Who is a Prospect?
A prospect is an individual contact who is qualified on certain criteria outlined by the sales team based on the business offering. A prospect is contacted by the salesperson with the objective of further engagement and finally converting to a customer. Once you have the contact details and the person fits the profile of potential customers to approach sales, that contact becomes a prospect. In most cases, a prospect fits your target market, has the means to buy your products or services, and is authorized to make buying decisions.
For example, if you are selling a software solution for task management, your prospects would be all the small and big businesses that can use your product and can afford your services.
How prospecting works?
Prospecting is the act of engaging with all the prospects and figuring out how to process each prospect through your sales funnel. You determine this by constantly engaging with your prospects, digging inside news about your prospect’s business and figuring out their needs. You can buy or prepare a list of prospects based on demographics or interest but figuring out where the prospect and your product is the right match or not is the ultimate goal.