Sales Prospects versus Sales Leads

Do not mistake a lead with a prospect. One is a gold key to value selling success, the other is not.

Many value sales people confuse sales leads with sales prospects and treat the first with the same amount of time, attention and effort as the second. This approach is bound to disappoint as leads are vastly different from true prospects. Here’s how…

A sales lead is only basic contact information. There has been no homework done as to their real potential as a buyer. You don’t know if they have the interest in, need for, or the means to buy your product/service. Following up on an unqualified lead can be a total waste of value selling time.

A sales prospect, on the other hand, is a potential customer who has expressed some interest in your business solution and has the resources to buy it. A prospect has been qualified as a possible buyer, is most likely a referral from one of your satisfied customers, and should be contacted as soon as possible after you have learned as much as you can about their situation.