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Watch this video to learn how sales qualification saves time and how to use the BANT framework to qualify sales leads.
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- Know your potential customers. Ask questions and be transparent. Get to know their struggles and challenges, and frame your conversations so that they see you as an ally rather than just a business contact. Above all, treat every customer or potential customer with respect and integrity.
- Leads who value quality over price
- Leads looking for custom fit and usability
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“We cannot negotiate with people who say what’s mine is mine and what’s yours is negotiable.”
John F. Kennedy
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Expand the following rows to explore how to qualify leads using BANT.
B—Budget
The “B” in BANT stands for budget. Can the prospective buyer afford your product or service? How much are they willing or able to spend? What’s the potential size or financial value of the deal?
To determine a lead’s budget, you can research a company’s financials. Or, if you are working with an individual, you can ask targeted questions such as:
- “Is there a budget approved for this purchase?”
- “What’s the budget range that you’re trying to stay within?”
- “What are you paying for your current or similar products/services?”
- “How would this product/service impact you or your organization?”
- “What’s the cost of keeping things the same?”
Tip: Don’t assume that funds are fixed. Budgets can stretch if you can demonstrate how the returns on your solution outweigh the initial investment.
A—Authority
“A” stands for authority. Is your lead a decision-maker? Do they have the authority to make or influence purchasing decisions?
For example, you’re more likely to sell a CRM system to a company’s director of marketing than a junior marketing specialist.
To determine a prospective customer’s level of authority, start online. Job titles are usually listed on company websites or public social media accounts (such as LinkedIn). You can also ask targeted questions such as:
- “What is your decision-making process?”
- “Who else is involved in making this decision, and what are their roles?”
- “How can I help you demonstrate this solution to others in your organisation?”
Tip: Larger companies and more major purchases typically involve more people, or even a decision-making committee.
N—Need
The “N” in BANT represents need. Does your product or service fit the prospective customer’s needs? Do they have a problem that your offering solves?
Questions that uncover a sales contact’s needs might include:
- “What are you looking for in a solution?”
- “What does your current process look like?”
- “What challenges are you currently facing?”
- “What attracted you to our product/service?”
- “What are your key objectives or priorities?”
- “What results do you hope to produce?”
- “Why isn’t your current product/service provider working for you?”
T—Timeline
The last letter in BANT stands for timeline. When is the lead looking to buy? How long will the sale take?
For example, a large company may need to spend their remaining budget before the end of the fiscal year—or they may need to postpone a purchase until the next fiscal year when their budget replenishes. Determine whether a prospective customer’s timeline aligns with your sales cycle—and prioritise the lead accordingly.
Questions that can help you understand a lead’s timeline might include:
- “What’s your time frame for making a decision?”
- “When do you hope to implement a solution?”
- “Do you have a deadline?”
- “Are you locked in any contracts with vendors/service providers? When do they end?”
- “Why are you looking for a solution now?”
The “B” in BANT stands for budget. Can the prospective buyer afford your product or service? How much are they willing or able to spend? What’s the potential size or financial value of the deal?
To determine a lead’s budget, you can research a company’s financials. Or, if you are working with an individual, you can ask targeted questions such as:
- “Is there a budget approved for this purchase?”
- “What’s the budget range that you’re trying to stay within?”
- “What are you paying for your current or similar products/services?”
- “How would this product/service impact you or your organization?”
- “What’s the cost of keeping things the same?”
Tip: Don’t assume that funds are fixed. Budgets can stretch if you can demonstrate how the returns on your solution outweigh the initial investment.
“A” stands for authority. Is your lead a decision-maker? Do they have the authority to make or influence purchasing decisions?
For example, you’re more likely to sell a CRM system to a company’s director of marketing than a junior marketing specialist.
To determine a prospective customer’s level of authority, start online. Job titles are usually listed on company websites or public social media accounts (such as LinkedIn). You can also ask targeted questions such as:
- “What is your decision-making process?”
- “Who else is involved in making this decision, and what are their roles?”
- “How can I help you demonstrate this solution to others in your organisation?”
Tip: Larger companies and more major purchases typically involve more people, or even a decision-making committee.
The “N” in BANT represents need. Does your product or service fit the prospective customer’s needs? Do they have a problem that your offering solves?
Questions that uncover a sales contact’s needs might include:
- “What are you looking for in a solution?”
- “What does your current process look like?”
- “What challenges are you currently facing?”
- “What attracted you to our product/service?”
- “What are your key objectives or priorities?”
- “What results do you hope to produce?”
- “Why isn’t your current product/service provider working for you?”
The last letter in BANT stands for timeline. When is the lead looking to buy? How long will the sale take?
For example, a large company may need to spend their remaining budget before the end of the fiscal year—or they may need to postpone a purchase until the next fiscal year when their budget replenishes. Determine whether a prospective customer’s timeline aligns with your sales cycle—and prioritise the lead accordingly.
Questions that can help you understand a lead’s timeline might include:
- “What’s your time frame for making a decision?”
- “When do you hope to implement a solution?”
- “Do you have a deadline?”
- “Are you locked in any contracts with vendors/service providers? When do they end?”
- “Why are you looking for a solution now?”
Check your understanding of the sales qualification process by clicking on “Check Your Understanding” in the space below.
