CRM glossary

What is a Prospect?

A potential customer who has been identified as a fit and is being actively pursued.

Updated October 2026·2 min read·By the MagicWand team
Definition

Prospect: A potential customer who has been identified as a fit and is being actively pursued.

Example

After a discovery call confirms budget and need, the lead becomes a prospect.

Why it matters

Separating prospects from raw leads focuses effort.

Prospect in MagicWand

MagicWand classifies contacts as suspects, prospects or customers.