Definition of a prospect
A prospect is a person or company who may become a customer in the future, but has not yet made a purchase. For this reason, a company’s prospect can also be calleda “potential customer“.
He has shown signs of interest, or fits the profile of the ideal buyer, but has not yet acted on it. He or she is well identified, and the company often knows information about this individual.
In other words, a prospect isn’t yet a customer, but he’s already more qualified than a lead or suspect, because there’s clear information about him (contact details, potential needs, sector of activity, etc.).
As soon as a prospect makes his first purchase, he becomes a customer.
There are 2 main types of prospect. The warm prospect has expressed an interest in the company, while the cold prospect has not yet done so.
The different types of prospects
There are two main types of prospects:
- The cold prospect: has not yet expressed any particular interest in your products or services. It’s up to you to approach them and get their attention. Example: a company that you identify as corresponding to your target, but which doesn’t yet know you.
- Warm prospects: have already shown a concrete interest in your offer (request for information, download of a brochure, making contact, recurring visit to your website, etc.). This type of prospect is often closer to becoming a customer.
Who are your prospects?
Not everyone can be considered a prospect for your company. A prospect is a person or organization that :
- has an actual or potential need that you can meet,
- has the budget to invest in your service/product,
- is located in the geographical area you cover,
- and is at the right moment to consider a purchase.
Concrete examples:
- For an itinerant wine and spirits salesperson, prospects include wine merchants, restaurateurs and hotels who regularly renew their menus.
- For a salesperson selling medical equipment, the prospects will be the medical practices, pharmacies or clinics to be equipped.
- For an office supplies sales representative, prospects are all local SMEs that regularly consume paper, ink cartridges or furniture.
Why identify your prospects?
Identifying prospects is a key step in the sales process.
It allows you to :
target your prospecting actions on the people most likely to become customers,
tailor your messages to their needs and issues,
save time and improve your prospecting efficiency,
increase your chances of conversion.
💡 A simple method is to analyze your current customers: why did they choose you? What problems have you solved for them? This information will enable you to define a typical profile and more easily identify your next prospects.
Search for prospects on the map, directly in Moovago
Moovago integrates a unique feature: Google search directly on your business card! Enter an activity, a profession, a company name or a brand name, and instantly visualize these potential contacts. Access their contact details, approach them, then save them in your portfolio with a single click. From prospecting to integration, everything’s done from the same interface!
A prospect is not yet a customer, but it’s a serious candidate to become one.
The key is to know how to recognize a cold or warm prospect, and then adapt your sales pitch. The better identified and qualified your prospects are, the greater your chances of turning them into customers.