BANT stands for budget, authority, need and timeline, and it’s a framework that can be used to determine how qualified a lead is to work with your company and determine which leads should be prioritized. “You use a tool like BANT to make sure that from a qualification standpoint a lead fits the mark before you continue conversations,” BANT is basically the fundamental checkboxes you need to confirm with a prospect at the start of the sales process to ensure a lead aligns with your company.
Developing the ability to qualify leads takes time, but there is a shortcut you can use right now, it is BANT sales methodology!”
If a prospect’s budget doesn’t align with your company, then it’s best for your reps to learn that before they’ve invested too much time in nurturing that prospect.
Timeline tells us in a sales process
What are the prospect’s expectations around pricing? What do they typically spend on this type of purchase? Where is their funding coming from? Is there any flexibility with their budget? Budget is an essential conversation to have with any prospect because if they can’t afford to work with your company, there’s no point moving forward with the sales process.“If you’re just on totally different polar ends of what is feasible with budgetary resources, then it’s not going to be a good fit,” Beth says. “The whole goal of something like BANT is qualification and understanding of alignment and urgency. Budget is a part of alignment for any company.”
Who’s making the final decision around
Authority allows us to understand the different buying roles within the prospect group we’re talking to,” Beth says. “It’s good to get a sense of who we’re going to have to sell into because you don’t want to overspend time on someone that isn’t going to have the authority to make something happen.”
Understanding authority will help sales reps know who needs to be involved in the buying process. Plus, if the lead they’re talking to doesn’t have any authority, that’s a sign that they can de-prioritize going after that sale until other contacts can be brought in.
How much is their challenge impacting their daily life? What are they hoping your company can do to help them?
Sales reps will need to determine if a prospect’s challenge is something they can actually solve and how pressing the need is. If your product or service won’t solve the problems a prospect is facing, then that’s a sign that they’re a poor fit. Additionally, if a prospect’s need is more of an inconvenience, then they might not be motivated to resolve it quickly, requiring more time and effort to move that sale forward.
What is the prospect’s timeline? Is their timeline realistic? “Timeline tells us in a sales process when they are ultimately trying to make a decision,” Reps can work backward from the end goal to determine when key steps need to happen in the sales process. Understanding how tight timelines are can help reps determine which leads to address first. If a prospect needs to make a purchase within three months, that sale should receive immediate focus. Meanwhile, if a prospect is considering options for a purchase they plan to make next year, it’s better to send them some helpful resources and then follow up closer to when they’ll actually be making a decision.
Going Beyond BANT
As far as qualifying frameworks go, BANT is pretty straightforward and asks salespeople to consider the following: Budget: Does the prospective client have the necessary budget to purchase your product?
Authority: Does the potential lead have the authority to make a purchase, or are there additional people you need to speak with? Needs: What business pain points does your service reduce? Timeline: When is the lead looking to make a purchase?
This lead qualification process saves sales teams time and energy by eliminating or passing over opportunities with no potential. Our Telemarketing specialties will ensure that you receive high quality BANT leads that are ready to make a move to ensure your Revenue reaches sky-high. Our Telemarketers ensure that all these pointers are covered while talking to the prospect as specified by your campaign metrics. The leads generated are highly conversational and organic as we ensure that we are speaking to the right party.