At WebStrategies, we understand the challenges credit unions face in staying competitive in today's digital landscape. HubSpot offers a comprehensive solution to many of these challenges, but we know that securing budget approval can be a daunting task.

This guide will help you navigate the process of proposing HubSpot during your strategic planning discussions and ultimately gain that crucial budget sign-off.

1. Why is HubSpot an effective choice for Credit Unions?

We often get asked why HubSpot is the best platform for credit unions, and the answer is simple: HubSpot grows with you. It's a one-stop shop that you won't outgrow. Once you build and onboard HubSpot properly with a solid foundation, you'll have it for life, and it will continue to evolve with your needs.

Key benefits include:

• Seamless integration across departments
• Ability to handle all credit union data
• Flexibility to start small and scale up (we call this the "crawl, walk, run" method)
• Support for credit unions' unique needs and multiple systems

2. What key benefits should I highlight when presenting to your Board?

When pitching HubSpot to your board, focus on these critical points:

• Consolidated Reporting: HubSpot puts all your reporting in one place, under one umbrella.
• Proven ROI: With proper data implementation, we can show the credit union's true ROI based on budgets from marketing, sales, customer service, operations, and all other departments.
• Comprehensive Financial Overview: We can show the board exactly what was budgeted, what was spent, and what was made.

3. What metrics should be focused on when proving HubSpot's value?

When demonstrating HubSpot's value to your board, concentrate on these key metrics:

• Profit margins
• Year-over-year and month-to-month ROI numbers
• Campaign-by-campaign performance
• Department-by-department breakdowns

We can create custom board reporting that shows these ROI numbers in a most relevant way to your credit union.

4. How can I communicate HubSpot's benefits without overwhelming the board?

To avoid overwhelming your board with technical details, we suggest using familiar credit union terminology. Think of HubSpot as the single source of truth, the same way you think of your core system. HubSpot has different hubs (marketing, sales, service, operations) that generate useful information for each department.

Emphasize how HubSpot can:

• Bring all departments under one umbrella
• Remove internal silos
• Improve interdepartmental understanding
• Help achieve credit union goals like generating new members, increasing loans, proving ROI, and increasing share of wallet

5. How can I address common misconceptions about HubSpot?

Be prepared to address these common concerns:

• Cost: Demonstrate how HubSpot can replace multiple existing systems in your tech stack, potentially saving money in the long run.
• Data Integration: Explain HubSpot's robust integration capabilities.
• Usability: Emphasize the importance of proper onboarding and vendor support. It's crucial to have a partner who knows your industry to help you onboard for at least the first year to 18 months.
• ROI Concerns: Share success stories and ROI potential from other credit unions.

6. Preparing your HubSpot Proposal

We recommend the following steps:

1. Conduct thorough research on available options
2. Meet with internal stakeholders to understand their needs
3. Evaluate potential vendors based on industry knowledge
4. Include all relevant parties in the decision-making process
5. Prepare a comprehensive budget breakdown

Meet with every department involved, as well as your direct boss or CEO. Start conversations about what it would be like to adopt this tool, what their biggest needs are, and where they feel they're falling short.

7. How should I align my HubSpot proposal with our credit union's strategic goals?

To align your proposal with your credit union's strategic goals:

1. Tie the proposal to your strategic planning and budgeting processes
2. Clearly outline costs for different HubSpot packages and implementation options
3. Prepare a 12-month cost projection
4. Demonstrate how HubSpot aligns with long-term credit union objectives

We suggest using a "good, better, best" spreadsheet to break down costs and allocate funds for different scenarios. This will help you present various options that fit different budget levels.

8. How to I overcome resistance from the Board?

If you're facing resistance, here's our advice:

1. Focus on long-term ROI potential: HubSpot will give them the ROI numbers. If they're patient and allow the data to accumulate and the tool to work, they will see the return on investment.
2. Emphasize the importance of being forward-thinking: We're not just in the digital age anymore; we're in the age of AI. Things are moving at the speed of light.
3. Highlight the necessity of advanced technology to attract younger members: Your target market (18 to 34-year-olds) is all about tech. If it doesn't live on their phone, it doesn't exist to them. You have to meet them where they are.

Conclusion:

At WebStrategies, we know that securing budget approval for HubSpot may seem challenging, but by focusing on its long-term benefits, aligning with your credit union's strategic goals, and addressing common concerns, you can make a compelling case.

Remember, if we're not forward-thinking, we're going to have problems in the long run. By investing in HubSpot, you're not just upgrading your marketing tools – you're future-proofing your credit union.

Need some help? Looking for advice on pricing, strategy or want to find out the possibilities with HubSpot for your credit union? - Book in a call with myself (Kristin Harrison - Director of Business Development. 

More Resources:

We have created a 60+ page detailed guide especially for Credit Union Marketer's looking to implement HubSpot. Would you like a copy? Just click below!