Marketers often use prospects and leads interchangeably, but they aren’t synonyms. Prospect vs. Lead isn’t a debate. Both are important, as well as understanding the nuances.
In this article, we’ll share the differences and similarities between the two. Then, we’ll show you the steps in transforming leads into prospects and how both fit into the sales process.
Defining Prospects Vs. Leads
Let’s set a scene. You have a shoe store. On any given day, you have people walk inside and look around. Some want to see what’s in stock; others actively seek a salesperson’s help.
Everybody who walks inside your store is a lead. They show interest, but not enough to push them toward buying. Those who are actively engaging with you are prospects.
Prospects ask questions, seek help, and show clear buying intent. Wallets at the ready. These people just need a little push.
In short, leads show interest. Prospects show intent.
Where Do Leads Come From?
Leads don’t just appear out of thin air (though wouldn’t that be nice?). They come from a mix of channels, platforms, and strategies designed to grab attention.
Whether through social media, email campaigns, or good old-fashioned word of mouth, every lead starts with someone noticing what you’re offering and wanting to learn more.
Here are some common ways to generate leads and keep your pipeline flowing.
Manual Research
Sometimes, a bit of elbow grease goes a long way. Although you can’t realistically do manual research for every lead, you definitely can do manual research for high-value ones.
The best place to do manual research for lead generation is LinkedIn. You can use advanced search filters to find leads who match your ideal customer profile (ICP).
If you have LinkedIn Premium or Sales Navigator, you can send messages directly to leads via InMail. However, you can only send a limited number. If you want volume, use lead finder tools.
Lead Finder Tools
Leads might not appear out of thin air, but they can appear after a few clicks with the right lead finder tools. The only issue with most lead finder tools is lead quality.
Ensure that the leads in the database are updated and verified. Using unverified lead lists in outreach campaigns will harm your sending reputation.
If you want pre-verified leads, try Instantly B2B Lead Finder. You can find leads who match your exact ICP, are similar to existing clients, or use advanced search filters.
Referrals
People trust their peers. That means leads who came through referral channels are more likely to convert. The referrer already did the nurturing for you.
If you want more referral leads, incentivize existing customers or clients. Create referral programs and give discounts or exclusive deals.
Inbound Lead Generation
Instead of chasing leads down, you create valuable content that attracts them. That’s the gist of inbound lead generation: provide something useful, and people will come.
Here are some great examples of inbound lead-generation strategies:
- Content Marketing: Blogs, videos, guides, or podcasts that answer questions, solve problems, or entertain.
- SEO (Search Engine Optimization): By optimizing your website and content for search engines, you’re making it easier for people to discover you in their research phase.
- Social Media Engagement: Sharing engaging posts, stories, or memes that connect with your audience can bring them to your profile or website.
- Email Newsletters: Providing valuable updates, tips, or exclusive offers can keep people informed and interested in your offerings.
- Free Resources: EBooks, templates, or webinars are great for inbound. People get something helpful, and they’re happy to share their contact info in exchange.
Website Visitor Identification Tools
People who enter your website already show interest. Unfortunately, window shoppers won’t generate revenue. But what if you can reach out to them and give them exactly what they need?
That’s what website visitor identification tools do. These tools don’t just track traffic—they give you insights into who’s visiting, what they’re looking at, and even how to contact them.
If you want to try this out, Instantly Website Visitor Identification offers 250 free credits monthly.
How To Turn Leads Into Prospects?
Turning a lead into a prospect is about moving them from "just looking" to "seriously interested." Think of it like dating—you’re not proposing on the first coffee date, but you’re trying to show you’re worth their time.
Here’s how to make that transition happen:
Qualify Their Interest
Not all leads are created equal. Some are just browsing; others are genuinely considering solutions. To figure out where they stand, ask yourself:
- Are they engaging with your content (downloading, clicking, etc.)?
- Have they shared any info, like filling out a form or asking questions?
- Are they showing signs of a problem you can solve?
- Did they reply to the cold email you sent?
Engage With Them Directly
Don’t just let leads sit in your CRM—reach out! A friendly email, a quick follow-up call, or even a chatbot conversation can go a long way. The goal is to spark a two-way conversation and learn more about what they need, not selling.
Provide Value Early On
Give them a reason to stick around. Share resources like helpful blog posts, case studies, or free tools that solve small but relevant pain points. When leads feel you understand their needs, they’re more likely to take the next step.
Personalize the Experience
Use what you know about the lead to tailor your approach. For example:
- Did they download a specific guide? Follow up with related resources.
- Did they check out the pricing? Offer a quick consultation.
- Are they from a specific industry? Show them how you’ve helped similar businesses.
With Instantly B2B Lead Finder or Website Visitor Identification, you can create enriched lead lists, complete with all the data needed to hyper-personalize outreach.
Remember, with the right data, you can ask the right questions.
Ask the Right Questions
Start uncovering their goals, challenges, and timelines. This helps gauge their seriousness and lets you know whether they’re ready to buy. Great questions include:
- “What’s the biggest challenge you’re trying to solve now?”
- “What are you looking for in a solution?”
- “How soon are you hoping to get started?”
Key Takeaways
So, there isn’t a debate at all. Leads and prospects aren’t jostling for the same position. One evolves into the other. Leads come first. Then, upon qualification and comparison to buyer personas, they become prospects.
- Leads tend to be at the top of the funnel, but a prospect could fit anywhere into the AIDA framework.
- Careful nurturing throughout the sales funnel is required to create conversion opportunities.
- Leads come from several different potential channels.
One of the best forms of lead generation is cold email marketing. To do that at scale, you need an email marketing tool you can rely on. That’s what Instantly offers. Get started for free today!
