a prospect is a potential client. someone who could use what you are selling.
lead is someone shows interest, it can depend on your service or product, the problem you are trying to solve etc
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Understanding Prospects:
A prospect is a potential client who could benefit from what you sell.
Example:
If you sell shoes, a prospect is someone with feet.
The clearer your target audience, the better your results.
Targeting Niches:
It’s beneficial to focus on specific niches rather than a broad audience.
Examples:
Video editing for local businesses, restaurants, chiropractors, lawyers, architects, etc.
Turning Prospects into Leads:
The goal is to convert prospects into leads, who are potential clients showing interest.
Lead Definition:
A lead is a good fit and receptive to what you're selling.
Example:
If someone expresses interest in getting more clients through video marketing, they are a lead.
Lead Temperatures:
Hot Lead:
Ready to buy immediately.
Lukewarm/Cold Lead:
Interested but not ready to buy right away.
Leads may require nurturing over time before they are ready to buy.
Sales Cycle Variability:
The time frame for converting leads to clients can vary.
Some decisions may take months depending on the service and the client's needs.
Prospecting Steps:
Identify a target audience.
Approach potential prospects.
Convert prospects into leads by gauging their interest and fit.
Nurture leads if necessary to turn them into clients.
Value of Calls: Every call you make contributes to your success.
Example:
If it takes 100 calls to make a sale worth $1000, each call is worth $10.
This lesson emphasizes the importance of clear targeting, understanding the prospecting process, and the consistent effort required to convert prospects into paying clients.
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