Business Development

The BANT framework provides a simple, structured way for sales teams to qualify sales opportunities. BANT stands for Budget, Authority, Need and Timeline. Evaluating these four elements helps sellers determine if a lead or prospect is truly sales ready and warrants additional time investment.

Assessing Budget involves confirming there is sufficient available budget allocated by the prospect company to make the potential purchase. Without budget in hand, deals stall. Discussing specific budget numbers or ranges gives clarity.

Understanding Authority means identifying the economic buyer with the power to make the actual purchasing decision. Engaging with empowered decision makers, rather than just influencers, is essential to progress opportunities.

Determining Need focuses on the prospect's business challenges, pain points, or growth initiatives driving urgency and priority for a solution. Strong needs qualify prospects. Vague or minor needs signify low sales potential.

Checking Timelines refers to verifying the prospect's purchase process stage along with the timeframe or deadlines for selecting a vendor. Knowing the buying cycle and timeline helps sales map requisite steps.

Using the BANT criteria during sales conversations and opportunity reviews enables reps to consistently qualify whether prospects merit further investment at that time. It also indicates gaps needing attention before progressing the opportunity.