BANT is a popular sales qualification framework that helps salespeople identify and prioritize prospects based on their budget, authority, need and timeline. In this article, we will explain what each of these criteria means and how to apply them in your sales process.
Budget: This refers to the amount of money that the prospect has allocated or is willing to spend on your product or service. You want to find out if they have a clear budget, how flexible it is, and who is involved in the decision-making process. This will help you determine if they can afford your solution and how to position it in terms of value and return on investment.
Authority: This refers to the level of influence that the prospect has over the purchase decision. You want to find out if they are the decision-maker, the influencer, or the end-user of your product or service. This will help you tailor your pitch to their needs and expectations, and also identify other stakeholders that you need to engage with.
Need: This refers to the pain point or problem that the prospect is facing and how your product or service can solve it. You want to find out what their current situation is, what their goals and challenges are, and how urgent their need is. This will help you demonstrate how your solution can benefit them and create a sense of urgency.
Timeline: This refers to the time frame that the prospect has for making the purchase decision and implementing your product or service. You want to find out if they have a specific deadline, what are the steps involved in their buying process, and what are the potential obstacles or risks. This will help you align your sales cycle with their timeline and overcome any objections or concerns.