What is BANT?
BANT is an acronym for the company’s allowable Budget with which to purchase, Authority (to purchase), Need (for a solution), and Time (invested courting the prospect). The main purpose for using the BANT method is to improve the business’ sales funnel and increase revenue. In an effort to reduce wasted time, BANT is commonly used by sales teams regarding how sales-ready a lead may be. Essentially, the more likely it is the deal will be closed when a lead’s budget, authority, need, and deadline to close is known. Pre-qualifying prospects is less expensive. Automating prospect screening typically generates the most cost-effective results (i.e.: mass mailing campaigns, surveys, free offers, etc.).