Hubspot Case Study – Growth Strategy Marketing
Hubspot was founded in spring 2006 during a New Enterprise class on the MIT campus. It is a software platform for inbound marketing that helps companies attract visitors, convert leads, and close on sales/deals.
Users can manage all of their web content and social media accounts in one location, with tools in place to measure success rates by leads and customers. This is a more effective use of collected data than the traditional analytics of page views, time on page, and bounce rate among others.
Hubspot began with 3 customers in 2006 and by 2013 had 10,595.
The company follows a strategy of offering daily free content including its popular website grader, which analyzed more than 2 million websites in its first three years of operation.
The HubSpot philosophy is that free content brings people to the company’s site thus generating quality leads at a lesser cost than could be achieved with traditional marketing techniques.
The website grader and the HubSpot blog generate the most traffic, with instructional and promotional webinars driving conversions. (Each blog post ends with an “opt in” for HubSpot webinars.) The company credits these three channels with 75% of its lead generation.
Some webinars are more successful than others. In January 2011, for instance, a webinar on the science of Facebook drew in 13,000 attendees.
This overall strategy is referred to as “inbound marketing,” which the HubSpot team thinks of as building and owning the sources of your lead generation.
Outbound marketing, according to this line of thinking, puts companies in the same position as “renters,” depending on platforms owned by others to build traffic.
The company claims that inbound leads converts twice as often as outbound leads because they are of a higher quality in the first place. This is the continued justification for the emphasis on free content creation that caters to the point of view of the potential customer.