• Part 1

Folks in here, if you wanna go ahead and kick us off.

Yeah, sounds great to me. Uh, I think we are all good to get started, so. Uh, before anything else, couple of intros, uh, for you, those of you who were on the managing retention and web uh in HubSpot webinar. Uh, welcome back. Uh, glad to see you again for everybody else, welcome for the first time, uh, and no worries at all. We're gonna kind of quickly recap what we discussed on that webinar as well. We'll be sending out resources afterwards, but basically, the three of us. are here today to discuss an ongoing conversation that we're having, which is how do we both manage the processes and the calculations to calculate uh net revenue retention in HubSpot. So for reference, the three of us that will be kind of leading the effort today. uh, first we have Colt from the DemandGen and marketing team. He is the one that put this all together, so Colt, big thanks to you. Um, I am Isaac. I am a strategist on the RevOps side for RevPartners, um, and I am planning on executing this webinar, uh, with one of my partners as well, so don't worry, uh, the doctor is getting a taste of his own medicine here. Uh, and then last and certainly not least, we have Shadab and big thanks to Shadab. He's the one that engineered this entire uh mad scientist experiment that ended up being the net revenue retention in HubSpot. So no worries. I'll be doing a lot of the talking today. Shadab is gonna be here answering your questions as well. So, uh, anything you can think of that might challenge him, uh, go ahead and throw it in the chat. He'll be more than happy to answer. Uh, and with that, I think we can just jump right into it. So, Essentially, we want to start today by recapping briefly what we discussed last time. We'll then jump into what we're covering on today's session and then last of all, uh we'll kind of give you a bit of a cliffhanger for the second part of this webinar, which is coming in January. So, first and foremost, uh, an overview of last time. Basically last time the topic was the processes and the strategies behind getting to that final payment, right? So renewal time comes up, whoops, I just clicked something there. There we go, we're good. Uh, renewal time comes up. We need to know who we need to have involved, what processes we need to have in motion, and what strategies we can use to get people to that renewal, get them to upgrade, minimize, downgrades, and churns. That was the subject of our previous webinar. So that included talking through pipelines, what automations are relevant, uh, what data can we use on the score side to see how good we're doing with a lot of our different customers, and then last of all, uh, what's the team we need to be involved. If you'd like to review that, we will include that in this slide deck so you can take a quick look afterwards at what some of those strategies might have been. We're always more than happy to answer any questions you might have. On to today, so. What we're gonna be covering today is the fundamentals and set up. You could say the groundwork of managing net revenue retention in HubSpot. So that's gonna start out with what were the types of companies that we were thinking through that might need to manage retention differently, right? So, uh, what are the tools that we're using? What are the different calculations we'll need? We'll kind of break that out into three categories for you, so you can see, generally speaking, what path you need to go down for your specific setup. Uh, second of all, we'll talk through what the specific tools are. Quick spoiler for y'all, that's gonna be coefficient, which is essentially a workflows tool for Excel and Google Sheets, and then also your accounting system. Third, we'll talk through what the data is that we need in order to set up that groundwork. So what are the specific data points we'll need to bring in from the accounting system and from your HubSpot. Uh, and then we'll get right into the action. So number 4, it's gonna be, we're going to talk about how do we sync invoices into HubSpot and get the bookkeeping software if it's not already connected, connected into your portal as well. So that then we're able to move that data over into a Google sheet leveraging the power of coefficient to basically transform that data into revenue snapshots that we can then use to calculate revenue retention. So, Big picture here. What we're doing is we're gathering all of our tools together, we're syncing that all into HubSpot, moving it into coefficient, doing some calculations. Part two, we're gonna actually take those uh data transformations in coefficient. We're going to perform the necessary calculations to then move that data back into HubSpot. We're then gonna take all that invoice data, all that revenue per customer data. We're going to transform that into net revenue retention reporting and calculations within your HubSpot. So you're going to end up with both a dashboard and then also a sheet that tells you month over month, here's what my churn is, here's what our upgrades are, net new, downgrade, etc. etc. finally calculating net revenue retention. And then the last thing that we'll think through today, or sorry, next time is gonna be, all right, my tech stack is a little bit different than what we detailed on this webinar. What do