Marketing trends trouble? Understanding the latest marketing terms sets you on the right path. And SocialBee is all about that.
Keep up with the latest social media terms, concepts and trends thanks to our comprehensive glossary.
What is a prospect? How can I improve my prospects? What is a qualified prospect?
The most widespread definition of a prospect is that it is a potential customer that fits three main criteria:
Thus, prospects don’t need to show a high level of buying interest but to fit the mentioned criteria. For example, if you are in the service of cybersecurity services, a CIO (Chief Information Officer) would be a viable prospect for your business as the CIO is the one directly interested in what you offer (target market), has the means to buy it (the budget for your services is in its hands) and has the authority to make buying decisions.
Prospects’ follow-up is usually on an individual or small group basis and the communicated messages are highly personalized to the recipient. Calls to action for prospects usually keep a focus on future follow-up and try to form an initial state of brand loyalty.
Prospects form when you qualify the lead. Therefore, a prospect is, in fact, a lead that has proven to be a fit for your products/services and is progressing toward a decision by positively responding to your follow-ups. Note that the concept of prospect should not be confused with prospecting that is the act of looking for leads.
how to prospect for sales
how to prospect on linkedin
what prospect means
what prospects do
what’s prospect definition
prospects are good
why is prospect research important
which prospect will you pick
prospect versus lead
prospect vs customer
If a prospect is not willing to cooperate by either changing their current solution or just using your products/services for the first time, it is not qualified.
In most cases, the typical journey an individual goes on to transition from being a lead to a prospect is that the lead is nurtured down the sales funnel through communication back from the business to encourage them to interact and respond further.
Should the lead choose to respond to this follow-up contact, then the lead becomes a prospect as they have initiated two-way communication.
Usually, when dealing with a prospect, an essential way of determining the level of interest in purchasing your products/services is making sure you have an answer to these questions:
Prospects can be seen as a future revenue stream and the best way to track your prospects is with a Customer Relationship Management (CRM) database.
That being said, determining who is your prospect is the first step in the selling process. Once you’ve determined that, you can continue with the next step of the selling process.
More Leads, Less Effort.
14-day free trial, no credit card required.
Download all 3 guides with one click for free!
Learn how to position your brand and how to write catchy copy for different content types to reach more prospects and generate qualified leads.