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Prospect

What is a prospect?<br>

A prospect is a person or entity that has shown interest in the products or services offered by a company, but has not yet made a purchase.

It represents a potential sales opportunity and is often in the early stages of the sales process.

Origin of the term

The word “prospect” comes from the Latin prospectus“, which means “view“.

In the context of marketing, it refers to a view or perception of a prospective customer.

Importance in Marketing

Identifying and managing prospects is crucial in the world of marketing and sales.

Through various strategies and tools, such as digital marketing, email marketing and CRM (Customer Relationship Management), companies can nurture and convert those prospects into actual customers.

In this way, companies maximize their revenue opportunities.

The difference between a prospect and a customer

Although sometimes used interchangeably, there is a key difference between a prospect and a customer:

  • Prospect: has shown interest in what a company offers but has not yet made a decision to buy.
    They are in the early stages of the sales funnel, which means they still need to be convinced and guided toward conversion.
  • Customer: This is someone who has already made the decision to buy a product or service from the company and has completed a transaction.

How to convert a prospect into a customer

Turning a prospect into a customer involves a combination of strategies and tactics, which may include:

  • Information: Providing the prospect with relevant and useful information about the product or service.
  • Follow-up: Keeping in regular contact to remind them of the value proposition.
  • Personalization: Adjusting the marketing approach according to the prospect’s needs and preferences.
  • Offers and promotions: Introduce incentives to encourage purchase.
  • Trust building: Demonstrate authenticity and establish a relationship based on trust.

A prospect is a cornerstone in the world of marketing and sales.

Converting it into a customer requires effort, strategy and a focus on the individual’s needs and wants.

As marketing techniques and tools evolve, the way companies interact and engage with their prospects also changes, but the main goal remains the same: to convert interest into action.