BANT is a sales term that stands for Budget, Authority, Need, and Timeline. It’s a framework commonly used by sales and marketing teams to qualify leads and determine if a potential customer has all the elements needed to make a purchase.
The four key elements of BANT are:
- Budget: Does the lead have the financial resources to make this purchase?
- Authority: Does the customer have the decision-making authority to work with us?
- Need: Does the customer have a genuine need for the product or service we are offering?
- Timeline: Is the customer willing and able to make a purchase in the near future?
By gathering this information, a sales representative can determine whether a potential customer is a good fit and whether it’s worth investing further time and resources in pursuing them.
For example, if a customer has a budget, authority, need and timeline for a software solution, the sales representative can proceed with further discussion and negotiation.
BANT is commonly used alongside MEDDIC as part of a sales process.