The digital age has changed the playing field. A decade earlier sales & marketing team would hunt and farm for prospects. And then go on to sell their products and services. But with the advent of web and social media tools customers research for the right products and vendors. Can you imagine 93% of the prospects log onto the net to research on their products? Customer seems to know more about seller’s product and services.
The game has changed; but the criteria for qualifying the leads have not and would like to share the age old formula that still floats. The formula BANT is simple that speaks for itself and every sales person should apply BANT to increase the quality of sales funnel. Off course respective organization should customise and script their questions.
BANT – (Budget, Authority, Need and Timeframe)
BUDGET: Is budget available or not for project? If not will budge be provided ?
AUTHORITY: What is the contact’s title? Are they a decision maker, influencer, Purchaser, user or others?
NEED: What problem are they trying to solve? Are they just researching?
TIMEFRAME: When do they want to make a purchase decision?
Based on the above 4 criteria you can qualify the lead and place it in the appropriate funnel slot.