I need to do differently? So this is going to deal with some customizations, we'll sort of explain uh the different use cases that would look different and sort of set you up well to go off from there on your own. All right, before we actually get into the fun stuff, uh, important to figure out why we are here. So, what is net revenue retention? Uh, net revenue retention, if you take a look at the bow tie model, which we'll be reviewing here in a moment. Basically starts at the point of the sale closing on that second half of the bow tie model. So, the sale has closed. We now have a recurring revenue customer. Uh, how do we calculate over time their upgrades, uh, downgrades, any expansion that we might have into that account? That's really what net revenue retention is. We're looking to get the numbers behind all of. Those different account changes and then roll those up into the company's overall number, which is basically gonna say, all right, here's how well we're doing with expanding accounts, minimizing churn and downgrade, uh, and then here's our overall growth rate and our net revenue retention. So we're really taking all of that data that we work so hard to procure on the first side, that managing retention in HubSpot, and we're developing the calculations to go along with that. Now you might be asking yourselves, um, as, as many do, uh, why not just replace the old customers with new ones, right? Uh, there are a couple of different answers to that, and I'm guessing you already agree that that's not a good idea because in fact you are here on this webinar trying to calculate net revenue retention in HubSpot, but I'm gonna go ahead and convince you anyway. Uh, a couple of reasons that that that is going to be important. Number one, we all know the old adage, uh, it's less costly to keep an existing customer than to obtain a new one, rather than having to go through the whole sale cycle and, you know, do the demo and explain your product and deal with the problems of the new customer, how much easier is it to just say, hey, How's it going, guys? You want to renew? Great. OK, awesome. I wish it were that simple, but I think you get the point. A lot easier to hold on to the existing customers. Uh, number 2, if you have a down month and you're essentially banking on having new customers fill that pipeline and just fill your revenue for you, you're in a really bad place if you're not also holding on to existing customers, right? Uh, we want to make sure that we have not only that safety net, but also, also that engine for growth, uh, that awesome, we can rely on net new bookings for The growth side partially, but we also know that our existing customer base is reliable. We can count on them to continue renewing and expanding their accounts. We got that safety net. Number 3, talk to your onboarding teams about whether they're happy when you are losing customers and onboarding new ones constantly. Uh, spoiler, they won't be. It's really, really difficult for your internal teams to deal with new customers and losing old ones constantly, and that ends up being really taxing on those team members. And then finally, let's get to the good stuff here. If you're really hoping to grow continuously, uh, every company has a total accessible market, right? And that total accessible market has a limit. If you're saying to yourself, we're going to just keep getting new businesses and not using the old ones to continue spurring on that growth month over month over month, you're gonna cap out there even if you have a 100% market acquisition rate, right? So, uh, the best way to grow is to expand on current accounts. To get those new accounts, but also equally as importantly, holding on to the ones that you already have. Something to think about here. Uh, there are gonna be sort of two ways you can think through retention. We're going to be focused on the net side of that, but I want to also bring up gross dollar retention. These are related equations. Uh, there's one key difference here, which is that gross is going to say, all right, here's how much we had at the beginning of the month, and here's how much we lost. So we're uh taking churn and contraction into account with gross dollar retention. On the other hand, with net dollar retention, we're also taking into account how much we're expanding on our existing accounts, right? So the difference here is really if you're saying, all right, tell me how much we lost of the existing accounts we already had, gross dollar retention is going to accomplish that for you. If you actually want to see the total amount of change within your existing accounts, net dollar retention is going to be what you want to see. Just something to think about when you're performing these calculations. All right, so now let's get into details about what the full journey of calculating net revenue retention in HubSpot looks like. The first thing we're gonna do, we're going to sync invoices uh from your finance system, your accounting system into HubSpot. You may already be doing this, that's great. You're saving yourself a step. Number 2, we're going to take all of that data and we're going to put that into those coefficient powered Google Sheets or Excel sheets. We're then gonna filter out all the non-recurring data because at the end of the day when we're making these