(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!”
(1). A client account you’re thinking of going after that’s been with one bank for years and years. And why shouldn’t you give it try?! I mean, who’s better than you, right?! Their current guy probably doesn’t even call them once a quarter to tell them what’s going on with Russian commodity prices! And how about that new exchange fund you’re offering? Wouldn’t they want to know about that?! Of course they would!! Now, get over to that phone and get that old coot on the line! You are a bright, shining star!
“So, given our lackluster numbers so far this year, I’ve been thinking that a new strategy is called for. Instead of young, up-and-coming entrepreneurs, we’re going to hunt for some old and cold money! Now, I want everyone to hit the nursing homes and university clubs and bring in those Vanderbilts!”