The traditional Seven Ps of Marketing

In addition to the traditional four Ps of marketing (Product, Pricing, Promotion and Placement), customer services marketing brings in an extra three, making seven in total. They are collectively known as the extended marketing mix. The extra three Ps are:

People: Anyone coming into contact with customers will have a definite impact on overall customer satisfaction. They may be part of a supporting service or directly involved in a total service. People are always very important because in the eyes of the customer, they are inseparable from the overall customer service . Because of this, they must be well trained, well motivated and be the right type of person for the job. Customers are also referred to under 'people', as they can have an effect on the customer's service experience, (eg at a sponsored event).

Process: This is the entire process in providing a service and the specific behaviour of the people involved, all of which can be crucial to the customer's satisfaction.

Physical evidence: Unlike product evidence, a service cannot be actually experienced before it is supplied, which makes it a very intangible item. This means that prospects could think that there is a greater risk in deciding whether to use a particular service. To reduce this perception of risk, and also to improve the opportunity for success, it is vital to provide potential cnew ustomers with the opportunity to see what the potential service would be like. This is normally done by providing physical evidence like as case studies or magazine articles.

What is a "qualified sales lead"?

A qualified prospect is a sales lead and has three attributes:

1) A need - a highly-qualified prospect needs your product or service now or relatively soon. For example, if you sell widgets with an average lifespan of three years, a good prospect is one who owns a two-year-old widget, not a contact who bought a new one last year.

2) A sufficient budget - a qualified prospect has the budget to buy your product or service. Don't waste your time pursuing a contact who truly can't afford to buy what you're selling or a company that has used up its yearly budget.

3) The authority to buy - a good prospect has the authority and is prepared to take action. The simpler and more efficient their decision-making process is, the better your opportunity of closing the sale.

Prospecting is the first step in the complex selling process. A prospect is a qualified person or business contact that has the potential to buy your product or service. A prospect should not be confused with a "sales lead."

The name of a contact or business who might be a prospect is referred to as a potential sales lead. A sales lead can also be referred to as a "suspect," indicating the contact or business is suspected of being a prospect.

Once the lead has been "qualified," it becomes a prospect. In other words, a "sales lead" is a suspect, whereas a "qualified sales lead" is a prospect -- and there's a BIG difference between the two.