BANT
A sales qualification framework for identifying good-fit prospects.
BANT is a sales qualification methodology that helps sales reps determine whether a prospect is a good fit for their product or service. It was originally developed by IBM in the 1950s, and it's still widely used today.
The acronym BANT stands for Budget, Authority, Needs, and Timeline. By asking questions related to these four areas, sales reps can quickly qualify or disqualify prospects and focus their efforts on the most promising leads.
- Type: Sales Framework
- Core Idea: Sales Qualification
- Key Elements: Budget, Authority, Needs, Timeline
The Four Components
Qualifying prospects with BANT.
Budget
Does the prospect have the budget to purchase your product or service? This is a critical question to ask early in the sales process. If the prospect doesn't have the budget, they're not a good fit.
Authority
Does the prospect have the authority to make a purchasing decision? If not, you'll need to identify the decision-maker and get them involved in the sales process.
Needs
Does the prospect have a need for your product or service? You'll need to understand their pain points and how your product can help them solve their problems.
Timeline
What is the prospect's timeline for making a purchase? If they're not looking to buy for another year, they're not a good fit for your sales pipeline right now.
Implementation & Strategy
Costs, timelines, and strategic considerations for adopting BANT.
Estimated Project Costs
BANT is a sales qualification framework, so it doesn't have a direct cost. However, there are costs associated with training your sales team on the methodology. These costs can range from a few hundred dollars to several thousand dollars per person.
Implementation Strategy
A typical BANT implementation starts with training your sales team on the methodology. From there, you can incorporate BANT into your sales process and CRM. The final step is to monitor and adjust your implementation over time to ensure that it's effective.
Comparisons
How BANT stacks up against other sales qualification frameworks.