calculations, things like onboarding fees, late fees, you know, adjustments like that, they're important to revenue, they don't really matter for net revenue retention. Um. The next thing we're gonna do is we're going to transform those calculations into a beginning and an end of month calculation for every single customer that you have, right? So at the beginning of November, what was this customer starting with? What did they end with? December, same thing. We want to be able to have those snapshots so that we can then push that data back into HubSpot where we can perform the roll up revenue calculations. That's gonna tell us the beginning of every month, what did we start with, the end of every month, what do we end with churn, expansion, etc. etc. The next thing we're going to do is perform a little bit of automation wizardry. We're gonna essentially factor in the uh the churn factor there before we then create these snapshots in a custom object in HubSpot. So basically that's going to be where we then get those really pretty lists that tell us churn. Upgrades, downgrades, all these different factors leading into net revenue retention and lastly we'll generate some cool dashboards that are going to allow you to see this, uh, in a way that's going to allow you to gather conclusions from the data. So these last two points here, creating the snapshots and the recording dashboards, these are really the end results and kind of the gold cup of uh when we are, you know, doing the net revenue retention process. And what does that mean? Uh, at the end of the day, we're looking to take those beginning and ending MRR snapshots. What does every customer start with at the beginning of the month? What they end with, uh, and we're gonna break it out into these categories. So you know how much more net new did we acquire this month? How much do we expand upon our existing accounts? How much do our existing accounts contract, how many customers do we lose, and what's the monetary value of that? And the end result there is we end up with a net revenue retention. We're able to see clearly in HubSpot from the transactions side. Here's how our accounts grew, contracted, were added to, etc. OK, it's a quick refresher onto the bow time model. Um, the bow time model is going to look a little bit different for a recurring revenue company than it would for a sort of a non-recurring revenue or a usage-based company. If you want to review that, you could take a look at that in the slide deck from the previous call that we'll send out after this. But basically when we talk about net revenue retention, we're looking at this piece onwards. So it's That new cross sell upgrades, downgrades and churn, right? Uh, this is going to tell us how much we're holding on to those different categories, um, where we can make improvements as well. So just when you're visualizing this along your bow tie model and your customer journey, keep in mind that we're really talking about from here downwards. So I want to stop for just a moment here, um, take a quick poll break, uh, and we're gonna want to know just from what we've discussed so far, now that we know what net revenue retention is, um, who's actually calculating net revenue retention up to this point? Where are you doing it? If you are, uh, there should be a poll that's now available in the chat. So go ahead and take a second to respond to that and love to see the results. Awesome. OK, looks like our results are coming in here and what I'm seeing is that a lot of people are calculating this in spreadsheets. Um, I'm so sorry to hear that. Uh, luckily, that is something that we're going to be solving for today, right? It's how to move that data back into HubSpot, get into a more sort of processable format, um, and the end result is. It, it's just gonna be a lot easier to build reports on. It's going to be easier to visualize that through these custom objects. So a good split here between people who are doing it already in HubSpot, people who are doing it in their accounting system, spreadsheets, and then, of course, some people are not yet tracking it. Completely understandable. It's a tricky thing to do. That's why we're here today. So, um, very interesting results. Now I want to go ahead and move on to talk about what are the three categories of companies that we're going to be addressing with this motion. So keeping in mind that category 1 is really what we're focused on today, uh, which is going to be that you are using an accounting software that natively integrates with HubSpot. Maybe it's QuickBooks, maybe it's Xero, maybe it's Chargebee, uh, these are just a couple of different options, but basically you're able to seamlessly connect your accounting software to HubSpot. And then you're able to use coefficient for those data transformations. So that's gonna be the easiest, not to say that the other two categories can't be done, but that's gonna be the most sort of flawless, seamless process. Um, category number 2. You're gonna use coefficient for those transformations, but you're not currently connecting or can't connect uh your accounting system to HubSpot invoices. It can still be done, couple more steps, but um definitely still a process that is able to be accomplished using coefficient. And then third, if you're not able to use coefficient or HubSpot