BANT is a qualification framework designed to help sales professionals identify and prioritize qualified leads effectively. Its primary aim is to streamline the sales process, save time, and shorten sales cycles. Originally developed by IBM, BANT focuses on uncovering opportunities through conversations with prospects or clients about their business needs and potential solutions.
The framework consists of four key criteria:
- Budget: Does the prospect have the financial capacity to afford your product? Assess whether their budget aligns with your pricing structure.
- Authority: Is the prospect a decision-maker or someone with the authority to approve the purchase? Ensure your main contact has the power to move the deal forward.
- Need: Does the prospect have challenges or issues your product can solve? Identify if there is a clear need for your solution.
- Timeline: How quickly does the prospect need a solution? Evaluate the urgency of their situation by discussing their desired time frame for addressing their problems.
BANT is versatile and can be applied across industries, whether you’re in a SaaS company or a marketing agency, making it a reliable tool for assessing leads in various contexts.