Glossary
BANT
Qualifying framework for budget, authority, needs and timeline
The acronym BANT stands for Budget, Authority, Needs and Timeline. BANT is an old school qualifying framework that’s older than nearly every sales rep using it.
BANT was developed by IBM in the 1950’s and is a (very) basic framework for determining if it’s worth continuing to pursue a lead. It comes down to questioning leads to verify if your contact checks off these four boxes:
-Budget: do they have the necessary budget?
-Authority: do they have the authority to make a purchasing decision?
-Needs: do they have a need for this product?
-Timeline: will this purchase fit within their required timeline?
The problem with BANT is that it’s over-simplistic and doesn’t represent how buyers make decisions today. If the product you’re selling actually provides value, then it’s never about “budget” or “need.” Value and urgency are more important to qualifying an opportunity.
If you’re looking for a qualifying framework suited for today’s economy, BANT isn’t your best bet. Take a look at MEDDIC instead.
BANT was developed by IBM in the 1950’s and is a (very) basic framework for determining if it’s worth continuing to pursue a lead. It comes down to questioning leads to verify if your contact checks off these four boxes:
-Budget: do they have the necessary budget?
-Authority: do they have the authority to make a purchasing decision?
-Needs: do they have a need for this product?
-Timeline: will this purchase fit within their required timeline?
The problem with BANT is that it’s over-simplistic and doesn’t represent how buyers make decisions today. If the product you’re selling actually provides value, then it’s never about “budget” or “need.” Value and urgency are more important to qualifying an opportunity.
If you’re looking for a qualifying framework suited for today’s economy, BANT isn’t your best bet. Take a look at MEDDIC instead.