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How to Build a Custom Calculated Field to Measure Deal Velocity

Create a custom calculated property in HubSpot to measure the time between two dates based on a specific condition, such as when a deal is marked as closed won.

Don't have time to read the hack? Watch Chris walk you through the steps in the video below. 

Step 1: Identify Your Objective

  • In this case, you want to measure the time between two different dates (e.g., the "Create Date" and the "Close Date") in HubSpot, but only when certain conditions are met (e.g., when a deal is marked as "Closed Won").

Step 2: Create a New Property

  1. Go to your HubSpot account and navigate to the Properties section.
  2. Click on Create Property.
  3. Name your property (e.g., Time Between Test or something more descriptive).
  4. Make sure to set the Object type to Deal. This ensures the property is associated with deals.
  5. Use groups for organising properties. This helps with finding the property later and adds clarity for users, as they will understand what the property is measuring.

Step 3: Set Property Field Type

  1. For the field type, choose Calculation.
  2. Select the Time Between Number option. This will calculate the duration between two dates in number format.

Step 4: Choose Date Fields

  1. Next, you need to choose the two date fields you want to measure the time between. Typically, you will use:
    • Create Date (the date the deal was created).
    • Close Date (the date the deal was closed).

Step 5: Add a Condition to Control When the Calculation Happens

  1. Scroll down to the Additional Condition section.
  2. Set up a condition to control when the calculation occurs. For example:
    • Choose "Closed Won" as your condition.
    • If the deal is marked as "Closed Won", the time calculation will occur.
  3. For the condition, select Numeric Field and enter 1 for "Closed Won" (since HubSpot typically uses binary values for this: 1 for "Closed Won" and 0 for "Closed Lost").

Step 6: Save the Property

  1. After setting your condition and choosing the appropriate fields, click Save to create the property.

Step 7: Review and Test

  • Now you have a calculated field that will measure the time between the Create Date and the Close Date, but only when the deal is marked as Closed Won.
  • You can add multiple conditions if needed, using any available data points, depending on your requirements.

Step 8: Optional - Add Descriptions for User Clarity

  • To help other users understand the purpose of the property, add a description when setting up the property. This ensures clarity about what the field measures and when it applies.

By following these steps, you've created a custom calculated field in HubSpot that measures the time between two dates, with a condition that ensures the calculation only happens when the deal is marked as Closed Won. You can expand the conditions or adjust the property as needed based on your specific use case.

 

 

meet the team - Chris

Author: Chris Grant

Sales Service and CRM Implementation Consultant