Have you heard the terms “lead” and “prospect”? Of course, you’ve heard these terms regularly used by sales personnel. The definitions for “lead” and “prospect” actually differ among various marketing automation and CRM systems. Continuing to use these terms without some shared understanding is detrimental to all parties involved. Therefore, we want to pose a question, “Exactly what is the difference between Lead Scoring and Prospect Scoring?”
In our view, a “lead” is an individual who has visited the company website and provided contact information. This potential lead may provide his contact information by subscribing to a blog, signing up for a webinar, or indicating via email or online form his willingness to obtain information in various file formats.
Lead Scoring allows you as a sales person to:
Marketers convert an active lead into a prospect by using relevant advertising banners, push notifications, or messages from chatbots.
A “prospect” is a qualified and interested individual who has demonstrated preparedness to make a purchase decision. A prospect often contacts sales reps by phone or email or makes a request for proposal.
Prospect Scoring allows you as a sales person to:
In conclusion, let’s summarize the main difference between Lead Scoring and Prospect Scoring. Lead Scoring aims to complete the task of elevating a lead to prospect status. Prospect Scoring aims to complete the task of bringing two-way interaction to a sales deal.
Leads and prospects occur in a sales funnel. The infographic below illustrates key differences between the two terms “lead” and “prospect”.