HubSpot is a big name in the sales and marketing world. If you haven’t used one of its products, you’re likely to have found yourself on its website via one of its blog articles. In fact, it’s worth analyzing HubSpot’s very successful inbound marketing strategy and seeing how you can apply it to your business.
But first, back to the data.
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HubSpot owns almost a third of the marketing automation market share – 29.13% to be precise (data provided by datanyze on the 28.10.2020).
That’s a pretty sizable chunk, wouldn’t you say?
How long has HubSpot even been around for, you might ask? Well, it was founded in 2006 by Brian Halligan and Dharmesh Shah at the Massachusetts Institute of Technology (MIT). In 2010, it had already grown to an impressive $15.6 million, and in 2019, the company reported sky-high revenues of $674.9 million.
This chart, taken from BuiltWith, gives you an idea of how HubSpot has grown over the years:
It’s interesting to note the sharp increase in sites in 2017. What happened that year? Well, firstly, HubSpot acquired Kemvi, an artificial intelligence and machine learning startup.
It was also named the 7th best place to work by CNBC despite the release of Dan Lyons exposé on the “digital sweatshop” HubSpot was supposedly operating. This didn’t seem to impact on its sales though.
These figures are taken from Ahrefs, and, of course, they will change slightly every month, but it’s interesting to look at these statistics against the market share percentage and that of HubSpot’s competitors.
HubSpot CRM: 68K
Adobe Experience Cloud: 5.4K / Adobe Marketing Cloud: 6.8K
Oracle Marketing Cloud: 2.1K
Salesforce Pardot: 3.2K
|Adobe Experience Cloud (formerly Adobe Marketing Cloud)||11.29%|
|Oracle Marketing Cloud||8.93%|
|Salesforce Marketing Cloud||2.33%|
[data provided by datanyze]
We’ve established that HubSpot is a pretty huge company. In fact, it employs almost 3,400 people (as of 2020).
What’s the secret to its success? Well, a great deal of it is no doubt owed to its very generous free CRM plan, which was launched in 2014 for small-to-medium-sized companies. This plan gives you unlimited users, data, and up to 1,000,000 contacts with no time limit or expiration date – pretty appealing, right?
It’s interesting to note that this freemium approach is also partly the secret to Mailchimp’s success, a company that owns a whopping 62.23% of the email marketing pie.
But offering a free plan isn’t the only reason HubSpot has gotten to where it is today.
HubSpot has worked hard to become an authoritative voice in the digital marketing world, providing detailed information and resources via its blog, online courses, downloadables and webinars – and everyone has access for free! This approach has a name: inbound marketing, and it has done wonders for branding and attracting new customers.
Pair this with an extremely easy to use interface and excellent support and you get happy, loyal customers who will recommend the product to everyone they know.
HubSpot, a publicly traded company (HUBS), has seen its shares gain massively since the beginning of the Covid-19 outbreak. At the end of March, 2020 its net worth was at $5B. It is now worth almost $14B. In just 7 months, its net worth has increased by almost $9B!
What’s in store for HubSpot in the coming years? In light of the fact that we are moving ever so rapidly into a more digital world, it’s likely that more and more businesses will be looking for free CRM software to help them manage their sales and marketing.
That said, HubSpot does have some popular competitors with some appealing advantages.
Check out our HubSpot alternatives article for more information.
Want to see what all the fuss is about? Sign up to HubSpot’s free CRM plan here.