Lead Qualification: Rethinking BANT in the Modern B2B Sales Cycle
MARCH 22, 2016
In today’s complex B2B sales cycle, it’s important that an organization’s sales and marketing teams create a clearly defined and agreed upon, definition of a qualified lead. Distinctly identifying where the lead handoff happens is the first step in creating a seamless transition between sales and marketing. Why is BANT Failing Marketers? What pages are they visiting?
Lead Gen: A proposed replacement for BANT
B2B Lead Generation Blog
SEPTEMBER 9, 2013
I suspect marketers do so because they have heard about “BANT qualified leads” and apply these criteria to Web forms. For the uninitiated, BANT is an acronym: B = Budget. It’s time to move BANT methodology into retirement. As I wrote in my previous B2B Lead Roundtable Blog post , BANT is not feasible without someone having a conversation with a prospect.
Banning BANT: Redefining Quality Lead Criteria and Handling Moot Objections
Sales Prospecting Perspectives
JULY 18, 2013
Both marketers and inside sales reps are familiar with the oft-referenced BANT acronym, whether in identifying qualified leads or handling objections: Budget, Authority, Need and Timeframe. Prospects may still be hiding behind these objections, but now that they know prospectors can immediately refute them, how much longer will they continue to use them? How well? Budget.
BANT for Lead Qualification Just Won’t Work
JULY 10, 2014
About two years ago I wrote a blog post on Why BANT No longer applies for B2B Lead Qualification. Given the environment in which we live as B2B Marketers, BANT (Budget, Authority, Need and Timeframe) is not a trustworthy indicator of the qualification status of the leads. In addition to the reasons I stated back in 2012, let me add a few more to those who still may have an issue with striking BANT from their lead qualification process. BANT is not Aligned to a Buying Process. “I I am in the sales accepted stage of my buying process” said no B2B buyer ever!
BANT Isn't Enough Anymore: A New Framework for Qualifying Prospects
AUGUST 22, 2013
A long time ago, IBM revolutionized sales with the introduction of BANT. The mantra is familiar to any salesperson: qualify your prospects based on their Budget, Authority, Needs, and Timeline. According to a study by CEB, buyers are now 57% of the way toward a buying decision when they first make contact with a salesperson. BANT isn''t good enough anymore. Goals.
Power Opinions - BANT is BUNK … Revisited
SEPTEMBER 24, 2013
BANT is an acronym for Budget, Authority, Need and Time Frame. I have written articles and blogs against BANT (as a lead qualifying criterion) for years. A couple of months ago I read a blog by Ardath Albee entitled “BANT is Bunk, BS and Irrelevant”. Next, I reached out to my Power Opinions team (PowerViews alumni) to find out what they thought about BANT. BANT has always been BUNK for salespeople. More buyers self-educate long before they contact a prospective seller.". BANT is not dead in high traffic, SMB offers. BANT isn’t BUNK.
BANT: Is it Still a Useful Tool for B2B lead Qualification?
Great B2B Marketing
SEPTEMBER 11, 2013
I just read, and commented on, a thought-provoking article titled Lead Gen: A proposed replacement for BANT. Written by David Green, the premise of the piece is that the BANT formula, for the most part, is no longer relevant. To refresh your memory, BANT stands for Budget, Authority, Need and Timing. For some time, these factors were considered the four criteria that best demonstrated that a specific individual or company was a qualified lead, and not just a raw inquirer or possible future prospect. Let your prospects percolate. Promote higher-level offers.
Why BANT No Longer Applies for B2B Lead Qualification
AUGUST 28, 2012
The goal for the majority of our programs was to have our telemarketers qualify names, gather some information and qualify these prospects by the famed BANT (Budget, Authority, Need, Timeframe) criteria. We were quite successful in developing these programs for our clients and the leads were graded based on the answer to the BANT questions. a more “modern” way of marketing that makes BANT no longer effective for several reasons. Don’t get me wrong; I do believe that in any sales process a sales rep should discuss these key criteria with their prospects.
