Step-by-Step Guide to Creating a Custom Object in HubSpot

Step 1: Access Custom Object Settings

1.Log in to your HubSpot account and navigate to the Settings by clicking the gear icon in the top-right corner of your screen.

2.In the left-hand sidebar, scroll down to Data Management and click on Objects.

3.Under Objects, click on Custom Objects.

Step 2: Create the Custom Object

1.Click “Create a custom object” at the top-right.

2.Fill in the Basic Information for your custom object:

•Label: For example, “Revenue Forecast Month”.

•Plural Label: “Revenue Forecast Months”.

•Primary Display Property: This is the main identifying feature of the custom object. In this case, you could use “Month” or “Revenue Forecast Name”.

•Object Description: A brief description like, “Tracks monthly revenue breakdowns by jurisdiction, analysts, and hourly rates for forecasting purposes.”

3.Associate with Other Objects:

•HubSpot will ask you to associate this custom object with existing objects. Make sure you associate it with the Deal object so it can roll up into the deal record.

4.Save and Create the Custom Object: HubSpot will now create your custom object.

Step 3: Define Properties for the Custom Object

Now that the custom object is created, you’ll need to define its properties to capture the necessary data:

1.Navigate to Properties:

•Go back to Settings > Data Management > Objects > Custom Objects.

•Find the “Revenue Forecast Month” custom object you just created, and click on Manage Properties.

2.Add the Following Properties:

•Month: This could be a Date Picker or Text Field to identify the month (e.g., November 2024).

•Jurisdiction: A Dropdown Select field where you can list options like “US”, “India”, etc.

•Number of Analysts: A number field to capture how many analysts are assigned.

•Hourly Rate: A number field to track the hourly rate for each jurisdiction.

•Revenue for Month: A calculated field that multiplies the number of analysts, hourly rate, and working days to give the total monthly revenue.

•Deal Association: HubSpot automatically creates an association with the Deal object, but make sure it’s mapped properly to link the forecast back to the deal.

3.Set Conditional Fields (Optional):

•If you have multiple jurisdictions, set up conditional fields so that depending on the selected jurisdiction (e.g., “US” or “India”), it prompts users to enter specific hourly rates and analyst numbers.

Step 4: Build Automation to Populate Custom Objects

Now, you need to automate the creation of these custom objects for each deal.

1.Go to Workflows: Navigate to Automation > Workflows and create a new Deal-Based Workflow.

2.Set Trigger: Set the workflow to trigger when a deal is created or updated.

3.Create Custom Object Records:

•Add the action “Create Record” and select the Revenue Forecast Month custom object.

•In the record creation, set the properties for:

•Month (you can generate multiple records for each month in the forecast period).

•Jurisdiction.

•Number of Analysts.

•Hourly Rate.

4.Add Calculated Fields for Monthly Revenue:

•Use calculated properties (or custom code if necessary) to populate the Revenue for Month field.

•This should multiply the number of analysts by the hourly rate and then by the number of working hours/days (e.g., 8 hours/day, 21 days/month).

5.Testing:

•Create a test deal to see if the workflow triggers the automatic creation of custom object records for each month.

Step 5: Reporting on Custom Object

Now that the custom object is created and linked to deals, you can build reports:

1.Go to Reports: Navigate to Reports > Reports and create a new custom report.

2.Select Your Data Source: Choose your custom object “Revenue Forecast Month” and the Deal object as your data sources.

3.Create a Custom Report:

•Show data such as monthly revenue forecasts, total revenue by jurisdiction, and total number of analysts.

•You can build charts or tables showing revenue breakdowns by month, jurisdiction, and other parameters.

Step 6: Custom Object on Deal Records

For ease of use, make sure the Revenue Forecast Month custom object is displayed on the deal record.

1.Customize Deal Record View:

•Go to Settings > Objects > Deals > Record Customization.

•Add a card that displays associated Revenue Forecast Month objects on the deal record.

2.Ensure Forecasts Are Visible:

•Ensure that monthly revenue breakdowns and jurisdiction-based forecasts are visible in the deal view so users can quickly access the data.

Next Steps

Once you’ve followed these steps, you will have created a demo for the custom object-based forecasting solution. You can now test the functionality and see how this approach supports forecasting and monthly revenue tracking for your client, Allison.