Follow their social media, sign up for their newsletter, and, for enterprise prospects, attend events they might have that are open to the public. While this step doesn’t fall into one particular step of BANT, it’s an important one that will help you stay ahead of any objections, delays, or concerns with your prospect. Identifying whether you're looking at months of red tape and approvals or a simple one-pitch-and-a-close type of deal can help you plan your pipeline and prepare for the close. Now it’s time to find out how quickly their organization needs to make a decision. You know the budget, who the decision-makers are, and the need they have for your product. Prepare a timeline for the sales process. Do your best to uncover your prospect, team, and leaders' needs as early as possible. This will inevitably cause kinks in the sales process down the road. While you’re asking your prospect the questions we recommended earlier, ask yourself the following questions: Are they highly motivated to solve it? What happens if they don’t? Is there a different initiative they care about more that will compete for their energy, attention, and decision-making capital?Ī prospect might say they have a particular need and may very well mean it, but the team’s or executive leadership’s priorities may be different. Next, figure out how important this problem is to the prospect. etc.) The more contacts you have, the more control you’ll wield - and the less chance this opportunity will slip through your fingers. Map out everyone who is involved in the process: Their job titles, decision-making role, priorities, and how you can get access to them (asking your champion to set up a meeting, reaching out to them directly. Even if one person is responsible for signing the contract, you’ll need to convince most of their team. There’s an average of three stakeholder groups involved in every deal. Most decisions are now made by a group rather than one person. Identify stakeholders in the decision-making process. If that aligns with your price, you have good reason to qualify the prospect on budget. If you sell a SaaS product, you can overcome the price obstacle by asking about the prospect's expected ROI. If you use a subscription model, then budget probably won’t be a blocker for most companies.īut now, most SaaS companies, for example, charge anywhere from $10 for basic plans to tens of thousands of dollars per month for enterprise plans. When reps were selling licenses in the old days, qualifying based on financial need made sense. Understand the prospect’s budget beyond the dollar amount. Use digital tools to track your progress.ġ.Stay informed through multiple channels.Prepare a timeline for the sales process.Determine the importance of the problem.Identify stakeholders in the decision-making process.Understand the prospect’s budget beyond the dollar amount.Rather than waiting days or weeks to qualify leads using a score derived from the prospect’s behavior and engagement with marketing and sales materials, the sales team can get detailed information from the prospect about their budget, stakeholders, need, and timeframe. Timeline - How much time will the prospect need to make a purchasing decision?īANT is a significant part of the sales process because it helps sales reps qualify leads during the discovery call. Need - Does the prospect have a true need for my product? Is this a universal need on the team? The acronym BANT stands for: budget - how much money the prospect is able and willing to spend authority - the ultimate decision-maker need - whether the prospect has a problem your business can solve and, timing - whether there is urgency to purchase your product or service.īudget - How much is the prospect willing and able to spend on your solution?Īuthority - Who is the authority figure in this sale? Who makes the ultimate decision?
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