Looking At The Total Cost of Ownership for Marketing Hub

Marketing software can seem like a huge investment, but it's important to factor in more than just the initial cost. The Total Cost of Ownership (TCO) is a metric that tells you the total expense you'll incur throughout the lifespan of the software. In addition to TCO, it's important to consider the Return on Investment (ROI) you're getting from the software. Knowing both metrics can be crucial in making long-term business decisions.

What is total cost of ownership?

Total cost of ownership (TCO) refers to the overall expense associated with owning and operating a piece of software throughout its lifespan. It goes beyond the initial cost of purchasing the software and takes into account various factors that contribute to the overall cost. By calculating the TCO, businesses can gain a better understanding of the true financial implications of implementing a marketing software solution.

What factors should be considered when calculating total cost of ownership?

When calculating the total cost of ownership, it is crucial to consider several factors that can significantly impact the overall expense:

1. Software Acquisition Costs: This includes the initial purchase price of the software, any licensing fees, and any additional expenses related to implementation, such as customisation or integration with existing systems. It is important to carefully evaluate the upfront costs to ensure they align with the expected benefits and long-term goals of the business.

2. Operational Costs: These costs encompass the ongoing expenses associated with running the software. This may include maintenance fees, upgrades, and support contracts. It is essential to consider the frequency and extent of these operational costs, as they can vary depending on the complexity of the software and the vendor's pricing model.

3. Personnel Costs: Implementing and managing marketing software often requires dedicated personnel or teams. These personnel costs can include salaries, training, and hiring expenses. It is important to assess the impact on existing resources and determine if additional personnel are needed to effectively utilise the software and maximise its potential.

By considering all these factors when calculating the total cost of ownership, businesses can make informed decisions regarding their marketing software investments. However, it is equally crucial to evaluate the return on investment (ROI) to understand the value and benefits the software brings to the organisation. Balancing the TCO and ROI is essential for making sound long-term business decisions and ensuring the software investment aligns with the company's overall strategy and objectives.

The Total Cost of Ownership for Marketing Hub

The total cost of ownership for Marketing Hub encompasses the initial cost of the software, along with minimal implementation expenses and the costs associated with compensating existing staff.

Software Acquisition Costs of Marketing Hub

Subscription cost will depend on the pricing plan you choose for Marketing Hub. HubSpot offers different pricing tiers, allowing businesses to select the plan that best suits their needs and budget. The subscription cost typically includes access to the software, updates, and basic support.

When it comes to onboarding, there are two options available: HubSpot onboarding and partner onboarding. HubSpot onboarding refers to the process of getting started with Marketing Hub directly through HubSpot's resources and support. This usually involves self-guided tutorials, documentation, and limited assistance from HubSpot's team.

On the other hand, partner onboarding involves working with a certified HubSpot partner agency to implement and onboard Marketing Hub. Partner onboarding offers several advantages over HubSpot onboarding. Firstly, partnering with an agency provides businesses with access to expert guidance and support from professionals who are well-versed in HubSpot's software and its capabilities. These partners can offer tailored strategies and best practices specific to the business's industry and goals.

Marketing Hub is an all-in-one tool that combines various marketing functionalities into a single platform. It offers features such as email marketing, social media management, lead generation, analytics, and customer relationship management (CRM). By consolidating these capabilities, Marketing Hub eliminates the need for businesses to invest in multiple software solutions and integrations, saving both time and money.

With Marketing Hub, businesses can streamline their marketing efforts, automate repetitive tasks, and gain valuable insights into their audience and campaign performance. This comprehensive tool empowers businesses to create targeted marketing campaigns, nurture leads, and track their ROI, all from one centralised platform.

Implementation & Onboarding Costs of Marketing Hub

With HubSpot direct onboarding, businesses are provided with a dedicated Customer Success representative for a period of three months. This partnership allows businesses to get started with Marketing Hub almost immediately, eliminating any potential downtime. The best part is that this service is completely free, making it an attractive option for businesses looking for a cost-effective solution.

