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How Marketers Are Transforming Mounting Pressure, Challenges into Revenues

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Jen Doyle, Lead Author of the 2012 B2B Marketing Benchmark Report and Kaci Bower will guide you through a five-step funnel-optimization process that drive real marketing results to end 2011 with a …

Jen Doyle, Lead Author of the 2012 B2B Marketing Benchmark Report and Kaci Bower will guide you through a five-step funnel-optimization process that drive real marketing results to end 2011 with a bang.

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  • 1. 2012 B2B Marketing Benchmark Report Benchmark Report How Marketers are Transforming Mounting  Pressure, Challenges into Revenues P Ch ll i t R October 18, 2011 October 18 2011
  • 2. B2B Lead Roundtable 1. You will receive a link to the webinar recording  2. 2 Please fill out the post‐webinar survey Pl fill t th t bi 3. View past and sign up for future webinars • B2BLeadBlog com/webinars B2BLeadBlog.com/webinars 4. Join the B2B Lead Roundtable LinkedIn group • B2BLeadBlog.com/Linkedin 5. Connect and share • B2BLeadBlog.com • Twitter @B2BLeadBlog 2#b2blead
  • 3. Today’s speakers About Jen Doyle About Jen Doyle Senior Research Manager at MarketingSherpa covering B2B marketing,  social media and search engine marketing. Jen is the Lead Author of the  2011 and 2012 Editions of the B2B Marketing Benchmark Report, the  B2B Advanced Practices Handbook, and the 2011 Search Marketing  B2B Advanced Practices Handbook and the 2011 Search Marketing Benchmark Reports.  Jen is a speaker at MarketingSherpa and partner events, a  @JenLDoyle MarketingSherpa newsletter columnist, blog contributor, and a speaker  for MarketingSherpa and partner webinars. Her research has been  f M k ti Sh d t bi H hh b instrumental in the development of new media marketing practices,  including the FUEL methodology for B2B marketing effectiveness. 3#b2blead
  • 4. Today’s speakers About Kaci Bower About Kaci Bower Kaci Bower is a Senior Research Analyst with MarketingSherpa. Her  area of focus is Search Marketing, and she’s the lead author of both  the SEO and PPC editions of the 2012 Search Marketing Benchmark  Report and is currently working on what will be MarketingSherpa’s and is currently working on what will be MarketingSherpa s first Inbound Marketing Handbook to be released early next year.  Kaci is also a co‐presenter at the B2B Advanced Practices Workshop @KaciBower where she speaks on the topics of mastering essential lead  where she speaks on the topics of mastering essential lead generation and lifting results.  4#b2blead
  • 5. Today’s speakers About Brian Carroll About Brian Carroll Brian Carroll is Executive Director of Applied Research at MECLABS.  Brian is also co‐founder of InTouch (now part of the MECLABS Leads  Group), a B2B marketing firm and one of the first companies to  provide lead generation services for the complex sale.  provide lead generation services for the complex sale Author of the popular book, Lead Generation for the Complex Sale  (McGraw‐Hill), Carroll is a leading expert in lead generation and hes  @brianjcarroll profiled and regularly quoted in numerous publications. Brian also  profiled and regularly quoted in numerous publications. Brian also speaks to 20,000 people a year on improving sales effectiveness and  lead generation strategies.  5#b2blead
  • 6. MarketingSherpa is a research and publishing  organization serving the marketing community i i i h k i i MarketingSherpa s annual research  MarketingSherpa’s annual research cycle provides knowledge for  continuous marketing improvement  6#b2blead
  • 7. About MECLABS • More than 10 years of research • Over 1 billion emails • 1,300 major experiments • 10,000 sales‐paths tested • Hundreds of publications and conferences • 5 million phone calls • 500,000 conversations  7#b2blead
  • 8. Today, we’re going to discuss: • Key findings of research on 1,745 B2B organizations • How one B2B company applied an integrated nurturing approach that  created a 69% increase in inbound calls • Top B2B marketing opportunities for 2012 • A 5‐step process to optimizing your funnel i ii f l 8#b2blead
  • 9. Research background 1,745 B2B marketers were surveyed on: • Top challenges • Barriers to success • Best practices  9#b2blead
  • 10. Key finding: Challenges growing in pertinence • B2B marketing challenges  Generating high quality leads 74% 78% on the rise year‐over‐year 69% 49% Generating a high volume of leads 44% 35% • Last year’s focus on  Generating perceived value in  41% 2011 37% 2010 q quality has brought  y g "cutting edge" product benefits 37% 2009 marketers back to  Competing in lead generation  across multiple media, from  40% 36% 27% volume this year podcasts to paid search to  … 38% Generating public relations "buzz" 36% 33% • Continual struggle  Marketing to a lengthening sales  38% 41% cycle between quality and  39% Marketing to a growing number of  33% q quantity of leads y p p people involved in the buying  y g 34% process 33% Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey  Methodology: Fielded June 2011, N=1,745 10#b2blead
  • 11. Key finding: Challenges apparent in effectiveness • Perceived effectiveness  Website design, management  50% of all tactics  and optimization 31% Search engine optimization  S h i ti i ti 36% experienced severe  (SEO) 29% declines this year Email marketing 26% 40% Tradeshows 25% 20% 43% • It’s becoming more  Virtual events / webinars 19% challenging to  Paid search (PPC) 16% 23% 2010 2011 accomplish results from  Telemarketing 13% 35% the same activities Public relations 31% 13% Direct mail 22% 6% Social media Social media 16% 6% Print advertising 10% 6% Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey  Methodology: Fielded June 2011, N=1,745 11#b2blead
  • 12. Despite an increasingly challenging environment, Despite an increasingly challenging environment marketers are not optimizing their funnels.
