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Marketing vs. Prospecting: Which is Better for Your Business?

Marketing vs ProspectingEvery single day, people from all over the world discontinue their unfulfilling, hum drum jobs in order to pursue a new life as an internet marketer. Everyone has their own unique motivations behind this change; maybe they’re attracted to the idea of having full financial freedom. Perhaps they want to work whenever they want from wherever they want. Maybe they are interested in something more meaningful like the pride of owning a successful business.  

The motivation doesn’t matter as we’re all interested in reaching the same end result; bringing value to others and making sales. However, the majority of these new marketing converts will fail miserably. They don’t fail because they lack the ability to work hard or lack of motivation. They fail because they begin focusing on prospecting and not actually marketing. Let me explain…

Despite what many people may think, marketing and prospecting are two entirely different entities. The end goal may be the same (getting sales), but the way in which each arrives there is completely different. The goal of marketing is to ATTRACT targeted consumers that are interested in your product or service, while prospecting is meant to CHASE people that may or may not be interested in what you have to offer.  Let me explain further…

Do you remember the last time some sales person called your phone? Chances are, you immediately put up your invisible “force field” and told them that you weren’t interested without even hearing their full presentation. This is the initial knee-jerk reaction that most people have. Why? Because people HATE to be sold to. They approached you first in hopes to convince you that their service would be of value to you. That is prospecting. They were CHASING the sale. Chances are, you were not looking for whatever it is they were selling anyway. This can be effective in some cases, but let’s be honest; it’s A LOT of unnecessary work for little gain. 

Marketing, on the other hand, is the art of bringing the people to YOU that already have an interest in the product or service that you have. It takes far less effort to use targeted marketing to make a sale than to prospect, and it is far more profitable as well. Here’s an example of both of them in use…

Say a friend offered you two free tickets to the ballet. Unfortunately, you’re not such a fan of ballet so you decide to sell them instead. You COULD head to the most crowded place you can possibly think of, the mall, and begin prospecting by looking for someone that is interested in your tickets. OR you could post a banner on a popular news website. Both will ensure that a ton of people see what you’re selling, but both methods have you actively seeking (chasing) people that probably aren’t interested in purchasing your tickets, which is slightly intrusive and may or may not work. 

However, there is a much faster, more convenient way to sell these tickets through proper marketing. For instance, if you went to the ballet venue a bit early, started at the back of the line and announced that you have two tickets for sale, there is a very good chance that someone will approach you and offer to purchase the tickets relatively soon. The people in line are obviously there because they are LOOKING for tickets to the ballet. Plus, if they purchase them from you, they will not have to stand in line, which is an added bonus for them. This also may actually prompt them to pay more because they see the value in what you have!  You would have sold your tickets much faster, for possibly much more, without having to approach a single person. This istrue marketing. 

Most marketers fail to create a flourishing business because they CHASE sales instead of ATTRACTING sales. This is the biggest fundamental difference between the top internet marketers in the world and everyone else. Before you begin a campaign, take a deep, hard look at your strategy. Are you CHASING or are you ATTRACTING? You may have the best product or service EVER, but if you are taking a prospecting approach, instead of a marketing approach, then your business will be doomed to mediocrity.  

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About Sean Donahoe

Sean is one of the most recognized industry leaders in business and marketing. As a popular speaker, author, consultant he has helped over 50,000 students world wide find success in their businesses and has consulted with Fortune 500 companies and businesses of every size grow and thrive...

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