"HubSpot is crazy expensive."
I hear this statement a few times every month.
Admittedly, when you combine your number of contacts, paid sales seats, and paid customer service seats, it is surely an investment for those who are serious about growing their business.
However, the "HubSpot is expensive" opinion is more about the person saying it than it is about HubSpot. Let me explain.
On the marketing software side, HubSpot charges based on how many contacts you are storing in the system. For instance, if you add 1,000 people to your list, it will cost you an extra $50/month (it will cost less if you are on HubSpot's Enterprise platform).
Extending that example – if you add 10,000 people to your HubSpot database beyond the contact tier you originally purchased, it will cost you an extra $500/month ($50x10).
That extra $6000/year on top of the base software cost can lead people to pause and re-evaluate whether or not this investment is worth it. However, like I said above, thinking that $500/month is expensive is more of a reflection of your skills as a marketer or sales leader than a commentary on HubSpot's cost.
If you believe that paying $500/month to market or sell to an additional 10,000 people will not deliver a 10X returns or more, you must not have confidence in either your business model, product, or marketing and sales abilities.
Consider the following mindset shift. Refrain from focusing on HubSpot's cost and start wondering why you and your team can't generate an extra nickel from each contact on your list to cover your added software costs.
Here is what a 10X ROI looks like on 1,000 additional contacts ($50/month cost) in #HubSpot:
Sell an extra $.50 to every contact on that list per month
Sell an extra $1 to 500 of 1,000 people per month
Sell an extra $2 to 250 of 1,000 people per month
Sell an extra $5 to 100 of 1,000 people per month
Sell an extra $10 to 50 of 1,000 people per month
Sell an extra $20 to 25 of 1,000 people per month
Sell an extra $50 to 10 of 1,000 people per month
Sell an extra $100 to 5 of 1,000 people per month
Sell an extra $250 to 2 of 1,000 people per month
Sell an extra $500 to 1 of 1,000 person per month
If you can't convert at these rates, you need to do the work to feel confident in your product/marketing fit, pricing, and go-to-market plan before you look at implementing software.
