What are HubSpot Payments, and how are they used?

Find out what HubSpot Payments are, how you must use them, and how it helps your business facilitate the customer checkout experience.

HubSpot is a compelling CRM platform with a wide range of modules and tools capable of automating the management of the different processes of the commercial areas of a company, such as marketing, sales, and service. In recent months it has had innovations within its sales software or the Sales Hub software.

This new update in its software brings a high impact and contribution regarding payment methods and tools, thus creating a new tool that independently manages these activities.

This aspect can align with the companies' overall sales processes and make the payment agility your organization receives and manage. It will also substantially improve your customers' payment experiences through a native CRM upgrade.

For this blog, we will address the following aspects of what HubSpot payments are and how must use them: 

• What are HubSpot payments, and how are they used?
• Considerations for setting up B2B purchases through your CRM's payments tool.
• Essential elements for establishing purchase links through your CRM's payments tool.
• Types of digital payments capabilities in HubSpot.
• Benefits of HubSpot payments in the customer shopping experience.

What are HubSpot payments, and how are they used?

They created this novel functionality of HubSpot's sales module with the prospect to alleviate the various pain points of companies concerning their customer's buying experiences and buy processes.

To summarize, it is essential to consider the following two scenarios:

• The customer's perspective concerns that many companies do not make efforts to offer their products and services online. This even when they really can do it for the following reasons:

1. They have the economic resources.
2. The market demands innovation and competitiveness if they want to remain relevant to its buyer persona.
3. They have noticed that there are business opportunities that they have lost by not taking the next step in implementing new initiatives to strengthen their company.

• The customer's perspective relates to the way companies are used to selling through their sales representatives. For the following conclusions:

1. They perceive the buying experience as painful, tedious, and not generating value.
2. There are obstacles in the sales process due to the type of system that the company currently uses, its excel tool, ERP, and accounting system, among others.

To improve the buying experience for B2-B customers, HubSpot developed its tool to help improve and simplify the buying experience and sales experience processes through a device known as "HubSpot Payments."

Considerations for setting up B2B buying through your CRM's payment tool

With HubSpot's payment tool, you'll simplify the B2B buying process. A process has undoubtedly been a significant pain point for many companies, interrupted even by lapses. There are two types of problems that companies with B2B customer markets encounter, for which it is essential to consider the following aspects:

1. The first problem: As painful as it may be, in your reality, you are not selling a single product or service online, although your customers most likely want that to happen because, logically, they want a better experience than the one they are currently getting.
2. The second problem: With the sales process assisted by their sales reps, which is full of obstacles to overcome, implementation of performance indicators and results, plus a notable lack of business rules that should apply in the company to improve sales processes, buying experience and integrally, the total customer experience.

If you want to learn more about how to improve your customer experience or design it, I recommend you to read our blogs: 

• The tool to become an expert in improving your customer experience

• Art and science in Design Thinking

• CX Design in less than 700 words

To solve the problem for the customer as well as the sales rep. HubSpot addresses this issue through its payments and commerce tool, which is simple.

Essential elements for establishing purchase links through your CRM's payments tool

1. HubSpot Payments allows your customers to collect payments as part of the HubSpot offers within its capability. The payments tool has taken the critical payments capability, which is often found in many types of disparate, non-automated systems, and embedded what the purpose of that payments tool you used previously was, but in an automated, simple, and native form in HubSpot.
2. The payments tool also allows you to issue and receive payment notifications.

Types of digital payment capabilities in HubSpot

• Issue copies of digital receipts to customers. 
• Improve your customer's payment experience.
• Develop subscription records.
• Recurring payment reporting.
• Sending refunds.

Benefits of HubSpot payments in the customer shopping experience

Through this innovative tool, within the HubSpot CRM, you will have control and ease of management through shared links, which streamlines processes such as shipping and receipt of payment invoices, refunds, and customized reports. HubSpot payments improve and automate the customer shopping experience; not all CRMs have payment management tools and modules.

Interested in learning how to set up or improve the management of subscription payments, collections, refund issuance for your customer service and sales teams and how to automate these business processes in your organization, schedule a meeting with a consultant.