Since 2017, the HubSpot Community and Hub Ideas have been buzzing with questions about duplicating deals on the HubSpot platform.
"I have month-to-month contracts and would like to be able to duplicate a Deal so I don't have to enter the same info each month."
"I need to be able to clone an individual deal. This is helpful for recurring revenue organizations and building MRR."
"I'm trying to bring a Deal, headed through our main sales pipeline, and add it to an "Upsell" secondary pipeline. Does anyone know how to do this?"
And many HubSpot partners in the ecosystem have responded with APIs that can solve this.
With PocketKnife, the leadstreet team has created an out-of-the-box solution offering the Clone Deal workflow action.
Clone Deals in HubSpot (and manage MRR)
Before diving into the workflow action, let's look at the concept of monthly recurring revenue or MRR.
It's one of the metrics that are top of mind for sales leaders, managers, and reps. This number lets your team know how much income is generated each month from the business's predictable revenue.
This predictable revenue often comes from subscriptions and retainers. According to HubSpot, the formula for MRR is:
Avg Revenue Per Account x Total Accounts for the Month = MRR
Breaking down the different kinds of MRR helps you identify trends and areas for improvement:
- New MRR
- Expansion MRR
- Churn MRR
- New New MRR
You can learn more about Monthly Recurring Revenue on the HubSpot blog. And if you'd like to deep-dive into your MRR, the revenue analytics tool on HubSpot lets you track how much revenue you're generating or losing in a specific time range.
But before you start tracking, reporting, and analyzing MRR, you need a few things in place:
- Maintaining data hygiene
- Being able to reduce guesswork
- Allowing sales reps to learn from each other’s deals
- Automating processes or parts of a process
This is where the Clone Deal workflow action comes in. It can simplify creating duplicate deals while allowing you to tailor the new deal to your specific needs.
Some key features of the PocketKnife add-on's Clone Deal workflow action include:
- Seamless Deal Duplication: You can easily duplicate an existing deal and preserve key attributes and information crucial to your business processes.
- Customizable Property Management: Get precise control over the deal's properties. Clear out specific properties, ensuring the newly cloned deal starts with a clean slate.
- Selective Property Transfer: The flexibility to copy certain properties from the original deal to the cloned one allows for strategic data continuity while eliminating redundancy.
- Pipeline and Stage Selection: You can choose the destination pipeline and stage for the cloned deal. So you can be sure the new deal aligns seamlessly with your sales pipeline structure.
- Enhanced Properties: You can append or extend properties with additional text. This enhances the level of detail in your deals, providing a richer context for your sales teams.
Uses Cases for Cloning Deals in HubSpot
Whether your goal is to increase sales team efficiency in deal creation, maintain consistency across proposals, or improve data hygiene, the Clone Deal Workflow Action can support you.
We share some use cases here:
- Recurring Deal Structures: You can register deals with similar structures, saving valuable time and reducing data entry errors when setting up new deals.
- Proposal Iterations: Streamline the creation of similar deals for varied client proposals, maintaining consistency in key deal information while making necessary adjustments.
- Product Bundles and Combos: Duplicate deals for different product bundles, retaining essential deal properties while modifying specifics to reflect varying offerings.
- Sales Process Streamlining: Beyond replicating deals for the same customers, you can replicate deals for similar sales scenarios. This reduces the guesswork and minimizes repetitive data entry. So, sales reps can use each other’s deals as templates. They can learn from each other and focus on strategic interactions.
Cloning Deals in HubSpot with PocketKnife– A Quick Guide
The workflow action on PocketKnife lets you clone a deal in HubSpot and then place it in a different pipeline/stage. You can clear some properties at the same time. Here's how it works.
Each year when a new contract is signed, you can clone a deal on HubSpot. And the cloned version is saved on the renewal pipeline. With PocketKnife, you can modify all the deal properties.
Step 1: Create a Deal Workflow.
Step 2: Set triggers for Deal Stage or Deal Property.
Step 3: Select the PocketKnife workflow action "Clone Deal."
Step 4: Configure the settings like:
- Adding extra text to the name + use personalization
- Selecting the new pipeline/stage
- Selecting the properties to copy the values
- Selecting the properties to clear the value
- Selecting the text properties to extend with text
- Creating the extended text with personalization if needed
Addressing the need for cloning deals in HubSpot
By developing the Clone Deal workflow action and the other functionalities included in PocketKnife, the leadstreet team is working to support HubSpot users who experience:
- Being Limited by Some Functionalities: Many teams found that as their business and HubSpot mastery grew, they also had new requirements that needed specialized tools. Part of this happens when teams get more data that helps them identify how to position their business within the industry uniquely. Whether by adjusting their processes, exploring new markets, or partnering with different vendors or suppliers. These functionalities need to be more readily available within the HubSpot ecosystem, prompting users to seek external solutions.
- Finding Existing Functionalities but on Pro or Enterprise Licenses: As the HubSpot team gets feedback from its users, it has worked on developing advanced functionalities. But these often with more premium licenses. For small and medium-sized businesses, it's harder to upgrade their licenses. And this limits the ability to maximize HubSpot further.
- Are User-Friendly: Our team developed the PocketKnife HubSpot addon/app to be intuitive and user-friendly. Unlike other complex solutions for duplicating deals on HubSpot, our app is easy to integrate and use.
- Don’t need custom coding or manual steps: In automating the deal cloning process, you can free up your developers and sales automation specialists to focus on critical projects. This means you have more time and capacity to maximize HubSpot's full potential and focus on executing and refining your sales strategy.
- Can be used with a foundational understanding of HubSpot: Our top priority was empowering small businesses led mainly by 1-2 marketers, 2-3 sales reps, and owners. Often, these people wear many hats and work in multiple roles, too. Teams that cannot specialize and have basic knowledge of the CRM's core features can complement their current HubSpot tools with PocketKnife.
Try the Clone Deal workflow action with HubSpot's ultimate Add-On
Incorporating the app into your HubSpot portal can boost your business processes and help you log recurring revenue. If you’re ready to enhance your HubSpot portal, you can install PocketKnife today.
Take it for a spin: https://pocketknife.leadstreet.be/.
We're here to assist you with any inquiries, technical support, or feedback. Connect with us directly at email@example.com. Let's transform your HubSpot experience together!