invoices, this can definitely still be done as well. Um, it's just gonna be the heaviest lift. So that's something to keep in mind as you think through uh calculating net revenue retention, uh, that, you know, this is going to be the most customized bespoke solution, um, but that does not mean it cannot be accomplished. So, um, think about which of these three you might be currently falling into. We're gonna take one more pole break here, uh. Just want to see kind of where people are divided along these three different categories. What I'm seeing so far is that The largest chunk of of us are in category 3. again, that's totally fine. That is why Rev Partners exists, right? It's to help with things like that. So, um, if you are in category 3, I would say, you know, could definitely be useful to reach out to your strategist or just reach out to us in general if um if you have not yet connected with with one of our strategists, and we'd be more than happy to kind of talk through what that process would look like. It's just gonna be a bit trickier to kind of templatize that, if that makes sense. So awesome. OK, thank you for your participation. Talking through what this is gonna look like today. Category one is basically going to involve taking all of your information from your accounting software, invoices, um, and syncing that with HubSpot invoices, so that now all of your invoices are in your CRM. We'll then take that information, we'll sync it over to Google Sheets, we'll perform the calculations we need to, uh, using coefficient. From there we'll then basically transfer that back into HubSpot, create those revenue snapshots that we need, and then we'll roll that up into our net revenue retention calculations and create dashboards with that information in HubSpot as well. So there's really 3 phases here, right? Taking it, syncing it to HubSpot, doing those transformations, syncing it back, and then coming up with our final product here, which is the snapshots and the reporting dashboard. All right, awesome. Now that we've talked through kind of what the data model will look like, we want to get into the actual steps of setting this up, getting your calculations into coefficient, and being ready to rock for actually doing those calculations uh in the next section. So, without further ado, let's talk about coefficient. Uh, coefficient is a really, really cool tool and basically what it lets you do is say that you're currently Exporting your data from HubSpot into a CSV file, uploading that into a Google Sheet, doing your calculations there. That works. It's also not live, so every single time you want to add more data, you're just gonna have to keep doing that again, right? The thing that coefficient lets you do differently is it lets you essentially take that data and sync it as if it was an integration with HubSpot directly into that Google Sheet so that you now have live data feeds within those Google Sheets where you can perform those calculations. And then with coefficient, you can also perform workflows within those sheets thanks to the connection with HubSpot. So basically what we're doing here is we're saying let's bring the data live all of those invoices into a Google Sheet, taking care of what we need to with the uh Excel or Google Sheet calculations and then moving it back into HubSpot seamlessly. You don't have to do any imports or exports, it just does it for you. Under your bookkeeping software. Um, this one I'm assuming you probably already know which one you're using, but basically, here are a couple that sync with HubSpot super easily. Um, there are others as well. I would encourage you to either consult with your strategist or do some research in the app marketplace to see what that sync might look like, if it does already exist with HubSpot, but basically this is what we're gonna be using to sync those invoices over, right? An important detail here about net revenue retention is that we're not going to be basing this on closed one deals, right? So theoretically, um, if you wanted to build a report on how much revenue you have in closed one deals, you could do that. That doesn't necessarily correspond to the amount that you've actually received from your clients or your customers. In either payments or invoices, you know, these sorts of like more concrete payment methods. So that's why when we're calculating net revenue retention, we don't just want to see what we're kind of working with in closed one deals, but we rather want to connect the accounting software so that we have the hard financial data and then use that for our calculations. So, a couple of important questions that you may want to consider. Um, some of these you may already know, others you might have to do a little bit of digging to uncover, but basically, number one, what are you using for accounting? And then number 2, does that directly connect with HubSpot invoices? You want to figure this out so you can see how easy that initial sync is going to be. Uh, maybe you can just do that, you know, with the click of a button. Maybe it takes a bit more uh integration magic. Either way, we want to make sure that we're able to sync that information over to HubSpot. And then last of all, is that invoice sync currently live, right? Are we already using that? Cause if you are, then you're really saving yourself