Understanding Leads, Prospects and Opportunities in Agency New Business Development
In agency business development for creative, PR, digital, experiential and other marketing communications agencies, the terms lead, prospect and sales opportunity are often used interchangeably. However, each plays a distinct role in winning new clients and building your agency’s pipeline.
What is a Lead in the Agency Context
A lead is the first contact at the very top of your agency new business funnel. They may have been sourced through outbound outreach, inbound enquiries, event networking or recommendations. At this point, you have limited information about their level of interest or suitability for your agency’s services. Your aim is to qualify them enough to see if they can progress to the next stage as a prospect.
Moving from Lead to Prospect
A prospect is a lead who has engaged further with your agency and shown an interest in what you offer – whether that’s PR, creative campaigns, digital strategy, shopper marketing, or other marketing communications services. They are responding to nurturing efforts, but you may not yet know if they fully fit your target client profile or budget parameters.
Turning a Prospect into a Sales Opportunity
A sales opportunity is a prospect with a high likelihood of becoming a paying client. They have demonstrated a defined need – often a specific business challenge or gap in capability – that your agency can address. At this stage, your focus is on shaping a tailored proposal to win the work.
Key Differences in the Agency Sales Pipeline
Lead vs Prospect
- Lead – Initial contact at the start of your new business funnel. Aware of your agency but not yet qualified.
- Prospect – A lead showing engagement and potential, moving towards becoming a viable client.
Prospect vs Sales Opportunity
- Prospect – Shows promise but still being assessed for fit.
- Sales Opportunity – A qualified prospect with a clear need and strong chance of conversion.
Why This Matters for Creative and PR Agency Growth
For over 15 years, Manifest has specialised in creative agency business development and PR new business development. We help agencies across creative, digital, experiential, shopper and all marketing communications disciplines move contacts through the funnel efficiently – from lead generation to winning valuable opportunities.
By understanding and applying these distinctions, agencies can prioritise their outreach, nurture the right relationships and close more of the business that truly fits.
