Yamini Rangan: Yes. In terms of the second part of your question on how we balance the power and ease, we just have to do it carefully. And we have conversations with our products and UX leaders and they always are like, “Hey, you really want us to have a consumer-like feel at the lower end for SMB, but you want a sophistication of really amazing products at the top end”. And the answer is yes. We want you to do that. So that is a feature, not a bug in terms of what we’re asking you to do. And so what has happened as we have implemented our bimodal strategy is we understand that in order for someone to get started very early in their digital journey. It just needs to be super simple, very intuitive take 60 minutes to set up a website, take 60 minutes to open up and unbox CRM and get going on it, and we want that experience.
In fact, we’ll keep improving that experience. And that actually plays a lot as we continue to build sophisticated features. And internally, we talk about opinionated customization. So a lot of software typically ends up becoming unwieldy because the customization takes over. And internally, we really talk about opinionated customization and how do you deliver something that is simple, opinionated but really, really powerful. And that’s super intentional. Huge kudos to our product and UX organization. And Dharmesh, feel free to add.
Dharmesh Shah: Yes, one thing to add here is that the — one thing that we’re most proud of is that we didn’t wake up a month or a go. So it wouldn’t it be nice to have an easy-to-use product. We’ve had 17 years of conviction around SMB. We deliberately chose it, and we’ve been working for those 17 years to kind of maintain that ease of use even as we add more power to the top end. And this is where the bimodal strategy really shows up. So this is not an optional thing, right? It was like, “oh, it would be nice to have an easy-to-use product”. We kind of force our hand and we kind of make ourselves have that discipline because if we could not keep that ease of use there, the bimodal strategy just would not work. So it’s 17 years of effort by the product team to continue to drive that ease-of-use while continuing to kind of specification on the top end. I’m super proud of the team.
Operator: The next question comes from the line of Tyler Radke with Citigroup.
Tyler Radke: I’m curious on the upmarket and enterprise momentum that you’re seeing. If you could just kind of comment on what you’re seeing for Q4, especially as it relates to some large renewals that you’re seeing at an incumbent. Are you seeing similar sales cycle issues and challenges and expansion. But if you could just kind of compare and contrast what you’re seeing up market relative to your core customer base.
Yamini Rangan: Tyler, I think it’s a good question. In terms of upmarket, the customer trends are very consistent with what we have broadly said, which is when I look at the pipeline, we look at upmarket customers, there’s a lot of engagement, there’s a lot of interest, especially as customers are looking to consolidate on fewer platforms and optimize their spend. We come into the picture, the thing is it does take a few more conversations, few more demos, few more decision-makers in order for them to get approval. But maybe more broadly, if I step back and think about our upmarket momentum, we’ve been focused on upmarket for more than a few quarters, both from a product as well as from a go-to-market perspective. our product has gotten much better, and it’s meeting the needs of upmarket customers with more customization, more admin features.
In fact, there’s even more that’s coming up that helps our product be easy and powerful. That’s a differentiator. The perception of market has also clearly improved. We are gaining momentum, not just within the marketing organization, but other parts of the organization and our ability to co-sell with partners and deliver value to customers upmarket is also great. So there is momentum both on the product side as well as customer driven, but we continue to see a very similar trend up market as we have seen in the bulk of HubSpot customer track.
Operator: The next question comes from the line of David Hynes with Canaccord.
David Hynes: Maybe another one on Clearbit. The pricing appears to be volume-based. There’s not a ton of color on their website. Can you give us a sense for like a range of potential spend that your average customer might generate if they were to adopt Clearbit? And I guess, like, is that current pricing convention, how you plan to fold it into HubSpot? Any color there would be interesting.
Yamini Rangan: Yes. Thank you. This is Yamini. I’ll start. Well, the deal still needs to go through the regulatory approval process. It can take a few weeks or longer. So between now and closing, we’re not digging that deep there, nothing changes. Once it closes, you can expect a couple of integration phases where we’ll share a lot more about the pricing strategy. But the initial phases, we’ll look to get Clearbit data into our customer base. And Clearbit is already in our app market. They already have an integration with HubSpot. They’ve already been working with our customers. So I think it will naturally continue with what they currently have. And then medium term to longer term will more seamlessly integrate their data into HubSpot’s products and use cases.
And again, our vision is really how do we accelerate our customer platform with this data. And so we’ll be very thoughtful and both in terms of pricing strategy, but also go-to-market. And we’ll share a lot more once the deal has closed.
Charles MacGlashing: Thanks, Yamini. I think we’ve got time for maybe one more question. I know we have a bunch of people in the queue, but time for one more.
Operator: Absolutely. The last question is from the line of Ryan MacWilliams with Barclays.
Ryan MacWilliams: Just on your contract duration, are you seeing any customers at this point just from 1 year to monthly contracts? Just asking about the gap between the constant currency revenue growth and the constant currency billings growth? And then are you also seeing any differences in growth contribution from your direct sales force compared to your channel ecosystem this quarter versus the quarter prior.
Kathryn Bueker: Yes. Thanks for the question. We have been talking about duration for a number of quarters now as we talk about billings. And what we’re seeing this quarter, what we saw in Q3 is very consistent with what we have been seeing for quite a bit of time now, which is a slight reduction in overall billing duration of the customer base. So nothing new there In terms of — I’ll just — I’ll it close out in terms of the partner versus direct contribution, again, very similar. Partners continue to represent in and around 40% of the contribution to the business. They are an important channel for us and will continue to be so.
Operator: There are no additional questions left at this time. I will now hand it back to Yamini for closing remarks.
Yamini Rangan: Thanks, everyone. I really appreciate all the effort by our employee partners, and thank you for your support. We’ll speak to you all in the New Year.
Operator: That concludes today’s conference call. Thank you. You may now disconnect.