a good bit of time, just gonna need to connect coefficient and move that data over. We next want to consider what is the monthly invoice volume? How many invoices are you currently, you know, sending out to your customers in total, and then how many per customer are you generally sending per month? This is just going to give you a good idea of how heavy a lift it's gonna be to perform those calculations in. efficient because it's basically gonna say to you, OK, for every, uh, for every customer we have 3 invoices. We're gonna need to break that out into 3 invoices within the coefficient sheets which we can then roll up to a revenue snapshot. So just something else to think about there. Then last of all, for the sake of simplicity, how many calculation properties are you currently using in HubSpot, and how many paying customers do you currently have? This is just gonna tell you basically when we reimport that data, how difficult is it going to be to kind of You know, transform that data and configure the sync properly so that when we're moving things out of coefficient back into HubSpot and we're configuring the sync within our settings, um, what's sort of the lift there in terms of just prepping the data so it comes into HubSpot in those custom objects, um, as easily as possible. OK, onto the actual data sync itself. So this is what I would call the exciting part. Um, it's definitely the hardest part as well, but it's the part that's gonna get us closest to being able to calculate net revenue retention and HubSpot. So, first step here, we're gonna do the initial invoice sync between your accounting software and HubSpot. So we're going to start out by basically getting all of that data, classifying the items on your invoices in HubSpot as either monthly recurring revenue or non-recurring revenue, could also be annual recurring revenue here. The goal is basically to say, all right, we have Items that we want to include in net revenue retention recurring, and items that we do not want to include in net revenue retention, which will then want to filter out in coefficient. One more thing to think about here is, if you want to break things out by product types or service types, you can certainly do that. We do want to point out that the more product and service types you have, it's gonna become a sort of more difficult to break those things out in coefficient. It definitely can. done. Our recommendation is that if possible, you essentially limit that so that you have, let's say 2 product types max that you're segmenting into in coefficient. Um, and if not, there are other workarounds there. It's just gonna make your life a lot easier to sort of break those out into the most general categories. When you initially sync your bookkeeping software, uh, the three things that you're gonna want to sync into HubSpot first are gonna be your contacts. So just make sure that, you know, the purchasing contacts that you have in your accounting software are syncing into HubSpots that you can calculate on those invoices who's actually doing the purchasing. You want to also have that two-way sync um with HubSpot for the actual invoices tool itself. Obviously we're gonna need that info and coefficient. And then third, uh, we're going to also want to sync over products. With that said, Uh, products, it can be a little bit tricky. We don't want to mess with any of the historical data. So, uh, I would definitely recommend for this stage of the sync when you're syncing over your products, consult with your strategist or your rev ops team, make sure that the products and line items you have in HubSpot are aligned to the ones that you have in your accounting software. That way there's no discrepancy there, um, and we're not messing with any of that historical data, especially in your uh accounting tool. The second part here, and this is the part where we kind of want to split this up into two sides, uh, is gonna be the company sync, right? So if you have Operations Hub Pro, and we can detail the instructions for this, uh, you know, in a bit more detail uh as well. But basically, if you have Opshubb Pro, you're gonna want to make sure that the invoice. are attached to the correct companies by using custom code in your workflows. That's the easiest way to do this truthfully, um, is just to make sure that when you're syncing over those invoices, they're aligned to the correct companies using workflows. If you don't have Operation Subpro and therefore those custom coded workflow actions aren't available to you. Uh, we would recommend using make scenarios, um, essentially, you know, using make to develop kind of a custom sync there, uh, where you're able to associate the, uh, companies and invoices properly, but this is a step in which we would recommend using quite a bit of caution just because again, um, when we are syncing your bookkeeping software to HubSpot, we want to make sure that those invoices and companies are aligned properly. OK, now getting into the coefficient setup, and don't worry, by the way, we are going to take a look at what this data will actually look like in coefficient as well. Just want to make sure we have all the preliminary steps set up here first. So you're gonna want to set up and launch a coefficient account. It's pretty easy to do. Basically just want to, uh, essentially, you know, get