One of the most difficult aspects of a salesperson’s work is qualifying leads. There are still a lot of qualification questions that a salesman needs to ask a prospect during a call, despite the fact that technology is there to assist.
But supposing you could organize that information-gathering procedure so that it fits your sales cycle? Fortunately, you can! You would employ a tried-and-true method called BANT – an acronym that stands for “Budget, Authority, Need, Timeline.”
Budget – How much is the prospect willing & able to pay for your product?
Authority – Who is the source of authority in this transaction? Who has the final say in matters?
Need – Has the potential customer a genuine need for my product? Is the team as a whole in need of this?
Timeline – How long will it take the prospective customer to decide whether or not to buy?
BANT is an important step in the sales process because it aids in the qualification of prospects during the discovery call. The sales team may obtain thorough information from the lead regarding their budget, stakeholders, need, and timescale rather than having to wait days or weeks to qualify leads using a score determined from the prospect’s behavior and involvement with marketing and sales materials.
How to Use the BANT Sales Process & Framework
1. Beyond just the money amount, comprehend the prospect’s spending plan.
2. Determine the parties involved in the decision-making process.
3. Identify the problem’s importance.
4. Establish a timeline for the sales procedure.
5. Stay informed by using a variety of sources.
6. Use technology to monitor your progress.
BANT has persisted throughout history because it is efficient, memorable, and adaptable to a variety of goods, prices, and sales procedures. In a two-way conversation, this paradigm works best when coupled with insightful questions that organically flow.
Try out BANT on your next discovery call to see how much information you can unearth if you’ve never used it before or if you believe it’s out of date for today’s sales process.
Want to improve your sales even further? Develop your BANT plan to incorporate even more inquiries you can make in order to qualify more leads and clinch more lucrative agreements.