  • 13. Key finding: Marketers must improve funnel  optimization i i i 68% of B2B marketers have not identified  of B2B marketers have not identified their Sales and Marketing funnel Source: ©2011 MarketingSherpa B2B  Marketing Benchmark Survey  Methodology: Fielded June 2011, N=1,745#b2blead
  • 14. Key finding: Marketers must improve funnel  optimization i i i 68% of B2B marketers have not identified  of B2B marketers have not identified their Sales and Marketing funnel 61% send all leads directly to sales Only 27% of those leads will be  qualified at point of conversion Source: ©2011 MarketingSherpa B2B  Marketing Benchmark Survey  Methodology: Fielded June 2011, N=1,745#b2blead
  • 15. Key finding: Marketers must improve funnel  optimization i i i 68% of B2B marketers have not identified  of B2B marketers have not identified their Sales and Marketing funnel 61% send all leads directly to sales Only 27% of those leads will be  qualified at point of conversion 79% have not established lead scoring have not established lead scoring Source: ©2011 MarketingSherpa B2B  Marketing Benchmark Survey  Methodology: Fielded June 2011, N=1,745#b2blead
  • 16. Key finding: Marketers must improve funnel  optimization i i i 68% of B2B marketers have not identified  of B2B marketers have not identified their Sales and Marketing funnel 61% send all leads directly to sales Only 27% of those leads will be  qualified at point of conversion 79% have not established lead scoring have not established lead scoring 65% have not established lead nurturing Source: ©2011 MarketingSherpa B2B  Marketing Benchmark Survey  Methodology: Fielded June 2011, N=1,745#b2blead
  • 17. How can I generate more qualified leads?
  • 18. Case Study: Background Experiment ID: Postcard Mania Location: MarketingSherpa Case Study Library Test Protocol Number: #CS31948 T t P t l N b #CS31948 Research Notes: Background: A B2B direct‐marketing company serving small to mid‐size  k d d k ll d businesses did not sell online, and needed to generate offline sales. Goal: To drive inbound calls which resulted in 19% conversion rate. Primary research question: Which approach will drive the best inbound  call volume? Approach: Implement a lead‐generation effort with a three‐part  Approach: Implement a lead generation effort with a three part nurturing funnel to turn web‐form registrations into inbound calls.  18#b2blead
  • 19. The Problem • Did not sell online, and needed to generate offline sales • Customers becoming more averse to engagement and offline response • Web form leads converted at 5% but web leads who called in converted at Web form leads converted at 5%, but web leads who called in converted at  19% “We were trying very hard to get [a potential  y g y g [ p customer’s] first touch to be a call‐in, which is  harder and harder each year.” ‐Sarah Kicinski, SVP Marketing and Business  g Development, PostcardMania 19#b2blead
  • 20. Multichannel lead generation • PostcardMania drove leads to landing  pages using: • Direct mail • PPC ads • Organic search Organic search • Social media • Lead generation calls to action  L d i ll i included:  • Free postcard samples • Free marketing reports 20#b2blead
  • 21. Relevant, multichannel nurturing campaign • Nurturing tracks included 28  emails on: • Facts about PostcardMania • Marketing tips • Information about direct Information about direct  mailing lists • Calls to action included Calls to action included • A reason to call a sales rep,  signed by the  prospect’s rep 21#b2blead
  • 22. Relevant, multichannel nurturing campaign • Incorporated teleprospecting and direct mail to support nurturing 22#b2blead
  • 23. Staggered nurturing frequencies Immediate  onversion thank you  email and call  email and call from  Prospects  onth 1 teleprospector receive mail  every 3 days Frequency  h 2 drops to once a  Upon co Mo Month week Frequency  Months 4 drops to once a  s 3 ‐ month U 23#b2blead
  • 24. Results 69% increase in inbound rep calls The campaign optimization resulted in 69% more calls The campaign optimization resulted in 69% more calls Inbound  Web leads  Approach calls contacted Original nurturing campaign 29% 67.7% Optimized nurturing campaign 49% 77.6% Relative difference 69% 15% ! What you need to understand: Optimizing the lead generation effort  What you need to understand: Optimizing the lead‐generation effort with a three‐part nurturing funnel successfully converted web‐form  registrations into inbound calls. 24#b2blead
  • 25. Marketers must use funnel optimization strategies to Marketers must use funnel optimi ation strategies to ensure optimal qualified lead generation.