the app, sign up for it, and then once you've done that, you want to go ahead and in Google Sheets, there's going to be a bar that says coefficient. You can set that up now. So it basically is syncing over your company name, your company ID, the line item ID that you are syncing over for that purchase. The day the invoice was issued, um, the number of the invoice. The name and then also the unit price. So these are gonna be the columns that you're gonna want to sync over into that Google sheet. You want to make sure that it's in that order, just based on the formulas that we'll be using, um, it's important that all this data is aligned properly. So at that point you then go ahead and say import from HubSpot, you're going to say, all right, my HubSpot portal, pull in the data that we just referenced, right? So the invoices, the company's contacts and products. Um, last of all, that specific information, um, on the invoices objects, so the company name ID, invoice date, invoice number, all these things, make sure that they're aligned properly with these columns so that when we pull all of that data in the calculations that we're doing in Google Sheets are able to function properly. The second step here, uh, and we're going to go over this in an actual Google sheet in just a moment. We're gonna want to break things down by line items first. So we're going to organize things first of all by product category, and second of all, by line item to make sure that every single thing that a company purchased is accounted for separately. Why do we want to do that? Because at the end of the day, when we're filtering out the non-recurring items, it's much easier to parse that data out if we have this product. MRR this product NRR and then we're able to just remove the NRR products from our calculations. So basically breaking that down by products and line items is super helpful and just making sure that everything we want to remove from net revenue retention in general is just able to be parsed out in that Google sheet before we bring it back into HubSpot. Last couple things to think about here. Um, when we are parsing out the recurring versus non-recurring revenue and then we're segmenting out based on the line items, um, this is also going to be super important for the calculations we perform when we're building those, um, you know, churn and up upgrade, downgrade calculations in HubSpot. Um, being able to say these are the line items that people are purchasing, uh, this is where the upgrade occurred, uh, and then moving that into the snapshot for beginning and end of month for every, uh, every company will allow us to have visibility into our data so that we can draw conclusions about, you know, product purchasing, upgrades, downgrades, uh, in the future. And then the second point there is basically. The end result of this is In a separate sheet, we're then going to have calculations that say, OK, based on all of the invoices, right? So let's say I am purchasing $250 worth of recurring service for one product every month, and then the next month I go and purchase that $250 plus an upgrade. of 50. Well, we want to be able to see that my starting MRR for that month was 250 and my ending was 300, right? That way, we're able to see what were the upgrades, what were the downgrades, um, and we're able to pull that data back into HubSpot, build out those calculations in the custom objects. OK, so the next thing to talk through here is what these calculations actually look like, cause I've been talking about them for a while now. So I'm gonna go ahead and share my screen and let's see. So cults, uh, are you able to see what I am sharing? Yes, sir. Awesome. OK. So basically, when we go ahead and calculate these different line items in Coefficient. What we're doing is we're taking all the invoices, like we said, we have the company name, ID, line item, invoice date. These are all the columns that I was just talking about wanting to sync in and what you'll see is that These are different products that they're purchasing on different days, right? So we have different dates, different invoice numbers, maybe there are some invoices that contain multiple products, that's totally fine too. And then we're also breaking it down by revenue type, right? So we have either recurring revenue or non-recurring revenue. And the way that we're gonna do that basically is once we've imported this, there are a couple of sheets on this page that are going to detail for us first of all. What is the line item category for each product? So, OK, Cloud Syncro, that's a recurring revenue uh item. We have Quantum Devro, that's non-recurring revenue. So with these sheets, what we're gonna do here is basically just filter out all the non-recurring revenue. Only these things are left, and that's what's then gonna be fed back into this custom object and HubSpot. If you are filtering things out by product category. In this case, I've only done one, just software. If you have multiple, that's totally fine too. It's going to help with segmentation to have those included on this sheet and basically this is going to be calculated for you. So when I put these line items in and I say, OK, our revenue type is NRR. This calculates for us this additional sheet, the information uh on product type. So in other words, we have NRR and we have