However, for businesses that prefer a more hands-on approach and require additional guidance and support, partner onboarding will be the preferred choice. While partner onboarding does come with higher upfront costs, it offers several advantages over the direct onboarding option.

By working with a certified HubSpot partner agency, businesses gain access to a team of professionals who are well-versed in HubSpot's software and its capabilities. These experts can provide tailored strategies and best practices specific to the business's industry and goals, ensuring that the implementation and onboarding process is seamless and efficient.

When considering partner onboarding, it is important for businesses to have a thorough discussions and set aside time for scoping before receiving a quote. This will allow businesses to accurately evaluate the upfront costs and ensure that there are no unexpected charges or hidden fees. It is essential to clearly communicate the business's needs and requirements to the partner agency to ensure that the implementation process is scoped properly, minimising the risk of any additional charges creeping in.

Ultimately, whether businesses choose HubSpot direct onboarding or partner onboarding, the goal is to successfully implement and onboard Marketing Hub to maximise its potential and achieve the desired results. By carefully considering the options and understanding the associated costs, businesses can make an informed decision that aligns with their budget and overall marketing strategy.

Integration Costs

While HubSpot onboarding does not provide integration support, businesses can take advantage of the vast array of out-of-the-box integrations available in the app marketplace. With over 1250 integrations to choose from, businesses can easily connect HubSpot with other software systems, such as CRMs, social media platforms, email marketing tools, and more.

However, it's important to note that if a business requires additional functionality that is not available through the out-of-the-box integrations, they may need to use an Application Programming Interface (API). APIs allow businesses to create custom integrations or connect HubSpot with specific software solutions that are tailored to their unique needs. While using an API can provide businesses with the desired functionality, it may come with additional costs, such as development fees or ongoing maintenance expenses.

To prevent any unexpected integration costs, it is crucial to ensure thorough scoping and data mapping. This involves carefully evaluating the business's requirements and mapping out how the different systems will integrate and exchange data. By conducting a comprehensive analysis upfront, businesses can identify any potential challenges or complexities that may arise during the integration process. This allows them to accurately estimate the costs associated with integration and prevent any surprises down the line.

Data Migration costs

When it comes to migrating data with HubSpot's feature, businesses need to consider the different costs involved. Data migration refers to the process of transferring existing data from one system to another, such as moving customer information from an old CRM to HubSpot's Marketing Hub. While data migration is an essential step in implementing a new software solution, it is important to understand the costs and limitations associated with this process.

HubSpot offers built-in tools and features that simplify the data migration process. Businesses can utilize HubSpot's data import tools to seamlessly transfer their existing data into Marketing Hub. These tools allow businesses to import contacts, companies, deals, and other relevant data directly into the system, ensuring a smooth transition.

However, it is crucial to note that the complexity and size of the data being migrated can impact the costs and limitations involved. Larger datasets or more complex data structures may require additional time and resources for migration, resulting in higher costs. It is important for businesses to thoroughly assess their data migration needs and discuss them with HubSpot's support team to get a clear understanding of the costs involved.

Working with a partner agency for data migration offers several advantages. These agencies have the knowledge and tools to handle complex data structures, ensuring that all data is transferred correctly. They can also provide guidance on data cleansing and deduplication, helping businesses start with clean and accurate data in Marketing Hub.

Additionally, partner agencies can assist with mapping data fields and ensuring that data is properly aligned between systems. This helps businesses avoid any data inconsistencies or errors during the migration process. Partner agencies can also provide ongoing support and assistance, ensuring a seamless transition and minimising any disruption to business operations.

External System Interface Cost

HubSpot's data sync feature offers seamless synchronisation between systems, allowing for two-way data transfer, customisable field mappings, advanced filtering options, and historical syncing capabilities with over 100 of the top business applications.

Cost of additional contacts and users

In Marketing Hub, the cost is based on the number of marketing contacts you have - these are the contacts that you actively market to through emails and ads. However, it's important to note that you can still store non-marketing contacts in your CRM. This includes contacts that are enrolled in sequences or are part of sales conversations.

