Let’s face it: The B2B buying process is clunky. It usually starts with the quoting process on one platform, possibly using another for contracts, yet another platform for billing, and even a possible fourth platform for payments. Sheesh!
Bringing all of these steps in-house saves your company and your customers time and makes getting paid less stressful. This is where HubSpot Payments comes in. Completing payments within your CRM has many benefits for both you and your customers. Let’s dig in.
Benefits of Using HubSpot Payments for B2B Companies
When completing a purchase from a B2B company, customers usually work with a sales rep. Rarely are B2B customers given the opportunity to simply make the purchase online via credit card — even though this is often the way they’d prefer to do business.
To provide this service, B2B companies need a payment capability that enables purchasing experiences across all channels. As the company, you need visibility into all your customer data and interactions.
HubSpot Payments, built natively into HubSpot, encapsulates the entire buying experience within your CRM, allowing you to say goodbye to disparate systems and hello to faster payments all in one place.
Other B2B company benefits:
Collect payments in less time
Get rid of disparate systems by bringing it all in-house
Log into fewer platforms
Set up recurring payments so you never miss an invoice/renewal
Customer data transparency for marketing and sales teams
Send payment links via email, forms, landing pages, or directly with your customers
Automate payment workflows
Combine commerce data with customer data
If you are already using HubSpot Sales Hub or Enterprise, there are no monthly fees, minimums, or commitments for using HubSpot Payments. For ACH transactions, you pay 0.5% of the transaction amount, and it is capped at $10 per transaction. For credit card (CC) transactions, a 2.9% fee is applied.
Here is how HubSpot Payments stacks up to other payment methods.
When a B2B customer is ready to make a purchase, the last thing they want to do is jump through hoops. Today’s B2B purchasing platforms often require a mastery of acrobatics to make it to the finish line. Customers are hit with redundant steps, multiple screens, and limited transaction options.
Meanwhile, all this hassle leads your company to experience delayed sales, missed opportunities, wasted time, and even lost revenue. It should be easier! HubSpot Payments slingshots your company out of the ice age and into modern times by making the buying process seamless.
Other customer benefits include:
A modern, delightful buying experience
The ability to purchase on any device
An improved customer service experience via chatbot
Multiple payment methods
Shop any time of day, not just during business hours
The HubSpot Payments tool uses multiple layers of security to protect sensitive payment information. Your customer’s payment credentials are encrypted and tokenized to prevent unauthorized parties from accessing their info.
Company size: 50+, although it can work with any size company
Location: U.S. only (HubSpot has plans to expand globally in 2023)
Current tech stack includes: PandaDoc, Xero, Docusign, Microsoft Office, Stripe, PayPal, QuickBooks, wire transfers, bill.com, Chargebee, etc.
Current HubSpot products: Starter, Professional or Enterprise Hubs
Signs you are ready for HubSpot Payments:
You sell digital products (software, services, etc.)
You sell recurring subscriptions or memberships
You don’t have to worry about tax collection
You don’t need your commerce solution to support discount codes (for now)
You are for-profit
Need more proof that HubSpot Payments will help you generate revenue faster? Check out this case study where one business managed to increase e-commerce sales by over 400%
Get Started with HubSpot Payments
Instead of cobbling together multiple tools that span your front and back office, it’s time to offer digital payments via HubSpot Payments. You’ll save money on software, boost your bottom line, simplify the customer journey, and delight your customers.
Need help adding Payments to your portal? Contact our onboarding team today.
By: Megan Combs
With a background in magazine journalism, Megan channels her love of the English language and grammar into her writing and editing. Before joining Lynton, Megan was a top content marketer at a digital marketing agency, where she helped clients translate their brand promises into strategic digital and social media messages.