software. When we imported those invoices. We can now say, all right, these are our different product types here, these are our different line items, just make sure that that aligns with your entire uh product library, which you're offering, so that we're not missing out on any products when we do these calculations. That's just sort of something to think through. But anyway, going back to this page here, we have all the different invoices uh from one month, we have from the next month here, so we have, you know, November, and we have December. So with all these invoices and with the company names and the line item IDs, what we end up with here is what we're calling a revenue file. And this revenue file is going to tell us, all right, at the beginning of this month, here's what they were spending, at the end of this month, here's what they were spending. So we're able to calculate over time the change of some of these customers. You can see here that at the beginning of November, a lot of these customers were, you know, paying for these products and then some of them churned. Maybe there was a downgrade somewhere. Um, this is going to then be able to be rolled up company by company into those revenue snapshots so that you're able to see, here's what happened in October with expansion, churn, downgrade. Uh, etc. And then here's what happened in November. The end result of this is being able to calculate that net revenue retention, right? Here's where we, uh, expanded this month. Here's where we did not expand. You'll be able to have those numbers finally, that will tell you, um, exactly what your net revenue retention and your MRR growth rate were every single month in that custom object. OK, so I'm gonna stop sharing that and if we could reshare the deck. OK. So, I think the last thing we want to talk through here is what our next steps look like for next time. So we dealt with all the foundations today. We did an overview of the calculations being done in the coefficient sheet. What still stands ahead of us. First thing is, we're going to transform those uh calculations into revenue snapshots, meaning, you know, getting an ending, we're gonna push that back into HubSpot, uh, and then in HubSpot we're gonna go ahead and build out those revenue calculations. So we're gonna take all of that data, what we had in the revenue files sheet, and we're going to put that into a table that basically tells us, here's where we expanded for the month, here's where we churned, here's where we downgraded, here's our net revenue retention. We're then going to implement that churn automation to factor in churn because those accounts obviously aren't with the company anymore. We want to make sure they're factored in to those equations. And then last of all, once we've built up that net revenue retention snapshot, we're going to generate reports that will tell us uh more information about the data we've pulled in from coefficient. So essentially, we did the setup today, we did the initial calculations. The next step is we're going to put that data back into HubSpot, do some more fancy calculations to put those into snapshot objects, and then we'll have our reports and that, ladies and gentlemen, is net revenue retention in HubSpot. So, I know Shadab has been taking care of questions in the chat throughout this uh this session so far. If there is anything else that we can answer, feel free to put that in the chat now and we are more than happy to, uh, clarify any of your questions.

Don't see any new questions, but a lot of uh rounds of applause. So good work Isaac and Shadab.

Thank you very much. Yeah, and uh, for anyone that's saying, well, come on, show me the rest of it, uh, I agree. You you you're gonna have to join us in January and uh Shadab will be piloting that one. We'll talk through the actual calculations themselves, uh, and by the end of that session, you should have a clear idea of what it looks like to take your initial calculations from your invoices, move them through HubSpot coefficient back into HubSpot and get that net revenue retention. Um, so thank you so much to everyone for joining us today.

Yeah, and, um, one quick note, everyone who did register for this, you'll be automatically enrolled uh for the next event on January 9th, so be on the lookout and uh we'll have this video recording and the slide deck out in just a few hours. Awesome. Great work, Isaac Shadd. Thanks so much and uh we'll see everybody on January 9th.

Thanks everyone.

Oh, I heard it looks like we do have one question, um, from if you wanna tackle that.

Uh, no, uh, you don't have to use coefficient. Basically, the idea is you transform your data somewhere. Uh, you have to get your numbers right, specifically the beginning MRR. So the system, whatever you're using, either a spreadsheet or an external database like a snowflake, big query or whatever you're using. It has to look at all of those stuff, pull that back in and do the transformation for you so you can do it in external database if you want, but for small scale companies, if you have, you don't have a data structure or like a, you know, infrastructure for that, uh, just use this and, and pilot this and test it out, uh, so yeah.

Great. All right, everybody. Well, uh thanks again for attending and uh we'll see you on January 9th.

Thanks everyone.