Qualifying sales deals has always been a challenge for sales leaders. There's a whole host of different sales methodologies, from BANT to SPIN to MEDDPIC etc. What's special about BANT is that it's truly simple. It was leveraged by IBM as one of their core frameworks, and it stands for budget, authority, need, and timing. These four core elements make up the core of qualifying a sales deal.
Do they have the budget to fund this initiative? Does this individual have the authority to make a decision and sign off on a deal? Do they have a need, and is there real pain, does our solution solve a real problem for them? And do we understand the timing, is there urgency, is this the time to make a decision on this deal.
- How much is the prospect able and willing to spend?
- Does the prospect have decision-making authority, or influencer?
- What is the prospect's business need? Can you solve it?
- In what timeframe will the prospect implement a solution?