Enhance your HubSpot deal pipeline insights with automated calculations
Looking to enhance your HubSpot deal pipeline insights? Here's a clever hack to calculate the Weighted Annual Recurring Revenue (ARR) Probability and gain a deeper understanding of your deal forecasts. Watch Chris explain in his video or read the step by steps further down!
Step 1: Create a New Field
Begin by creating a new field named "Weighted ARR Probability" in your HubSpot deal pipeline. This should be a simple number field to capture the weighted probability.
Step 2: Build a Workflow
Set the enrolment criteria based on the specific pipeline you're working with. Each pipeline may require a separate workflow.
Step 3: Set Property Value Action
Within the workflow, create a branching logic based on deal pipeline stages. Utilise the "Set Property Value" action to dynamically adjust the Weighted ARR Probability. For each stage, set the corresponding weight. For instance, for the new prospect stage, set it to 0, and increment as per your closed probabilities.
Step 4: Calculate Weighted ARR
In HubSpot's property settings, generate a new field, "Weighted ARR," as a calculated field. Use a simple custom equation to multiply the ARR Probability by the ARR field. This creates the Weighted ARR field, providing you with valuable insights into the potential recurring revenue.
Note:
- Ensure you manage your calculated properties wisely, as there's a limit (five) for HubSpot Pro or Sales Pro users.
- This mechanism can be applied to any numerical field in your deal records, offering flexibility in analysing various revenue components.
By implementing this hack, you'll empower your HubSpot instance to deliver more nuanced insights into your deal forecasts, helping you make informed decisions and drive business growth.