Training Costs

Training costs are an important consideration when implementing and onboarding with HubSpot's Marketing Hub. The company offers two options for training: direct onboarding through HubSpot's resources and support, or partnering with a certified HubSpot agency for a more tailored and comprehensive training experience.

With HubSpot direct onboarding, businesses have access to a variety of training resources, including the HubSpot Academy, online support, and the HubSpot community. This option is free and provides a solid foundation for understanding and using the Marketing Hub software. However, businesses may find that they need more personalised and in-depth training to fully leverage the platform's capabilities.

Partner onboarding, while more expensive, offers several advantages in terms of training. By working with a certified HubSpot partner agency, businesses gain access to a team of professionals who are experts in HubSpot's software and its capabilities. These experts can provide customised training sessions tailored to the team's specific roles and needs. They can help businesses understand the intricacies of the software, develop effective marketing strategies, and provide ongoing support and guidance as needed.

The training provided by a partner agency is highly valuable, as it ensures that businesses are getting the most out of their investment in Marketing Hub. The agency can offer insights and best practices that are specific to the business's industry and goals, helping them to optimise their marketing efforts and achieve desired results. While the upfront cost may be higher, the long-term benefits of partnering with an agency for training outweigh the additional expense.

Software maintenance costs

When it comes to software maintenance, businesses can rest assured that HubSpot has them covered. As part of the contract, software maintenance is included at no additional cost. This means that businesses can enjoy the peace of mind knowing that any necessary updates or bug fixes will be taken care of by HubSpot's dedicated team of experts.

Not only does HubSpot provide regular maintenance to ensure that the software is running smoothly, but they also invest heavily in improving and adding new functionality on a regular basis. This commitment to continuous improvement means that businesses can benefit from the latest features and enhancements without incurring any additional costs.

Customer Support Costs

HubSpot provides complimentary customer support with no additional fees.

Number of full-time personnel

With its intuitive and user-friendly interface, businesses can effortlessly navigate HubSpot's software and effectively manage their marketing efforts. The comprehensive features provided eliminate the need for a dedicated HubSpot admin, allowing businesses to efficiently operate without a full-time administrator.

HubSpot's platform is designed to streamline marketing processes and automate tasks, reducing the need for extensive manual work. The software provides an all-in-one solution that allows businesses to create and manage campaigns, track performance metrics, nurture leads, and more, all from a single platform.

The intuitive nature of HubSpot's software means that businesses can easily navigate the system and perform tasks without extensive training or technical expertise. The platform offers a user-friendly interface with drag-and-drop functionality, making it accessible to users of all skill levels.

Additionally, HubSpot provides extensive documentation, tutorials, and support resources to assist users in understanding and utilising the software effectively. The HubSpot Academy offers a wide range of online courses and certifications that cover various aspects of marketing, sales, and customer service. These resources empower users to become proficient in using the software and maximise its potential.

How to Calculate the Total Cost of Ownership for Marketing Hub

It is essential to calculate the overall cost of owning Marketing Hub over a period of two years and compare it to other software options you are evaluating.

You may choose to reference this table to calculate your total cost of ownership for Marketing Hub. 

Return on Investment from Marketing Hub

Calculating the return on investment (ROI) from using HubSpot's Marketing Hub is a crucial step in determining the overall value and benefits of the software. ROI is a measure of the profitability and efficiency gained from an investment, and it can help businesses evaluate whether the cost of implementing and using Marketing Hub is justified.

Fortunately, to calculate the ROI from Marketing Hub, businesses can use Six & Flow's HubSpot ROI Calculator. 

By opting to work with a HubSpot partner agency for your Marketing Hub implementation, you gain access to a team of professionals who possess in-depth knowledge and understanding of HubSpot's software and its capabilities. Six & Flow can provide personalised and comprehensive training sessions tailored to your team's specific roles and needs.

We offer insights and best practices that are specific to your industry and goals, helping you optimise your marketing strategies and achieve desired results.

While there may be an upfront cost associated with partnering with an agency, the long-term benefits far outweigh the additional expense. Six & Flow's expertise ensures that you are making the most out of your investment in Marketing Hub and maximising its potential.