HubSpot Earns Acclaim from Frost & Sullivan for Its Product Innovation-based Growth Strategy
HubSpot's flywheel methodology helps attract visitors to clients' websites as well as organize, track, and nurture relationships to transform customers into promoters
SANTA CLARA, Calif., July 8, 2019 /CNW/ -- Based on its recent analysis of the global marketing automation solutions market, Frost & Sullivan recognizes HubSpot with the 2019 Global Growth Excellence Leadership Award for its 'flywheel' strategy. This strategy creates new ways in which customers access HubSpot's open platform, data, and tools for sales enablement, lead optimization, and campaign management. The company's thought leadership excellence and customer value creation have resulted in a 90% expansion in the share of wallet, 48% international revenue growth, and 37% growth in total revenues.
"At the core of HubSpot's integrated and intuitive hosted platform is a customer relationship management database that helps companies manage their pipeline and speed up their sales workflows by automating tasks through a single suite of software," said Melody Siefken, Research Analyst at Frost & Sullivan. "The company supports productive sales outreach by converting marketing and leads to revenue. Its applications for live chat, bots, email marketing, sales content, prospecting, and appointment setting integrate with data and processes organized into three hubs: sales, marketing, and customer service."
As all of its applications run on the same platform and database—allowing growing businesses to deliver never-before customer experiences. HubSpot minimizes friction in the complete customer journey by aligning its full suite of products. Through end-to-end marketing, sales, regular upgrades, and customer service solutions, HubSpot addresses clients' distinct needs. The company demonstrates its ability to pursue organic growth through distribution channel optimization, new product releases, as well as geographic expansion. Furthermore, numerous new connect partners integrated their applications into HubSpot in 2018, thereby expanding the value created for customers.
By introducing a 'flywheel' strategy to garner more customer referrals and word-of-mouth recommendations, HubSpot succeeded in speeding up its business momentum and achieved significant growth. In the HubSpot model, there is room to expand customers' solution set. The company rearranged its pricing options into a growth suite bundle, extending its three tiers to four packages: free, starter, professional, and enterprise packs. Customers responded by transitioning to the full suite faster—a 50% increase in the upfront sales of all three (paid) products through the bundle.
"Lastly, by helping clients understand, utilize, and master its software and inbound methodology, HubSpot educates, influences, and inspires the way the world does business. In addition to its software that enables a systematic approach to nurture leads, HubSpot's online education and training offer compelling value propositions," noted Siefken. "Amid digital transformation on many levels, HubSpot's approach presents a better way to market, sell, and serve customers, allowing companies to grow sustainably in the long term."
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. It recognizes the superiority of the product/service as well as the overall customer, purchase, ownership, and service experience offered, which has resulted in the recipient company seeing above-market growth and a greater share of wallet. The award lauds the growth, diversification, and sustainability strategies of the company.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About HubSpot
HubSpot is a leading growth platform. Since 2006, HubSpot has been on a mission to make the world more inbound. Today, over 60,500 total customers in more than 100 countries use HubSpot's award-winning software, services, and support to transform the way they attract, engage, and delight customers. Comprised of Marketing Hub, Sales Hub, Service Hub, and a powerful free CRM, HubSpot gives companies the tools they need to Grow Better.
HubSpot has been named a top place to work by Glassdoor, Fortune, The Boston Globe, and The Boston Business Journal. The company is headquartered in Cambridge, MA with offices in Dublin, Ireland; Singapore; Sydney, Australia; Tokyo, Japan; Berlin, Germany; Bogotá, Colombia; Paris, France; and Portsmouth, NH.
Learn more at www.hubspot.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works collaboratively with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.
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SOURCE Frost & Sullivan
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