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  • Quality Qualification: BANT


    What is BANT?



    BANT is an acronym and a qualification framework that has been used for ages to determine whether a prospect is truly likely to become a successful customer. It can be used as a rubric or checklist for how to guide a call and make sure you’re investing your time wisely with prospects.



    BANT was originally conceived by IBM as a way to identify a sales opportunity, and has been a qualification workhorse across most business sectors ever since: according to IBM, “sales opportunities are identified by speaking to prospects or clients to determine their business and solution needs through a standardized approach called BANT.”



    BANT stands for:



    Budget– What is the prospect’s budget?



    Authority– Does the prospect have the decision-making authority/or are they an influencer?



    Need– What is the prospect’s business need?



    Timeframe– In what timeframe will the prospect be implementing a solution?



    Here are examples of BANT questions that have routinely been used:



    Budget



    -Do you have a budget set aside for this purchase?



    -Is this an important enough priority to allocate funds toward?



    Authority



    -Whose budget does this purchase come out of?



    -How have you made purchasing decisions for products similar to ours in the past?



    Need



    -What challenges are you struggling with?



    -What do you think could solve this problem?



    Timeline



    -How quickly do you need to solve your problem?



    -Do you have the capacity to implement this product now?



    For Funding Pros, BANT stands for:



    Budget– What is the prospect’s capital pricing decision criteria? (How are they evaluating whether they can afford your solution or not?)



    Authority– Does the prospect have the decision-making authority/or are they an influencer?



    Need– What is the prospect’s business need/project/goal/Business Outcome?



    Timeframe– In what timeframe will the prospect be looking to fund?



    Here are examples of BANT questions for Funding Pros:



    Budget



    -Have you done any business funding in the past?



    -What other financing for the business have you done?



    Authority



    -Are you the sole owner responsible for all key decisions?



    -How have you made key decisions for programs similar to ours in the past?



    Need



    -What projects are you working on now?



    -What do you need to achieve your outcome?



    Timeline



    -What date are you looking to fund by?



    -Do you have the capacity to fund this project now?



    For Funding Pros, BANT can be an effective qualification framework to efficiently drive calls and maximize our most precious resource: time. But it isn't the only tool available to us...



    Happy Funding!



    -FundingStrategist

    https://fundingstrat.com

    https://fundingstrat.com/quality-qualification-bant/



        What is BANT?   BANT is an acronym and a qualification framework that has been used for ages to determine whether a prospect is truly likely to become a successful customer.  It …




































































































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