Prospect

There are several definitions out there for the term Prospect as it relates to sales and marketing. Some define it as a lead that has shown interest in a company’s product. Some define it as a person further down the sales cycle who is likely to buy a company’s product. While others consider it to be someone who is at any point of the buying cycle, whether it be the sales or the marketing side. It is important not to confuse prospects with leads, because leads are people for which only raw information exists. Regular leads have not been qualified by anyone. Prospects differ in that companies have gathered more information on them and they have met certain qualifying criteria that make them more worthy of pursuing.

Why does TrackMaven think that Prospect is important?

Overall, a prospect is someone who can be considered a potential customer. Before a sale can be made to anyone, a business needs to identify the potential customers its product. Once these possible buyers are located, they are one step closer to becoming prospects. After identifying, a company can move onto activities such as targeting the prospect’s preferred media channels with advertisements or creating a personalized marketing message for the prospect.