HubSpot for the Self Funded Industry

The self-funded industry is unique, right? A one-of-a-kind solution for companies tired of traditional insurance plans. But you already know that. The question is: How can you efficiently and successfully convince brokers and employers that your solution is the right move for them? What about making renewals proactive and not reactive?

Our hot take is that HubSpot is the perfect tool to get you there. But here are some observations from our experience that apply regardless of the CRM you choose.  Some of the first steps are to make sure you have systems and organization in place that:

• Are internally transparent
• Make it easy for your team to access information
• Automate and prompt the renewal process
• Eliminate cumbersome spreadsheets

Flip the Script: Are You Internally Transparent?

You're transparent with your clients about costs, premiums, etc. But is your data and communication activity transparent internally?

• Who has been nurturing a hot lead this month?
• Have any proposals been sent out this week?
• Who has engaged with marketing content this month?
• What is total enrollment looking like?

If you can't quickly answer these questions, think about what it would look like to find that information in mere minutes. HubSpot's suite of reporting tools let you quickly find and digest almost any metric you can think of. Picture this:

• On Monday morning before your weekly standup, a weekly pipeline status report is waiting in your inbox
• As an executive, you have a dedicated dashboard to monitor your team's activity and coach individual reps
• As a sales rep, you can see which leads to follow up on immediately with just a glance

Find Info in Minutes and Enable Your Team to Sell Better

Your star sales rep will only be successful if they can easily access things like sales collateral, prospect background information and activity history. Your team needs to be able to communicate the benefits of self-funding to brokers who may be unfamiliar. Can they do that if one-pagers aren't easily accessible? If they're buried in a shared drive or worse, out of date?

With a unified CRM like HubSpot, information is at your beck and call with the click of a few buttons or the power of integrated AI enablement.

• A file library with organized folders housing updated one-pagers, demo videos, and case studies
• An activity timeline on every contact record showing every email, call, meeting and LinkedIn message with that lead
• Step-by-step playbooks to guide your sales reps in real-time

Ensure Renewals Don't Fall Through the Cracks

Any business without a solid client renewal strategy is on a dangerous path. Successfully managing your existing book of business means proactively being in a relationship with your clients and ensuring they are tracking toward renewing with you and not walking away.

How can that be solved by a CRM? With a little data management, recurring content, and automation dust, you'll never miss or lose out on your next renewal. An effective renewal strategy enabled by a unified CRM could include things like:

• Consistent outreach to stay in touch with your clients throughout the year (think monthly/quarterly newsletter or product updates)
• Automated internal prompts (ex. ABC Company's Renewal is in 90 Days)
• Automated external notifications (ex. Your annual renewal is coming up in 90 days. Have any questions?)
• A full internal pipeline to manage renewals from start to finish, automatically notifying internal teams on their next step and keeping the client up to date on their renewal status and to-dos

Replace Spreadsheets with a True Database and Excel Macros with Workflows

Spreadsheets have their place and are vital for certain tasks, but there are better options for managing contact and company information. It’s also hard to say a particular spreadsheet is your source of truth when it could easily be copied or modified without your knowledge.

If you have a true database solution, you can have confidence that:

• Your source of truth is accurate
• You can control who manipulates the data
• There are always breadcrumbs to see what was done and by whom

Surprise, surprise: HubSpot checks all of those boxes and more. Managed correctly, it can be a comprehensive source of truth for your prospect and customer data, where you and your team go every day to perform outreach, account management and service functions all in one place. With custom permission sets, lock down who has edit and view access at a granular level to ensure your data is only changed when it should be.