In a previous blog I explored a number of qualification frameworks, of which BANT was one. In this post I would like to explore further the BANT methodology.
BANT is a sales qualification methodology used to determine if a prospect is a good fit for the products / services supplied by your business. It is based on their four pieces of criteria.
To use BANT successfully, all four characteristics need to be qualified. BANT can be applied in any particular order throughout a client conversation
Sample BANT qualification questions
What do you currently spend now on this problem or need?
We’ve calculated your team is losing X amount per [week, quarter, year] on this problem. How does that compare to the budget you’ve set aside?
We’ve calculated your team could potentially gain X amount per [week, quarter, year] by making this [change, investment]. How does that compare to the budget you’ve set aside?
Whose budget is this coming out of?
How much would it cost to build the system by yourself?
What would it cost if you haven’t fixed this issue in one years?
Is price a major factor in the decision?
Have you identified a budget range for this purchase?
What’s the ROI you’re hoping to see?
Who will be using the product?
What was the last time you bought a similar product? How did the decision making process go?
This is normally the stage other stakeholders get engaged to explore their perspective. Do you want to invite [others to our next meeting?
Will anyone else be involved in this decision?
When did you discover the requirements?
What steps have you already taken to address it?
How important is addressing this to your business goals?
What are your top priorities at the moment? Where does this fit on that list?
If you don’t address this, what happens?
Are there any forthcoming drivers events/deadlines that you’d like to have a solution in place by?
What’s your revenue goal for the next period? Will you be able to meet that goal without some sort of change?
Working backward from the date you gave me, we’d need to finalize our agreement by [earlier date]. Is that sound realistic?
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