The four-letter code - BANT



What's BANT?

BANT is a sales qualification method. BANT stands for B = Budget, A = Authority, N = Need, T = Timeline. It was introduced by IBM to help it's Sales team identify if leads were Sales Qualified or not. Here's what the IBM website has to say.

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A brief about BANT

  1. Budget - Does your solution fit the budget of your prospect?

On a Sales call, a metric to qualify a prospect by the means of knowing the budget of the prospect is crucial and helps a salesperson determine whether or not the prospect has the budget to buy your solution or product.

2. Authority - Is your prospect a decision maker/ stakeholder?

A qualification metric that comes into purview under BANT, is to understand if the prospect is the decision-maker or not.

3. Need - Are you catering to the pain point of your prospect?

This metric helps in understanding a prospect's pain points better, which then leads to solution selling.

4. Time - How soon will the prospect actually give you a green flag?

Knowing your prospect's time frame will always help you, estimate your timing for first-touch to conversion.

Questions usually used in BANT

  1. Budget
  • How much are/would you spend on similar products/services?
  • What's the assigned budget for this solution? Are you in charge of financial decisions?

2. Authority

  • Are you going to be the admin for this solution?
  • How does the decision-making process look like?

3. Need

  • What does your current process look like?
  • Where do you run into hurdles?
  • How soon are you planning to implement our solution?
  • How much does your current solution bother you on a scale of 0-10?

4. Time

  • How does your buying process look like?
  • What types of time constraints are you working with?
  • Are there any contracts from other solutions you’re already signed to? Until when?
A quick conversation between Ryan the Sales Star and Nicole the prospect
Ryan - Nicole, if I summarize this correctly, you want to solve problem X?
Nicole - Yes, that's correct!
Ryan - It seems to be a big need for you and the company..
Nicole - Yes, that's the reason we are prospecting among other tools in the same niche as we speak.
Ryan- Awesome. Well, it sounds like you have secured a budget for this solution?
Nicole - Yes, we have!
Ryan - That's great! So, how does the buying process look like?
Nicole - I am the decision-maker, the purchasing team will soon get involved and we are planning to freeze a solution by end of this quarter, 3 weeks from now!
Ryan - That's great! Let's work on onboarding you and the team till then!

Is BANT still valid?

I have read multiple posts that claim BANT to be a prospecting method that's dead! According, to me, BANT is still valid, though it just needs to be a bit more modernized with a different order:-

N = Need - What kind of impact can your solution bring to your prospect?
T = Time - How soon can you deliver this impact?
B = Budget - Is your solution's pricing reasonable? Can you justify the pricing to the prospect?
A = Authority - One person decision-making process is something that happened in the 90s, I think. Today, teams sit together and make a decision for a solution.

I'll be thrilled to see a new name for BANT soon!

Until then,

Happy Selling! 🙌

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