  • 26. What is funnel optimization?  Sales and marketing functions and processes that encourage a lead’s progression  through the sales and marketing funnel. Processes include lead qualification, scoring,  nurturing, management and optimization nurturing, management and optimization Leads generated  Lead qualification  & scoring Sales qualified?  Y/N Qualified leads go  Continual  Lead nurturing &  to Sales – others  management optimization get nurtured Lead  conversion New customer nurturing New customer nurturing 26#b2blead
  • 27. Funnel optimization – benefits  Funnel optimization will enable you to: • Generate a greater volume of qualified, sales‐ready leads g q , y • Dramatically reduce any frustrations that exist among Sales • Improve sales and marketing alignment • Increase sales effectiveness Increase sales effectiveness • Accelerate sales pipeline performance • Ultimately increase overall revenues 27#b2blead
  • 28. Key finding: Lead generation is top priority,  conversion is greatest challenge • Interdependence of lead  Interdependence of lead Lead generation L d i 60% 48% generation and  Converting qualified  conversion leads into paying  57% customers 52% Branding, reputation  45% • Marketers now prioritize  and awareness 38% lead conversion over  44% Priority branding, reputation and  branding, reputation and Lead nurturing 40% Challenge awareness 36% Lead qualification and  scoring 37% Lead hand‐off and  18% management 22% Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey  Methodology: Fielded June 2011, N=1,745 28#b2blead
  • 29. Key finding: Funnel optimization presents great  opportunity 13% • Marketers beginning to  g g Lead generation Lead generation 46% embrace sales conversion  37% as a sales and marketing  Lead qualification 23% 41% priority, however… 31% 41% Lead scoring 29% 19% • Marketers are struggling  30% No process or guidelines  to gain maturity in funnel  Lead nurturing 41% y currently 22% optimization tactics Informal process, few  25% guidelines, sporadic  Lead hand‐off /  37% performance management 29% Formal process, thorough  guidelines, routine  38% performance Funnel  34% optimization 16% Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey  Methodology: Fielded June 2011, N=1,745 29#b2blead
  • 30. How can we gain maturity in funnel How can we gain maturity in funnel optimization?
  • 31. Optimize your Sales and Marketing Funnel Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 31#b2blead
  • 32. Optimize your Sales and Marketing Funnel Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 32#b2blead
  • 33. Step 1: Identify your sales and marketing funnel • The funnel does not begin once a lead is handed off to Sales, it begins  once a lead has responded to a marketing campaign. • Three guiding principles in developing your funnel: • It should be measurable It should be measurable • It should encourage accountability Measurability • It should be simple Accountability Simplicity 33#b2blead
  • 34. Step 1: Identify your sales and marketing funnel Demand Generation Content Response Capture Lead Scoring Lead Nurturing Lead to Pipeline Sale  Conversion Rate Conversion Rate X% Sales Engagement g g 34#b2blead
  • 35. Optimize your Sales and Marketing Funnel Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 35#b2blead
  • 36. Step 2: Establish lead qualification and scoring • Determine your universal lead definition (ULD) • Outline specific criteria of a qualified lead • Develop automated scoring methodologies using demographics and  Develop automated scoring methodologies using demographics and behaviors 36#b2blead
  • 37. Step 2: Establish lead qualification and scoring Action Item: ULD Create your own version of the universal lead definition,  apply it to every lead, and leave room for iteration as  apply it to every lead and leave room for iteration as you close the loop with your sales team. 37#b2blead
  • 38. Step 2: Establish lead qualification and scoring Action Item: ULD checklist What makes a good sales lead? • How can we raise the bar and give your better more actionable leads? • What initiative or need makes this a good fit? • What info is necessary to determine if a lead is worth the follow‐up? What info is necessary to determine if a lead is worth the follow‐up? • What are the titles/job functions of economic buyers and influencers? • What does this company values? What’s its culture like? • What are the common business issues? 38#b2blead
