commerce on what platform. You can do this directly through HubSpot tools, or through integrations with your current tech stack.
Here’s an overview of all the tools included in Commerce Hub
- Invoices - Allows you to bill customers natively from within your CRM, saving money and improving accuracy.
- Subscriptions - Bill and manage recurring transactions with HubSpot.
- Quotes - Create, track, and sign agreements within the platform for better deal management and faster time to close.
- Payment Links - Quickly and easily create customizable links to collect payments from anywhere at anytime.
- Commerce Objects - Create payment, subscription, and invoice objects to improve automation and reporting within your portal.
- Automated Billing - Save time manually collecting and renewing, let HubSpot manage billing on an automated schedule.
- HubSpot Payments - Utilize HubSpot’s native payment processing tool to easily collect payments within your CRM.
- Stripe Payment Processor - Gain the same benefits of HubSpot Payments with the payment processor you already use by integrating with your existing Stripe account.
- Products Library - Create and manage a collection of products.
Get Paid Faster
Time is money, and in business, speed counts. With features like Payment Links, Quotes, and Invoices, the number of steps between making a sale and seeing that money in your bank account is drastically reduced. The phrase "cash flow is king" wasn't coined for no reason.
Increase Revenue
It’s not just about moving money; it’s about making more of it. Tools like Subscriptions, B2B Checkout, and HubSpot Payments open the door to new revenue streams. You can act swiftly on new opportunities and make the checkout process a breeze for your clients.
Save Time and Simplify Your Work
Imagine all the extra time you’d have if you could automate billing, revenue reporting, and even your Stripe account management. Yeah, Commerce Hub does that. Automating these essential yet repetitive tasks frees you up to focus on strategic activities that truly deserve your attention.
Data-Driven Decisions
With data represented as CRM objects, you're not just collecting data; you're enabling powerful automation and insightful reporting. This holistic view offers better cross-selling and upselling opportunities by synergizing your sales and CRM data.
Expert Insights from the Commerce Caravan Podcast
Our very own CEO, John Aikin, joined a panel of industry experts at INBOUND 2023 to discuss Commerce Hub. One highlight? "[HubSpot is] on a mission to help people get paid faster, increase revenue, and save time," says Jack Coopersmith from the HubSpot Commerce Product Team. Intrigued? Check out the panel's limited new podcast series Commerce Caravan for more insights here.
The Bottom Line: Why It's More Than Just a Feature Set
According to HubSpot, the average business uses around five different tools in the Quote-to-Cash process. Commerce Hub isn't about adding another tool; it's about simplifying your tech stack into one cohesive unit. This single source of truth enables better inter-departmental alignment and real insights into revenue, not just leads.
A Business-Altering Solution for Everyone
The cherry on top? Many of these features start at free plans, making it accessible for businesses of all sizes. In a world full of complex tech stacks, the Commerce Hub stands out as a unified, user-friendly platform that empowers you to optimize every facet of your commerce process.
Commerce Hub isn’t merely a technological evolution; it's a business revolution. Ready to take the next step in commerce sophistication? Trust me, your bottom line will thank you.
