What is Sales BANT?
BANT is covered in almost every article on how to close good quality sales, appointments, demonstrations, meetings.
For those that haven’t come across it before here’s the basic premise – the person you’re engaging in the sales process needs to be qualified against the following profile
Budget – are they the budget holder? Is the budget available for this purchase providing the solution satisfied the need?
Authority – does this person have the authority to make the decision to buy? r are they a referrer, or person of influence?
Need – is there a need for what you are selling? Has this need been sufficiently quantified as being big enough to justify an investment
Timing – has the timing been agreed? Providing the solution is suitable to satisfy the need, has the sign date been agreed?
A typical BANT usage might be something like this…
Ok, Mr Buyer, just so I get some insight into how we’ll proceed can I just ask you, have you already got budget signed off for this purchase or does it need to go to the board? (Budget)
Great, and will it be your decision alone as to buy from me, or will you be making broader recommendations to the board? (Authoity)
Ok, understand, we’ve agreed that our solution can deliver what you need in terms of X, Y, Z, we agreed those are the critical and crucial criteria for you going ahead, and that our solution will alleviate the issues we’ve identified in X, Y, Z? (Need)
Excellent, and further to (the next action) you’ll be able to send the purchase order number across so we can get delivery for the week after next. (Timing)
Excellent thank you.
Obviously, this is a top line BANT summary. I encourage sales professionals to use BANT all though the sales process.
We cover it in more detail in all of our sales training courses and sales coaching programs. You can contact me for more details on email@example.com, plus it’s a subject we regularly reference in The Advanced Business Achiever – just hit the link for your free copy
Magnify the Power of Sales BANT
BANT is only part of the story. It’s an important part. However, on it’s own the power of BANT is very restricted, it’s a shout into the wilderness. It’s one hand clapping.
Very simply, BANT tells you that you are in the right position(or not) and you’re talking to the right person (or not) and you have some steer on the buying/decision making process. This is really important when you’re chasing quotes, really important. Ask anyone who has been randomly chasing the prospect who disappears once the quote has been sent. Hit this link Anyone Seen My Buyer? – if you want to have buyers chasing you to buy from you
So how do you really amp the power of BANT?
You do this…
You combine BANT with Sales ROI (for more details on Sales ROI just hit this link to discover how High Performing Sales people work Sales ROI)
How to Combine Sales BANT and Sales ROI
Concentrating just on the Needs section in BANT.
Need is the most powerful motivator for change. Whether that’s to amend behaviours, persuade someone to buy a product/service or simply make different choices…
Those decisions are all driven by need. The bigger the need, the faster, easier, more compliant the buyer will be during the buying process
So, if you can create a powerful enough need with your buyer, then you have a huge motivator to use with your buyer to help them select to take action. To take action fast. That makes a big difference, especially if you’re working in a highly competitive space (and who isn’t working in a competitive market?)
8 Key Ways to Increase the NEED Factor in BANT Using Sales ROI
- Fully explore the current ‘pain’ points associated with the current solution
- Explore what those pain points have cost the buyer in the past
- Extrapolate, realistically, what those pain points could cost the buyer in the future if nothing changes (this is the cost of doing nothing)
- Remember that the pain could be pain other than financial. It could be stress, loss of clients, brand damage, reputation, ill will among colleagues who have to pick up and solve the same problems again and again or failure to comply with authority etc
- Once you’ve fully explored the past and future costs, add them together…that can be quite the motivator in itself!!
- Next, look at some blue sky thinking. Note – you’d be totally weakening your NEED factor if you look at the blue sky scenario building before exploring the pain, since people will typically do more to escape pain than seek pleasure.
- Knowing the Pain/Pleasure Principle, check out some what if questions…what would it mean to your business if you could do X? What would it mean if you never had to deal with that again? How would you feel if you could illuminate that issue all together? What would that mean to your bottom line? What would that mean to your work relations? Your client relations? Whatever is relevant…
- Next, go back to the pain position and summarise the cost of doing nothing.
So, when you come to ask your Need based questions in BANT, they might sound something like this…
Ok, understand, we’ve agreed that our solution can deliver what you need in terms of increasing your brand reputation with your customers after some of the issues you’ve had before, will allow you to have total confidence in the promises you make to your customers, and will really improve the relationships in the warehouse and customer service teams since they won’t be taking as many complaint calls… we agreed those are the critical and crucial criteria for you going ahead, and that our solution will alleviate the issues we’ve identified in losing the X account at Xmillion per yr, losing part of the Y contract at Y million per yr and having the Z tender going back out to review?
See how powerful that statement is now you’ve fully quantified the prospects position if they do nothing?
(As a separate aside, just consider how easy it is to chase a quote once you’ve identified this level of need!)
Why Does Using Sales ROI with BANT Help You?
Because using one without the other is just one hand clapping. You’re going through the motions but nothings really happening, compared to what could be happening!
If you’ve gone to the trouble of speaking with the key decision maker, then the next task is to motivate them to take action. BECAUSE motivated buyers take action, they take action quickly, and they see value (which helps you protect your margins)
Some people might call it persuasion, and that’s ok, but either way, think of it as making it easy for the prospect to say yes! Making it easy for the prospect to make a decision. Making it even easier for the prospect to make a fast decision (because that means your competitor can’t sneak in at that last minute!)
That way you’ll be creating a real no-brainer sales proposition…and let’s face it, who says no to the no-brainer proposition?
Try it out.
You’ll wonder how you ever closed without it. You’ll also start to understand why some of your sales didn’t close when/how they should.
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