When it comes to any sales strategy, it’s easy for reps to begin using the steps as a formula, forgetting that they’re working with a human being. The problem is that potential customers are human beings, and they sense when they’re being taken through a rote process. This is where the old BANT sales tactic runs into trouble. BANT stands for:
Budget: How much can the organization spend?
Authority: Who is the decision-maker?
Need: Does your product or service solve their problem?
Timing: When will they make a decision to purchase?
These are things you need to know to qualify a lead, but when you focus the conversation on what helps you make a sale, rather than the needs of your potential customer, the conversation gets stilted and stale. Your prospect begins to feel more like a target than a potential business partner, and they turn their attention to a company that treats them with more consideration.
Outsource for Better Conversations
Your sales reps may be rushing through the conversation simply because they have a lot to do, and qualifying leads can be a task that requires a lot of effort with little return. They may spend hours following up on potential leads while itching to solve challenges for existing customers or close on that big deal they’ve been cultivating.
Outsourcing to a contact center is a great way to take this burden off your sales team and turn it over to specialists seasoned in the art of BANT. What do they do differently? Consider these four best practices:
- They don’t look at the budget as an obstacle. It’s really about fit, and in so many industries, it’s no longer about capital expenditures but monthly operating expenses because of subscription-based payment models. Qualifying leads is about simply seeing if the budget matches.
- In B2B, they map out decision-makers. There’s likely a large budget and a lot of stakeholders involved. Asking an open-ended question, such as, “Tell me about the people involved in the project,” can help gain a better understanding of what the company is trying to achieve.
- They don’t just focus on finding out if your prospect needs your product. They learn about the difficulties they’re experiencing, including what will happen if they don’t act to solve the issues. What other priorities are they weighing this decision against?
- They learn about their speed and style with decisions. This is a company culture thing, and if they tend to sit on a decision for a long time, it’s good to know that so that you aren’t pushing too hard, too fast.
Achieving success with BANT isn’t about simply obtaining information. It’s about building a trusted relationship with conversations that benefit your lead. In addition to the basics, you can also learn more about what types of content might be helpful to them and which factors will weigh most heavily in their decisions.
The BANT process isn’t a quick fix for qualifying leads; it requires some time and some finesse. Let Blue Valley Marketing lead qualifications specialists free up your sales team. Contact us for more information about our services.
Last Updated on September 14, 2023 by Ronen Ben-Dror