Marketing Tip #9 | Are You Wasting Time on Prospects?

Are you wasting your time on prospects?

There is a fine line between wasting time with a prospect and spending quality time pursuing a lead. Understanding the difference will save you time and money.

Think back to math class where you learned that all squares are rectangles, but not all rectangles are squares.  In much the same way, all leads are prospects, but not all prospects are leads.

A lead is only a lead if it is qualified. To be qualified, a lead must be the right kind of client or customer for your business. In addition to having a need for your product or service, a qualified lead fits your business model and is able — from both an authority and budget perspective — to purchase your offering.

How many coffee meetings or phone conversations have you accepted hoping they would turn into business when, instead, they turned out to be a waste of your time?

This is the first in a series on prospects vs. leads. Learn how to identify qualified leads in Marketing Tip #10 in early March. Additional free Marketing Tips are available by clicking here.

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