BANT Method: Definition

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The BANT method is a sales technique That allows you to Classify and score your prospects according to their potential conversion success. It is a classic taught on the Akimbo Bootcamp to become a Business Developer.

Thanks to this method, the seller manages to know if the prospect is ready or not to make the purchase. Widely used by B2B marketers and sellers, it is also increasingly used in B2C.

The BANT method is based on four pillars:

Budget : the budget;
Authority : authority;
Need : the need;
Timeframe (time) : the deadline.

Typically, it will be used during a 1st customer appointment to determine the potential of a business opportunity.

What is the BANT method?

B for Budget - Know the financial capacity of the prospect

The question of price is an essential question for the consumer when making a purchase. If the price of a product/service is too high and exceeds the ceiling that they have set, the prospect may not complete the purchase. It is then interesting to classify your prospects according to their financial capacity.

This first step of the BANT method thus makes it possible to verify that the budgetary possibilities of the potential customer are in line with the price of the product or service offered. If an incompatibility is detected at this first stage, it is no need to continue the process. Because of the financial criterion, the lead (prospect) will never be converted into an opportunity and even less into a customer.

Here are some questions to ask your prospects to assess their potential budget:

What is your maximum budget for this product/service with all the features you want?
What budget do you have?
How much do you usually spend on this product or service?
Is this need important enough for you to devote funds to it?

A for Authority - Finding the Decision Maker

This step is a bit more complicated: it's about knowing the person who will have the last word on the act of purchase : The decision maker. It makes it possible to judge whether or not the prospect has the capacity to make a decision.

Generally, in a business, the individual who makes the first contact to make a purchase is not the decision maker. Thus, it is essential that you learn about the authority and decision-making capacity of your interlocutor in order to offer him a personalized customer experience. It's all about strategy. If you know that the potential customer has the capacity to make a decision then you can continue to qualify. If not, disqualify it.

Here are some questions to ask yourself at this stage:

Is the prospect involved in the purchase decision?
Are there other people involved in the purchase decision?
Is it necessary to continue with the qualification process?

N for Need - Determine the needs of the prospect

To offer a customer experience In order to meet the expectations of your customers, it is necessary that you determine the real needs of your prospects (leads). To do this, make numerous contacts with your prospects and find out as much as possible about them. What could be better for a potential customer than to feel listened to? By determining the needs of your prospects, you will be able to determine whether or not they are relevant to your product or service. If the product you offer does not meet the needs of your prospects at all, it is unlikely that they will make the purchase.

To get the most out of your prospects, ask yourself the right questions:

What can I offer this prospect?
How can I help my interlocutor?
What are my prospect's main priorities?
Why hasn't this issue been resolved so far?

T for Timing - What are the deadlines?

Finally, the last axis of this method refers to the concept ofExpiry time. It is necessary to check the needs of the prospect in terms of deadlines. You will have a good indicator of Level of urgency of the prospect, and therefore of the probability that it will close. Over time, the prospect's interest in the product always decreases. So obviously, focus on immediate needs and don't take too long to finalize the sale.

To avoid losing potential customers, be sure to ask the right questions:

When would you like to implement our solution?
It would be best if we finalized our deal by [specific date]. Do you think this delay is reasonable?

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BANT method - Example of use

The following example can be used as a basis for using the BANT method. However, this is by no means a universal example. So don't forget to take this remark into account!

After the start of a meeting via an icebreaker and an informal exchange, the salesperson and the prospect discuss the commercial proposal:

Sales representative : I understand that you have “problem X” within your team and that you would have liked to fix it, is that right? #need

Prospect : Indeed, we have seen that our teams, at least the 5 people in charge, are wasting a lot of time on this stage.

Sales representative : Ok I see, to set up this solution for 5 people, the cost will be Y euros. Does that fit into your budget? #budget

Prospect : Yes, it's good on our side.

Sales representative : May I also ask you who will sign the contract if we reach an agreement? #authority

Prospect : He will be our General Manager with the validation of the head of the purchasing department.