  • 39. Step 2: Establish lead qualification and scoring Action Item: ULD checklist What information is required to qualify leads as being sales ready? • What are the characteristics of the ideal sales opportunity? • What are the questions sales want answered before getting a lead? • What info is must‐have vs. nice‐to‐have? What info is must‐have vs nice‐to‐have? • Which questions tend to gather the most‐needed information? • What should we start doing to make leads more actionable? • What things should we stop doing with leads that don’t value? 39#b2blead
  • 40. Step 2: Establish lead qualification and scoring Action Item: ULD checklist Use the ULD to delineate “sales ready” vs. “nurture” lead statuses • Will there be a time frame to evaluate and implement a solution? • Will there be a formal or informal budget in place? • Are there specific behaviors or traits you are looking for? Are there specific behaviors or traits you are looking for? 40#b2blead
  • 41. Step 2: Establish lead qualification and scoring Action Item: ULD next steps Identify key info a sales rep would value in speaking with a prospect • What fuels interest and how must we focus on it with the solution? • Where is the best entry point? • Who is involved in the buying process as it evolves?  • Should anyone else be contacted? • Where’s the funding coming from and who has authority over it? Then, only send as many sales ready leads that the sales person can effectively handle 41#b2blead
  • 42. Optimize your Sales and Marketing Funnel Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 42#b2blead
  • 43. Step 3: Nurture non‐qualified leads until they  are ready to engage Nurturing – the process of relevant, ongoing communications to increase the process of relevant, ongoing communications to increase  interest and engagement • Ongoing nurturing O go g u u g • Outreach nurturing • Engagement nurturing 43#b2blead
  • 44. Step 3: Nurture non‐qualified leads Action Item: Set up basic lead nurturing 1. Set up your nurturing database • Include all of the people you could potentially sell to: people  c ude a o e peop e you cou d po e a y se o peop e you’ve met at trade shows, who have spoken with your sales team,  who have responded to your website, etc. 2. Review your database • What do you know about the people in it?  • What industry are they in? What industry are they in?  • What are their titles?  44#b2blead
  • 45. Step 3: Nurture non‐qualified leads Action Item: Set up basic lead nurturing 3. Decide what information would be most relevant to them • Ask your sales team, “What questions do your customers ask most  s you sa es ea , a ques o s do you cus o e s as os often? What do they care about? What issues are they facing?”  • Find content to address these issues.  • Pass this content by your sales team Ask them whether their Pass this content by your sales team. Ask them whether their  customers would value it. As much as you can, repurpose content. 4. 4 Email prospects this relevant content Email prospects this relevant content • Whatever you do, don’t pitch! 45#b2blead
  • 46. Step 3: Nurture non‐qualified leads Action Item: Set up basic lead nurturing 5. Follow up with a human touch • Make a personal connection and follow up emails with phone calls  a e a pe so a co ec o a d o o up e a s p o e ca s to directly gauge prospects’ interest. Never rely on email alone. 46#b2blead
  • 47. Optimize your Sales and Marketing Funnel Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 47#b2blead
  • 48. Step 4: Continue to nurture through the funnel • Conversion nurturing • New customer nurturing g Leads generated  Sales qualified?  Y/N Qualified leads go  Conversion  to Sales – others  materials get nurtured Customer  experience  i Lead  materials conversion New customer nurturing New customer nurturing 48#b2blead
  • 49. Step 4: Continue to nurture through the funnel Action Item: Ongoing lead nurturing 1. Establish a lead‐development process 2. Motivate sales people to have consistent contact with prospects who  may not yet be ready to buy 3. 3 Ensure that your Sales team hands back inactive leads for further  Ensure that your Sales team hands back inactive leads for further nurturing by marketing • Leverage a centralized data base • Ask sales can to make notes why a lead is sales ready Ask sales can to make notes why a lead is sales‐ready 49#b2blead
  • 50. Step 4: Continue to nurture through the funnel Action Item: Ongoing lead nurturing 4. Capture future opportunities that are being currently missed 5. Leverage content to position sales people as trusted advisors • A carefully crafted lead nurturing program anticipates the  p p prospect’s questions and responds with timely answers q p y • This builds value by providing useful information • Relevancy is the key 6. This process positions sales people as trusted advisors.  50#b2blead
