It is a B2B management process and is used to evaluate the quality of a prospect. In itself, it is an effective way to examine whether a potential client is interested in your product or service that you are offering.
If you still haven't defined how to qualify your clients, this post can surely help you do so. Let's get down to business!
What does the Bant method mean?
Meaning of bant
If you think about it, it is a sales qualification process to bulk sms turkey stimulate and acquire an interest in a product or service to develop a high-quality sales pipeline.
Once you have this identified, based on the BANT criteria, you can use this information to prioritize your real potential customers and thus seek qualified leads based on your business.
BANT answers the following questions to get quality leads:
Budget: What is the prospect's budget?
Authority: Does the prospect have decision-making authority or is he or she an influencer?
Need: What is the prospect's business need?
Time: Within what time frame will the prospect implement a solution?
It should be noted that if your prospect does not meet any of the BANT criteria, the sales department and marketing team must be responsible for carrying out lead nurturing strategies (education or maturation of business opportunities), with the aim of closing the sales opportunity.
Breaking down each letter of the BANT methodBant - Budget
It's always a time for celebration when a prospect has a budget that's in line with what we offer in our product or service.
However, there are times when your prospect's budget is based on what they've seen from the competition or what they think they need.
How can the "B" in budget help your sales team?
They should focus on asking the right questions and getting to the bottom of your prospect's budget, thus developing an effective qualification. Here are some of the questions that can help:
How much would it cost you if the problem persisted for the next five years?
How much will price influence your decision?
What budget do you have allocated for this project?
What is the return on investment you expect?
If your client answers yes to any of these questions, it means the sales opportunity has a high probability of closing. However, if their answer is "in process," this indicates that the decision-making process will be delayed and the deal may not go through.
