Prospects
Prospects are suspects who have contacted you by taking a call to action on your website, sending an email, calling you, or even visiting your office.
Once they’ve done that, it’s your job to understand whether they will make a good client and, if they do, convince them you’re the right adviser or planner for them.
Client
Strictly speaking, a client is someone who pays you a fee either on a transactional or ongoing basis.
Advocate
This is a client who says they’d be happy to recommend you to other people but haven’t done so yet.
Active advocate
This is someone who regularly recommends you to others, helping you grow your practice.
Your aim is to take as many suspects through to active advocacy as possible.
More jargon-busting next time
I hope this article has helped to make the marketing world more accessible to you.
In the second part of this mini-series, we’ll take a look marketing terms often used when describing or building your business presence online.
Phil Bray is founder and director of The Yardstick Agency
