Intro: What is BANT?
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BANT stands for Budget, Authority, Need, and Timing. Each element represents a key aspect of the qualification process.
BANT is an acronym commonly used in sales to qualify and assess the viability of a potential sales opportunity.听
听It is a framework that helps sales teams determine whether a prospect is a good fit for their product or service and whether it is worth investing time and resources into pursuing the opportunity further.听
鈥Why are we using BANT?
- The BANT framework helps sales teams prioritize their efforts and allocate resources effectively by focusing on opportunities that have a higher likelihood of closing successfully.听
- If a prospect meets the BANT criteria, it indicates that the opportunity has a strong foundation and is worth pursuing further.听
听 - However, it's important to note that BANT is just one of many qualification frameworks, and different organizations may use variations or combine BANT with other criteria to assess potential opportunities.
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How to use BANT in Initial Qualification
A sales team can use the BANT framework (Budget, Authority, Need, and Timing) as a systematic approach to qualify and assess potential sales opportunities.听
BANT helps sales professionals determine whether a prospect is a good fit for their product or service and whether the opportunity is worth pursuing further.听
How a sales team can effectively use BANT in initial qualification:听
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BANT Discovery Questions
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Use these questions to uncover an opportunity and ask 'Why' or 'Tell me more' to dig further in their responses.
Click into Specific Persona Questions here:听
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鉃 #Persona card 1听
鉃 #Persona card 2
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BANT Email Flow
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Between the cold call answer & the "meeting booked" call you schedule with the prospect, try to secure BANT via email.
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Based on your 1st interaction, see below flow chart of how to integrate BANT into your email follow-ups.
馃悪听BANT EMAIL same day
馃悪 BANT EMAIL pre-meeting
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Meeting Reminder | BANT Email Template
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Challenge: Buyers come unprepared. Can change the agenda and we are not prepared = wasted meeting.听
Goals: What BANT criteria do you have left to uncover? How responsive have they been (watching videos, answering via email, webinar signups?, etc).听
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Based on their level of activeness, craft your pre-condition email to set yourself up.
- Sent 24+ hours before meeting
- Confirms Date/Time/Attendance of meeting
- Offers a teaser or small valuable insight (include a resource for them to pre-read or watch)
- Sets/Reframes expectations
- Builds confidence in partnering with you
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HI <INSERT NAME>,
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Looking forward to our conversation on <DATE AND TIME>. When you have a chance, here are a few questions I'll cover or you can send back prior to ensure we're aligned on our call. [Insert BANT Questions that you still need to capture]
- Learn more about some of your challenges & top priorities:
- What is driving the need for a 鈥榅XX鈥 solution? (specific project rollout, poor tool adoption, etc)
- Is there a specific timeline you are looking to implement a solution to this need or are you in the exploratory phase?听
- Do you have a specific budget amount set aside to fund this project, or would that need to be requested based on vendor's solution?
- Overview of 'Just in time Learning'
- Next Steps in your evaluation
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Here is a great resource for you to review ahead of our call: <INSERT RESOURCE>.
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Look forward to connecting.
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Meeting Booked | BANT Email Template
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Challenge: Keeping the momentum of interest from the prospect + YOU WANT a BANT or NO BANT quickly.听
Goals: As soon as you make a connection [cold call, email response, LinkedIn] you are starting or continuing BANT.
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- Sent SAME DAY you set the meeting
- Confirms Date/Time/Attendance of meeting
- Offers a teaser or small valuable insight (include a resource for them to pre-read or watch)
- Sets/Reframes expectations
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HI <INSERT NAME>,听Looking forward to our conversation on <DATE AND TIME>. I wanted to share this agenda and a few questions for you to answer prior to ensure we're aligned with the proper context for our call.听Agenda:
- Learn more about some of your challenges & priorities over the next 3-6 months:
- What is driving the need for a 鈥榅XX鈥 solution? (specific project rollout, poor tool adoption, etc)
- Is there a specific timeline you are looking to implement a solution to this need or are you in the exploratory phase?听
- Do you have a specific budget amount set aside to fund this project, or would that need to be requested based on vendor's solution?
- Quick Overview of 鈥楯ust in time Learning鈥 & 天涯海角APP
- Next Steps in your evaluation
听Please let me know if you want to add anything or anything specific you would like to cover. In the meantime, [Here is a听great video resource]听for you to review ahead of our call to give you context as to what 天涯海角APP solves for.
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If you feel anyone [Authority] else should be invited to this call, feel free to add them! I look forward to connecting.听
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[Signature]
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Objection Handling | Budget
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How can we overcome 'Budget Objections':
馃帴听听(4 mins)
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What will you hear from a prospect or customer?
- We don't have budget for a new tool.
- We don't have a line item for this, so we'd need to pull budget from elsewhere.
- This isn't something we are looking to purchase right now.
- We are on a budget freeze.
- We only budgeted $5k (or some other low amount) for this.
- We are just in the exploratory phase.
- We aren't comfortable sharing our budget.
馃挷We need to teach our buyers how to buy...
Use this framework to craft an objection response:
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Acknowledge: Show empathy & understanding of the objection
鈥Respond: Re-confirm the problem, intent to solve and timeline (this means you should start by outlining their pains/need)
鈥Pivot: Ask open-ended questions
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馃摓 Example Talk Tracks:
Additional Resources:
