Lead Qualification Using BANT Method

Your sales team's time is valuable. How can you know which leads are most likely to buy and deserve more attention? Here is a widely used method to qualify leads.

Qualified or not?

Initially, you’ll know very little about a lead. Most of the time, all you have is a name, phone number, and company. Before you embark on a weeks-long sales process with them, it’s a good idea to check that they meet your criteria for a qualified lead.

Every business has different qualification criteria for their leads. If you don’t think a lead is qualified, you must not invest time to sell to them.

A reliable method to qualify your leads

Focusing on these can make the qualification process easier:

Budget • Authority • Needs • Time frame

To use this method, talk with your leads or otherwise collect information about them. Check that they meet your expectations in all four areas:

Do they have the budget?

Money is always a tricky question, but if you are investing your valuable time, you must know that your prospective buyer can afford whatever you are hoping to sell.

Are they authorized?

Your lead may be working for the right company, but they may be in the wrong department, or not in a position to influence a purchase decision. In such cases, see if they can get you in touch with a more qualified lead.

Do they need it?

Leads can show interest in many things, sometimes just out of curiosity, but at the end of the day, they only buy what they need. It is your responsibility to check that you can deliver what they need.

What is their time frame?

Buyers with lots of time in their hands are not ideal. They shop around, pit you against competitors, take time to bargain, and may even change their minds and decide not to buy after all. As the sales process drags on, the cost of selling increases, as does the pressure on your prices.

Identifying qualified leads early on can drastically improve sales productivity. Always qualify your leads before you start the sales process. TeamGram has a separate section for leads. Use it.

Share on linkedin
Share on twitter
Share on facebook