In the simplest way possible, the prospect is a potential customer. In general, the latter meets a number of criteria. In addition to being in your target market, they must have the money to buy your product; and even being able to make purchasing decisions. Any individual who can become a consumer is considered a prospect. In this context, this means that the latter can potentially become a new customer.
Every entrepreneur should therefore set the goal of converting prospects into customers in order to generate more sales and increase their market share.
Take for example the case of a company offering virtual assistance services to SMEs. Here, the prospect or target market can be viewed as a small or medium-sized business owner who has the means to pay for your services and may decide to hire you. You will understand, in case your contact is not authorized to make purchasing decisions, he is not considered as a prospect but as an intermediary.
Prospect vs Lead: What’s the Difference?
A lot of people tend to confuse the prospect with the lead.
However, the gap between these two concepts is relatively large. A lead is an unqualified contact. The first step in a sales process is to find and collect leads before qualifying them as potential customers. They then often went down the funnel to convert into customers. So any individual you meet who hasn’t been qualified as a lead is a lead. He has the possibility of becoming a potential Venezuela Email List customer by qualifying work. The difference between the two is therefore subtle and there are often no potential customers without a lead. Yet another reason to be interested in both.
The different types of prospects
Prospects fall into 3 main categories: cold prospect, lukewarm prospect and hot prospect.
The cold prospect: this is a potential customer very often encountered in a prospecting campaign set up by a company. If this type of prospect has shown no interest in the product before prospecting, he takes note of it at the end of it. The latter could contact you at any time to purchase one of your services. For the moment, he is only interested in your products and is in a phase of attention.
The lukewarm prospect: this is a potential customer who is in need of buying a product. Unlike the cold prospect, there is a real need to buy some. He is therefore a person who will have to be revived as a priority compared to his predecessor, since he will be able to turn to the competition if you do not know how to go about it.
Why Is Finding Leads Important to Your Business?
Whatever field you find yourself in now, you will agree that the competition is very tough. This is why you should always develop innovative solutions to present to your potential client during prospecting. To attract new customers, several techniques can be used: cold calls, references, directories, trade shows … If looking for prospects is to your advantage, it is however necessary for each company to retain its customers in order to increase its turnover. business.
With a good strategy, you will be able to attract more potential customers that you will convert into buyers. It is important to keep this in mind that due to growing attrition, a salesperson cedes between 15 and 20% of his clientele each year, his client portfolio would end up eroding if he were not to put in place a good prospecting. Telling yourself that your customers will never leave you is a mistake you shouldn’t make. To maintain your income, and even increase it, the ideal is to find other customers while retaining old ones.
Increase in turnover
Who says more customers, says increasing income. Each prospect converted into a customer will systematically increase your sales and therefore your turnover. To get there, you have to go through good commercial prospecting. It goes without saying, this strategy is more expensive than a loyalty process. But finding customers who can make immediate buying decisions gives you a better return on your investment. Growing your business will certainly help you offset the risks associated with increased operations and costs of goods due to inflation.
Qualification or Qualified Appointments
A good prospecting helps to find a prospect or a potential customer ready to buy. By discovering the need, motivation to buy and financial capacity of your prospects, your salespeople can increase their sales effectiveness and pursue prospects with high buying potential. Shortening the sales cycle by reaching out to the most potential customers also allows your sales reps to make more contacts over a period of time and make qualified appointments more easily. Through commercial prospecting, it is possible to obtain qualified appointments.
It is not always because you want to optimize your sales that you have to find prospects. Contact with prospects can be used to collect data and conduct market research. Whether through direct mail or internet surveys, you can find out why a particular customer is interested in a brand or a product. Responses from such a survey can be beneficial in that your salespeople can find and contact specific prospects. It will also help them develop sales strategies and tactics that can be applied over a long term horizon. As you will have understood, commercial prospecting is an effective means by which you can obtain competitive information.
How to Find Prospects?
Creating content that appeals to readers is a great way to find prospects. Indeed, it is a question of proposing contents and articles which answer the problems of your consumers. To achieve this, you can for example set up a blog or a advice site. In this blog, avoid promoting your products, for example give advice to your prospects, which will aim to help them with their problems and which will increase trust with your business. Trust is a key element in a potential customer’s purchasing decision. When you create a site to present your activities, take care of the content, the titles, the meta-description, all without forgetting to put a point of honor on SEO. (see our article on inbound marketing)