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(1). An forced acknowledgement by one of your vendors that they’ve been gouging you for years. They’ll give you a little discount to promote the strong inertia pulling you to stay with them for at least one more year of excellent service!
“Sure, Rita … we’ll take a look at our engagement to see if we can find you a little fee relief. I have to say, though, we’re operating at breakeven as it is, so ….”
(1). n. A potential client which is currently being courted by a salesperson. Prospects are generally treated as the most important person in the world during the marketing phase of the relationship. However, once the prospect becomes an actual client, they will receive the same half-interested, annual-meetings-level of service as any of the salesperson’s other clients.
“I’ve got this huge prospect I’m working on right now, Jeff. I don’t want to count chickens, but I’m feeling Bentley right now!”
(2). v. A gold-mining inspired term meaning to seek out new clients, either through direct marketing (i.e. cold calling) or networking (i.e. volunteering for a charity in hopes of meeting new clients). As with gold mining, prospecting often leads to several dead ends, fool’s gold deposits (i.e. clients who lie about their net worth) and occasionally, a gem.
“Sup, Lo-Dawg. I’m gonna need a couple hits for tonight. Going out prospecting at the clubs, yo!”
