Covering the Basics
Marketing will target leads that are still at the early stages of the buying cycle and convert the to Marketing Qualified Leads. Contacts who fill out forms such as Request a Quote or Purchase & Refinance Surveys will automatically be qualified as Marketing Qualified Leads.
All Marketing Qualified Leads will automatically be synced to Salesforce and enter as Lead objects. Once this happens an automated email will be sent to the assigned lead owner. Additionally, a task will get created in Salesforce for follow up.
Once you have been assigned a new lead in HubSpot, it will get pushed to Salesforce where you are required to follow up, with a call, as soon as possible. Log this call in Salesforce under the respective Lead, and complete the task that was assigned to you.
Connect with the prospect and determine if they meet the initial qualification parameters.
1. No recent Foreclosures or bankruptcy’s
2. Purchase property is more than $100,000
3. Credit score exceeds 620
4. Employment Status
If the prospect qualifies and are ready to start the application process convert the Lead to a Contact in Salesforce. Once converted, an Opportunity will be created at the same time.
The Lead Status field consists of five picklist options. The three critical statuses are Contacted – Not Ready, Qualified, and Unqualified.
Lead Status is displayed in the Lead object only and it is the bar at the top of the screen.
Upon initial outreach you will determine if the prospect is qualified and ready to move forward with the application or not.
- If the prospect is not ready due to external factors such as timeframe, recent foreclosure, ext. update their lead status to ‘Contacted – Not Ready’. This will keep the prospect active and signify that future outreach is needed.
- If the prospect is qualified and wants to start the application process, update their lead status to ‘Converted’. In Salesforce this is the trigger to convert the Lead to a Contact. In the top bar in the Lead object, you will want to select ‘Converted’ and then ‘Mark as Complete’.
- If the prospect goes dark, simply isn’t interested anymore, or has gone with a competitor update their lead status to ‘Unqualified’ and set their Disqualification Reason.
Disqualification Reason is a picklist field that should be set after two different scenarios: When the Lead Status is updated to ‘Unqualified’ or ‘Contacted – Not Ready’
- Setting the Disqualification Reason allows us to track why leads are not converting (Unqualified) or determine which nurturing sequences prospects should be enrolled into if they are not quite ready to start the application process (Contacted – Not Ready)
Similarly, if a Loan in Progress does not get Funded then you will need to update the Lost Reason in the Opportunity object.
Before and after the Lead has been converted to a Contact the more information provided the easier it is for segmentation, marketing, and reporting. Most properties, especially basic contact information, are syncing between three different portals, HubSpot, Salesforce, and Encompass so constantly updating records in Salesforce is imperative to Sales success.
A number of properties we gathered on form submissions and that data will pass from HubSpot to Salesforce. Some example information includes:
- Purchase Price Range
- Credit Score
- Property Address
- Recent Bankruptcy or Foreclosures
Lead Source is a property that will be updated automatically from HubSpot. If you receive a lead and Lead Source is known, it should not be updated on the lead object. This could create inaccuracies in reporting.
WORKING LEADS WITHIN SALESFORCE
This section covers how Encompass sync with Salesforce and how you should be working the Opportunity to a Loan.
An Opportunity will get created after you have qualified the lead and converted it to a Contact. [enter screen clip]
The Opportunity object should be worked similar to the Lead object. You should log notes and tasks associated to the Opportunity in the record.
Once the Opportunity and the loan have been created, you should be working the loan from within Encompass.
Encompass will update the Opportunity stages has you hit each milestones. As Salesforce receives updates from Encompass, so will HubSpot!