Sales representative : Perfect, thanks. And When do you want our solution to be operational in your company? #timing

Prospect : If possible by the end of the term.

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Why use the BANT method?

A complement to your prospecting method

The BANT method makes it possible to improve your prospecting method by effectively targeting the budget, needs, decision-making capacity and deadlines wanted by your prospects. Questions relating to the 4 pillars of this method can easily be asked in a classic conversation with an interlocutor. Thanks to these questions, you can qualify your prospect quickly and identify their potential conversion rate in a short time.

Otherwise, you also have the option of disqualify certain prospects who do not seem to be in line with what you are proposing or who do not have decision-making capacity. Most of the time, salespeople are hesitant to disqualify prospects for fear of losing potential future customers. They generally try to convince as many prospects as possible even though they are actually not relevant to their product. Your time is precious, dare to disqualify prospects and choose those who are worth it!

For your prospecting to be effective, the BANT method must be used carefully. Be careful to put the Right questions at the right time and make sure that your prospects answer the key questions of the method correctly.

By using the BANT method, you will quickly save valuable time. This will allow you to focus more on your most interesting leads, while significantly improving your performance.

Further analysis

The BANT method is a precise model that has proven itself over the years. It is a foundation that every society should have in order to ensure that everyone is talking about the same thing and going in the same direction. Thanks to this method, prospects are finely studied. It allows salespeople to focus their efforts on potential customers who have a high chance of becoming leads. And, with this model, it's easier to develop your opportunities.

A complement to MEDDIC

Finding new prospects and scoring them accurately is a process that can take time. Use the MEDDIC method in addition to the BANT method can therefore be a good idea. This method is a BtoB sales technique that makes it possible to identify opportunities and develop them. Through multiple questions, she defines the needs of the potential customer, The context and The keys to realization of each sales opportunity.

The MEDDIC method is known to be particularly effective in certain cases:

long sales;
the substantial budgets;
projects where there are different stakeholders;
products that are making a big difference.

BANT method - To go further

The BANT and marketing

The digital transition has triggered the automation of data and marketing actions. It is essential to practice the BANT method digitally. Combining marketing and the BANT method can be the solution for truly effective prospecting. The four pillars of this method lead to classification and scoring. In marketing language, the notation takes the name of Scoring. Scoring can be achieved thanks to Marketing automation (='marketing campaign automation) that allows you to distinguish leads with high potential from others and increase the profitability of the company.

With scoring and the automation of marketing actions, you will be able to offer a personalized service to your various customers. Marketing automation, CRM and scoring are tools that allow you to obtain an optimum BANT approach.

The GPCT method

Many salespeople choose to work with methodologies that are alternative to the BANT method. The GPCT model is a recent method developed by HubSpot. It is more precise and detailed than the BANT model and makes it possible to refine the contact with prospects.

G for Goals - Discover the motivations of your prospect

What does the prospect want? What is its objective? Does it want to meet its needs, increase its profitability, improve its performance?

First and foremost, you need to understand the company's motivations for your product or service. Ask yourself about his expectations, his reasons and the challenges around your potential collaboration. Look for possible inconsistencies so as not to be harmed later. (example: does your prospect usually buy their products from your competitors?)

P for Plan - What is their action plan?

What does the customer plan to set up his project? Does it have the necessary resources? Is the project finally feasible?

Ask yourself about the size of his project. The more important the latter is, the more its action plan and its resources should be structured using specifications.

C for Challenge - Understanding potential problems

Is the business facing challenges? Are there obstacles preventing him from achieving his goals?

Think of this step as a diagnosis of the company's internal and external situation. Identify the possible problems of the latter at these two levels. Remember to consider the challenges associated with your offer, such as technical incompatibility.

T for Timeline - What time frame?

What is the deadline for completing the project? What are the deadlines for the latter? If the timing is not really established, this highlights the lack of maturity of the project. So be sure to check the adequacy between your deadline and that of the prospect to avoid false expectations.

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