Updated: Aug 17
The differentiation that every salesperson ought to know to ensure their pipeline is of high quality.
Salespersons must know that before they pick up and start selling, products and services have pre-defined target market segments. Product Managers (and Product Marketing Managers) are responsible for imparting this knowledge to sales teams.
The STP Process
“Suspects may or may not be interested in buying a product or service.”
Marketers use a process called #segmentation, #targeting, and #positioning (#STP) to pinpoint the target market segments (#marketsegments) with unmet needs that a brand should address and serve. Following the STP process, products and services are defined and developed as a part of the #marketing mix.
Who are Suspects?
#Suspects in the context of sales are all the businesses or consumers who fall into the target market segment(s) of a product or service. They are called so because they may not be interested in buying the offering to begin with.
Who are Prospects?
“Products and services have pre-defined target segments.”
Suspects become #prospects when they signal their buying interest and it is evident to salespersons.
Whereas a suspect's interest level is unclear, a prospect's interest is clear to the salesperson.