Last updated on October 4th, 2019 at 04:45 pm
Introduction – What is HubSpot?
HubSpot is one of the leading companies in the world that deals with computer-based software and applications. The world is connected by the internet and this is the reason that companies like HubSpot make money and command a huge market share since they know exactly what the market demands. A company like this one is bound to face numerous challenges due to the nature of the business it is involved in. The key problems include the ability of the company to offer a diversity of products and services (Halligan, 18).
Primary Concerns of HubSpot
This is a key requirement since it cannot have a single product or service in the market and remain competitive. The company’s main concern was to be able to find customers who would bring the best business relationships to the company. This was difficult since the company was has a large clientele list that kept growing. The company also had to grapple with the issue of placing the right price tags on its products to attract new clients whilst making money. Lastly, the company had to keep track of its market share through inbound marketing. HubSpot thus needed to be more than a software company, and thus arose the strong need for diversity in its products and services.
The company also had to deal with finding successful ways to expand and fund its growth strategy. This is in tune with its goals to grow in order to have a larger market share. At the same time, HubSpot also had to deal with the issue of finding ways to attract new customers, since it had chosen to use new modern and unconventional ways to win clients.
The Marketing Advantage Of HubSpot
HubSpot is a company with numerous opportunities in the software market. One of its key attractions is that the company thinks out of the box and, thus offers customers innovative software solutions and applications that modern clients are looking for. This is because the company utilizes a good amount of resources in developing the best for its clients. One of the greatest opportunities for the company is the fact that there are many clients willing to try anything new and this can help HubSpot to raise the threshold of their risk appetite. Research had shown that people were no longer interested in inbound marketing since it seemed to interfere with their lives. It is, therefore, appealing to both, businesses and clients alike when inbound marketing is done in a different way that is still appealing and engaging.
To address all the problems, the company anticipated that several measures had to be taken into consideration. HubSpot developed specific software products that assisted companies to use inbound marketing products, thus assisting them to do away with the outdated traditional outbound programs. The company had to engage the best technological minds to assist in the realization of the company’s goals. This included new graduates from MIT. Some of the feasible solutions to the problems were the use of the latest technology to come up with the best alternatives to outbound marketing techniques. Financial constraints had to be taken into account since developing this software was expensive. This is why the company sought for funds from General Catalyst and Matrix Partners to fund software development and growth of the company. Operational challenges had to be with the distribution of roles in the company. Halligan had strong marketing, sales, and venture capital background, and thus, became the CEO of the company while Shah became the chief software architect.
The decision-maker for HubSpot should ensure that the company maintains its growth and development momentum. This is necessary to ensure that the company keeps developing the appropriate software to meet the needs of clients, which in turn would benefit the company monetarily. It is paramount that HubSpot keeps abreast with the needs of the market to ensure that it develops computer-based applications and software that are relevant to the target market. The involvement of new and creative people in the company would be an added benefit for the company since fresh graduates would bring in new and more innovative ideas to the company.
Halligan, Brian. Inbound marketing: get found using Google, social media, and blogs. Hoboken, N.J: Wiley, 2010.
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