BANT is a lead qualification methodology
that stands for Budget, Authority, Need, and Timeline. It is a widely used framework for evaluating the quality of a sales lead
and determining whether a potential prospect is a good fit for your product or service. Here's what each of the BANT criteria means:
How to Use the BANT Sales Framework and Process?
- Budget: Does the prospect have the financial resources to purchase your product or service? Can they afford to invest in what you're offering?
- Authority: Is the prospect someone who has decision-making power within their organization? Are they the person who can make the final call on whether to buy or not?
- Need: Does the prospect have a problem that your product or service can solve? Is there a clear fit between their needs and what you have to offer?
- Timeline: Is the prospect ready to buy soon? Do they have a specific timeframe for making a purchase?
- Understand the prospect's budget beyond the dollar amount.
- Identify stakeholders in the decision-making process.
- Determine the importance of the problem.
- Prepare a timeline for the sales process.
- Stay informed through multiple channels.
- Use digital tools to track your progress
By assessing each of these criteria, you can determine whether a lead is a good fit for your product or service and prioritize your sales efforts accordingly. If a prospect meets all four BANT criteria, they are considered a strong lead and worth pursuing. If they don't meet all four criteria, they may not be ready to buy or may not be a good fit for what you're offering.