  • 51. Optimize your Sales and Marketing Funnel Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 51#b2blead
  • 52. Step 5: Adapt and optimize • Evaluate lead generation performance • Evaluate funnel optimization performance p p • Lead qualification and scoring • Lead nurturing Lead gen • Lead management Lead management • Deliver marketing value to the C‐Suite Lead  Lead  management qualification Lead  Lead scoring nurturing 52#b2blead
  • 53. Step 5: Adapt and optimize Events, Events, Summits, Guides, Subscribers, Website,  Teleprospecting Inquiries (Level 1) Not a Fit Marketing  Nurturing (Level 2) Pipeline Level 3,4,5 Leads Sales  Pipeline Pi li 53#b2blead
  • 54. Step 5: Adapt and optimize Events, Events, Summits, Guides, Subscribers, Website,  Teleprospecting Inquiries (Level 1) Not a Fit Marketing  Nurturing (Level 2) Pipeline Level 3,4,5 Leads HANDOFF Sales  l Sales Ready  Generated  Leads Leads Sales  Existing  Clients Pipeline Pi li Customers 54#b2blead
  • 55. Step 5: Adapt and optimize Events, Events, Summits, Guides, Subscribers, Website,  Teleprospecting Inquiries (Level 1) Not a Fit Marketing  Nurturing (Level 2) Pipeline Level 3,4,5 Leads Returned  Returned Prospects HANDOFF Sales  l Sales Ready  Generated  Leads Leads Sales  Existing  Clients Pipeline Pi li Customers 55#b2blead
  • 56. Step 5: Adapt and optimize Events, Events, Summits, Guides, Subscribers, Website,  Teleprospecting Inquiries (Level 1) Not a Fit Marketing  Nurturing (Level 2) Pipeline Level 3,4,5 Leads Returned  Returned Prospects CRM Closed Loop Feedback HANDOFF Sales  l Sales Ready  Generated  Leads Leads Sales  Existing  Clients Pipeline Pi li Measure ROI Customers 56#b2blead
  • 57. Funnel optimization framework review In an increasingly challenging environment, funnel optimization presents a  great opportunity to marketers Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 57#b2blead
  • 58. Today’s key takeaways 2012 B2B Marketing Benchmark Report • Key findings of 1,745 B2B organizations  y g , g • Struggle to generate both high quality/quantity of leads • Declining effectiveness of tactics  The Opportunity: To optimize the sales and marketing funnel 58#b2blead
  • 59. Today’s key takeaways 2012 B2B Marketing Benchmark Report • Key findings of 1,745 B2B organizations  y g , g • Struggle to generate both high quality/quantity of leads • Declining effectiveness of tactics  The Opportunity: To optimize the sales and marketing funnel Case Study • Tactical steps to increase inbound calls 69% • Multichannel lead generation g • Staggered multichannel nurturing campaign 59#b2blead
  • 60. Today’s key takeaways The funnel optimization framework 1. Identify your sales and marketing funnel yy g 2. Establish lead qualification and scoring 3. Nurture non‐qualified leads ready to engage 4. Continue to nurture through the funnel 4 Continue to nurture through the funnel 5. Adapt & optimize 60#b2blead
  • 61. Today’s key takeaways The funnel optimization framework 1. Identify your sales and marketing funnel yy g 2. Establish lead qualification and scoring 3. Nurture non‐qualified leads ready to engage 4. Continue to nurture through the funnel 4 Continue to nurture through the funnel 5. Adapt & optimize Your tactical action items • Define your Universal Lead Definition • Implement near and long‐term nurturing p g g • Refine your lead management model 61#b2blead
  • 62. 62#b2blead
  • 63. MECLABS Research Partnership Opportunities MECLABS conducts rigorous experiments in the new science of optimization.  We apply our discoveries to help leaders optimize the financial performance  of their sales and marketing programs. of their sales and marketing programs Learn more about how you may  be a fit for a MECLABS research  be a fit for a MECLABS research partnership:  • Select your Research  Partnership interest type on  the post‐webinar survey ✗ • Contact us directly di l info@MECLABS.com 1‐877‐635‐0565 63#b2blead
  • 64. B2B Lead Roundtable 1. You will receive a link to the webinar recording  2. 2 Please fill out the post‐webinar survey Pl fill t th t bi 3. View past and sign up for future webinars • B2BLeadBlog com/webinars B2BLeadBlog.com/webinars 4. Join the B2B Lead Roundtable LinkedIn group • B2BLeadBlog.com/Linkedin 5. Connect and share • B2BLeadBlog.com • Twitter @B2BLeadBlog 64#b2blead