Introduction

When it comes to seamless customer relationship management, one word stands out: 'friction.'

We understand that the payment and purchase processes can be a friction-filled zone, with significant implications for sales efficiency, customer satisfaction, and your bottom line. This is precisely why integrating a dependable payment processing solution into your CRM is a must.

If you already run your CRM on HubSpot [or wish to] and want to know how a Stripe integration will benefit your revenue operations, and how to go about setting up HubSpot + stripe with pro-level tips, keep scrolling!

HubSpot-Stripe Integration- What’s in it for you?

While HubSpot offers a convenient internal payment processor, it does come with some inherent limitations. This is where the integration of Stripe proves invaluable, presenting a robust solution to address these constraints and optimize the payment process. Consequently, it not only shortens the sales cycle but also mitigates any potential friction.

Here are a few benefits of HubSpot and Stripe integration

Customized Buyer Experience

HubSpot's integration with Stripe goes a step further by allowing you to customize your buyer checkout experience. Tailor the purchase journey to meet your specific customer needs, providing a more personalized and user-friendly buying experience.

Product Library for Efficiency

HubSpot CRM and Stripe payment integration also enables you to populate your product library in HubSpot. This library serves as a repository of products, enabling quick and efficient deal and quote creation. Easily allowing you to add, update, and manage your product offerings, saving valuable time and reducing errors.

Subscription Control 

If your business relies on recurring subscription models, such as monthly billing, you gain the advantage of managing and updating these subscriptions seamlessly within HubSpot. This means more control and flexibility in catering to your customers' subscription needs.

Unified Data Management

By setting up HubSpot-Stripe integration, you'll use HubSpot as the central source of truth for your commerce-related tools and assets. HubSpot becomes your go-to hub for creating invoices, payment links, and quotes. This not only simplifies data management but also ensures data accuracy and consistency.

Streamlined Revenue Processes

By enabling the creation of invoices, payment links, and quotes directly within HubSpot, the integration streamlines your revenue-generating processes. This results in quicker transaction handling, improved accuracy, and professionalism in your financial interactions with customers.

In essence, Stripe integration offers versatility and capabilities that alleviate the customer experience game and equip your business to provide a seamless payment experience, reach a global audience, and maximize customization options, ultimately driving growth and customer satisfaction. 

The following section will guide you through the integration process, ensuring you leverage the full potential of the Hubspot + Stripe integration.

Getting Started with HubSpot-Stripe Integration

Now that we've established compelling reasons to opt for Stripe integration, let's explore how to make this integration a reality within your HubSpot sales cloud. This section will provide a step-by-step guide, including advanced tips for smooth and effective integration.

Prerequisites

• Before you get started it is important to note that your Stripe account is allowed connection only to one third-party integration or platform in a given time frame. So, during setup, you will be navigated to create a new Stripe account which can be accessed from your existing account as well.
  
  

Source: HubSpot Knowledge Base

• While the information of the existing account will be used for setting up the new account, historical data will not be carried over.
  
  
• Your existing Stripe account will maintain all currently active subscriptions without any alterations, allowing you to manage them within the same account. However, any new subscriptions generated through this integration will be synchronized with the new account.

To integrate Stripe, here are the steps:

1. In your HubSpot account, navigate to Sales > Payments > Payments.

2. In the top right corner, click 'Connect Stripe.'

4. Follow the on-screen instructions to set up your Stripe account. You'll need to provide your Stripe account details, set up your business info if necessary, and complete two-factor authentication- after which you will be promptly redirected back to Hubspot.

Source: HubSpot Knowledge Base

5. Once your Stripe account is set up and ready, HubSpot will notify you by displaying 'Ready to transact' in the Payment status label. In some cases, this process may take up to three days.

Source: HubSpot Knowledge Base

After successfully connecting your Stripe account, you're all set to manage your subscriptions, payment links, quotes, and invoices in HubSpot. The possibilities are endless, and your payment processes just got a major upgrade.

Note:  If you're looking to expand the capabilities of your HubSpot-Stripe integration even further, consider incorporating Zapier into the mix. Zapier allows you to create automated workflows and connections between HubSpot, Stripe, and countless other applications. Check out this resource for more information on Zapier and how to create advanced custom Zaps.

Here’s how Zapier can help enable the Stripe-Hubspot integration:

 Source: youtube

Tips & resources for fine-tuning your Hubspot-Stripe integration

To make the most of this integration, take some time to explore these key aspects:

• The Stripe integration Beta terms are an important run-through of the terms and conditions that are vital to the post-integration application. Make sure you go through them carefully to ensure all things listed are agreeable to your business.
  
  
• Since payment-related procedures are risky and confidential, have a look at the security measures taken by Hubspot to protect your data.
  
  
• You can consider using HubSpot's accounting integrations to export billing data, such as invoices [ if you need to], to your accounting system.
  
  
• Operation & Sales Hub Professional and Enterprise subscribers can automate tasks using the workflow tool. For example, you can send post-payment email surveys, set up quote-based notifications for Sales Hub users, or facilitate data exchange with external tools using webhooks.
  
  
• During the process of creating your revenue reports you can consider using HubSpot’s default payment report dashboards, or if you are a Professional or Enterprise subscriber, take advantage of the report builder for custom reporting.
  
  
• If your business relies on recurring payments, explore Stripe's subscription management features. HubSpot can integrate these functionalities to automate subscription billing and renewals.

Conclusion

By understanding the resourceful uses of the Hubspot-stripe integration, and following the practical integration steps, you can expect a simplified payment process and decreased churn rate, as customers are less likely to cancel their subscriptions due to payment-related issues- thereby eliminating friction altogether.

Now, equipped with the knowledge and the roadmap, you have the opportunity to embrace a future where customer relations are enriched, sales are optimized, and growth is a natural outcome. The value of HubSpot and Stripe integration is clear, and the potential is unlimited. 

If you feel ready to dive into this transformative integration, consider the assistance of RevOps specialists who can guide you through every step of the way ensuring you’re all set up for success.