BANT is not dead…
Some say that BANT is dead. BANT, if you remember, is the acronym for qualification criteria for a lead which represents:
1. Budget
2. Authority
3. Need
4. Timeframe
Some marketers will attempt to get a rise out of others by declaring that these criteria are wrong, and then they proceed to add other qualification criteria and still include some form of BANT.
The reasoning for declaring BANT dead is misleading; and it is usually a marketer that is making the declaration. Not a salesperson.
If you ask a salesperson what their qualification criteria for an inquiry, sales lead, suspect or prospect is (pick you poison), they will always say,
When I ask about authority, they say,
“Selling to the “Leaf Level” person is out. I may talk to them but I have to get to the person with the authority to buy or OK the deal. If the person has no authority I am often wasting my time. But I still need to know the title. It need not be a c-level person.”
But I say, what about need; do they have to have a declared need?
“Without need, no one will be able to make the argument that they want the product. The buyer must articulate that a product over-comes a problem, and the need-payoff is in saved time, increased productivity, or saved money.”
And lastly, we come to Timeframe. If there is no declared timeframe for the sale, the deal is just a pipe dream. Salespeople say, “Without a timeframe I can’t forecast and that is a deadly sin in sales.”
Of course,
• Only 20-30% of the inquiries will answer the budget question.
• 60% will answer the authority question.
• Need will garner the most answers at 60-70%.
• Timeframe is similar to budget only20-30% are answered.
Add in a few questions about the application of the product, etc., and a sales representative will have a good feeling of the qualification level of the prospect. If you stop asking these questions you will not be able to judge the value of the lead source when it first arrives and later when the lead is closed out as lost or won. The salespeople will also say you are out of touch with sales.
No, BANT is not dead, not even close. If marketers stop trying to get these questions answered, they are doing their reps a disservice. A large disservice. But...
Inquirers Lie
And please remember the universal rule of the inquirer, they lie. They lie about budget, they lie about need, seldom about authority, but sometimes, and they give the wrong timeframe. so if they lie, why ask? Because they don't always lie. And the sales rep must ask the questions anyway. Why not help them up-front and help them prioritize the leads with meaningful answers? See opposing views below.
Can I agree and disagree? Depending on what you sell and and to whom you are selling determines qualification criteria. Shorter, less complex sales cycles have simpler qualification needs. Even there, I will push back on BANT.
Suppose you gain access to a prospect with authority who meets your best customer persona. They have not yet determined need or budget, so there is no timeline either. The critical, overlooked quality is you were given access. This person is giving you the opportunity to develop a purchase for them. This is the moment went top performers role up their sleeves and go to work.
Buyers who check off B-A-N-T or deep in the purchasing cycle. They are speaking with all of your competitors. It's too late to position yourself ahead of the pack an you're in a foot race.
Working with a prospect who had authority and gave me access is where we differentiated ourselves and established firm footing as a trusted adviser.
Did we avoid pre-qualified, ready to purchase buyers? Absolutely not. We did heavily invest in fresh opportunities by getting in before there was a but cycle established. This takes more work and effort, but the long-term results paid well.
In addition to BANT, there are critical qualities we measured to evaluate opportunities. We disqualified a considerable amount of sales who had budget, authority, need and timeline. For example, we di not sell price - ever.
BANT may not be dead but it is only one small piece in the qualifying puzzle. Salespeople sitting around on their hands waiting for "qualified leads" and not developing or creating opportunities are missing out on the best sales opportunities, respectfully and IMO.
Posted by: Gary S. Hart | 07/27/2013 at 11:56 AM
Thanks Gary. A very thoughtful response. I agree BANT is a small piece. Liked your thought about salespeople just sitting but my experience is that most can't afford to wait if the leads aren't there.
Posted by: Jim Obermayer | 07/27/2013 at 05:40 PM
Jim, please forgive my typos, iPhone auto-correct is even worse and turned off!
You are 100% correct "that most [salespeople] can’t afford to wait if the leads aren't there." Prospecting is a dying art. Marketing generating leads is critical to sales success. Yet, generating leads is only one part of the marketing puzzle. In my experience, expecting marketing to provide 100% of the leads is unrealistic and sales maintaining this expectation is unacceptable.
The belief by sales that marketing should provide "ready to close leads" dates back to before my sales days. I learned very quickly that I needed to augment with prospecting and referrals to achieve my sales goals and as a sales manager and executive, trained my people to do the same.
As often as I take the side of sales in the alignment battle, I side with marketing to establish realistic expectations from the sales side of the table. My gosh, if marketing could provide an endless supply of near-ready to close leads, why would we need salespeople?
Posted by: Gary S. Hart | 07/27/2013 at 06:19 PM
My experience is that salespeople who get a good flow of inquiries and leads can make about half their quota from leads and the rest comes from current customers and prospecting.
Posted by: Jim Obermayer | 07/30/2013 at 09:03 AM