In the world of sale in B2B, we designate as “qualified” a prospect that is likely to buy a product or service. To determine this degree of qualification of a lead, the BANT method is an extremely powerful tool, which continues to prove itself after many years of use by commercial teams.

BANT, what is it?

BANT is the English acronym of Budget, Authority, Need and Timeline. This classical method imagined by IBM in the 1950s and widely used in BTOB, aims to bring a specific framework to the commercial teams to better identify Qualified prospects. It relies on four major criteria: the budget, the decision-making authority, the need and the timing. The more a prospect check these four points, the more the probability it makes a purchase is high.

Why use the BANT method?

The BANT method is a great asset for commercials because it saves them time and be more efficient in:

  • Identifying prospects ready to buy and focus on them rather than less reliable prospects;
  • Understanding the way the person buys as well as the reasons that push it to act;
  • Detecting possible brakes and objections to the purchase and then better answer them with adapted solutions.

The beaning methodology shelled

Budget

The budget corresponds to the fact that a prospect is able to purchase the proposed product or service. Indeed, your offer can be the best in the world, if its price is a brake and does not correspond to the prospect budget, there is little chance that the sale will be done.

Here are some examples of possible questions:

  • How much does it cost you such a problem?
  • What medium budget would you be ready to put to solve such a problem or answer as much need?
  • Is your budget flexible?

Authority

The Authority designates the person who makes the purchase decision. This executive capacity may depend on one or more decision-makers. So, what you want as a commercial, it is precisely to send you to these same decision-makers so as not to waste time talking with someone who, anyway, does not hold the power to validate the sale. Attention, keep in mind that the purchase decision process is not the same in all companies.

Here are some examples of possible questions:

  • How is your decision-making process?
  • Who are the different decision makers involved in buying such product or service?
  • How can we get in touch with different decision makers?

Need

The need refers to the capacity of your product or service to solve the problem identified by your prospect. Indeed, this same product or service must above all be adapted to the need of your lead, to respond accurately and effectively so that it would eventually decide to buy it. It is also a question of demonstrating the value that your offer can bring to the prospect and its business.

Here are some examples of possible questions:

  • What are the challenges most often encountered by your business?
  • What is the problem / need identified?
  • What solution did you ever tried to remedy such a problem?
  • How do you evaluate the importance and priority of this problem / need?
  • What is the resolution of this problem could bring to your business?

Timeline

The timing is important in the sense that the solution you propose to the prospect must be in adequacy with its own delays and imperatives, without making you waste your time. So you have to make sure that the moment of purchase is appropriate for your lead. A delicate criterion since it comes to encourage the prospect to validate the purchase as quickly as possible, without the latter feeling pushed into this sense or obliged, because it could then change his mind.

Here are some examples of possible questions:

  • What is the degree of urgency about solving such a problem?
  • Do you have a deadline or a deadline for the establishment of such product or service?
  • Does a delay of x weeks seem appropriate to sign our agreement?

When you launch in this method with prospects, it is important to do that naturally, as if it were a simple conversation and not a pure and hard interrogation. Your approach must be skilled, subtle, while valuing the product or service you have to offer. Also remember to adapt the sales script to the prospect, customize it according to the problem and / or need identified. By following these tips and correctly applying the BANT methodology, you are likely to optimize your sales process and therefore increase the growth of your business.