A LEAD is someone who has shown interest in your business by filling out a form, subscribing to your newsletter, or engaging with your social content. A lead is the first step in the sales process.
A PROSPECT is a lead who has been QUALIFIED as fitting your target market and is likely to become a customer. They have been assessed for fit based on certain criteria such as need, budget, and timeline.
An analogy is an investigator trying to solve a case. A LEAD is someone who could potentially guide them closer to solving the case. A PROSPECT is like a suspect. The factors, behaviors, or circumstances determine if they are the right fit.
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