How to Refine Your Sales Methodology
NOVEMBER 17, 2016
Bob’s view: Traditional lead qualification, such as the over simplified BANT criteria (Budget, Authority, Need and Timeframe) are inadequate to reflect the dynamics of today’s complex buying process. If your ultimate goal is to identify well-qualified opportunities where your solution stands an excellent chance of being selected by your prospect if you implement a thoughtful and effective sales strategy, then a more sophisticated qualification process is called for. ADOPTED stands for: Authority. Decision Criteria. Options. Priority. Timing. Economics. Thank you!
Today’s B2B Marketer Must BAT, not BANT
B2B Marketing Traction
FEBRUARY 6, 2013
What is marketing’s role before it hands off a lead to sales? Today marketers need to BAT, not BANT. BANT stands for Budget, Authority, Need and Timeframe. Marketing could pass a lead on to sales if the lead or prospect had the right Budget, Authority to buy, Need for the product or service and an identifiable Time frame in which they would buy.
B2B Lead Nurturing Myths That Promote Sales Pipeline Leaks
It's All About Revenue
JUNE 22, 2016
You Can Nurture a Complex Sales Cycle with Email Alone. Probably the best way to nurture is to use emails for leads which you believe are in the early stages of the buying cycle. So you might want to use this tactic when it appears as if someone is closer to buying. First, your leads are all in different phases of the buying cycle. ” — Benjamin Franklin.
Lead Generation: How using science increased teleprospecting sales handoffs 304%
B2B Lead Generation Blog
SEPTEMBER 23, 2013
There’s something I wish I would have known when I wrote my best-seller, Lead Generation for the Complex Sale. Anyone who has worked in inside sales knows that sales professionals are always informally testing to learn what works and what doesn’t. How can we get the most sales handoffs with the least effort? Uncover a sales-ready lead. Simply stated …. Test #1.
Dynamic Duo: Close More Deals with Sales and Marketing Alignment
Modern B2B Marketing
APRIL 7, 2016
Author: Stacey Thornberry A joint Marketo and Reachforce research piece found that businesses are 67% better at closing deals when sales and marketing work together. And in previous posts I’ve written about how critical it is for marketing and sales to work together to create best practices, deliver more quality leads, and drive higher-impact deals. SQL = sales qualified lead.
6 Steps To A More Successful B2B Sales Approach
The Forward Observer
APRIL 7, 2015
Are you adjusting to the changing way B2B prospects are buying? I’ve been going to sales training for over ten years. Occasionally, my friend the sales trainer shows movie clips or tells stories about sales people who are “doing it wrong.” In B2B sales, a consultative approach to selling is becoming more important. They want to learn but not be pitched.
B2B ABM: Seven Sales & Marketing Tips for 2017 - Tip #2 Should Marketing and Sales Agree on the Definition of a Lead?
DECEMBER 14, 2016
Should marketing and sales agree on the definition of a lead? According to James Obermayer ( Sales Lead Management Association ), the fact that there is no agreement between marketing and sales on lead definition results in these problems: Salespeople say that they are not getting enough qualified leads. Marketing tries to generate greater numbers of prospects.
The Ultimate Smarketing Glossary: 62 Common Sales Terms Explained for Marketers
NOVEMBER 12, 2014
Sales and marketing teams are both responsible for the growth and revenue side of the business -- and yet, many of them still tend to operate like two opposing teams. The goal of "smarketing" is to help bring sales and marketing together as one team, which involves constant, effective communication. Keep on reading to brush up on your sales knowledge. Buying Criteria.
Unpack Your Sales Funnel
MARCH 7, 2013
Sales has come a long way from the Glengarry Glen Ross days of high pressure and aggressive tactics. Especially in the last five years, sales and marketing roles have shifted and this impacts the way the funnel breaks down as well. Mr. Stacy Gentile and I delivered a webinar, “ Unpacking the Sales Funnel ,” on this very topic, which I invite you to watch. Sales is hard.
30 Terms Every Sales and Marketing Professional Should Know
SEPTEMBER 11, 2016
Here are some of the terms every sales and marketing professional needs to know: A/B Testing. Refers to the various stages in the sales funnel. Sometimes called “the buying process,” this refers to the stages a potential customer goes through—from learning to purchasing or rejecting. An activity whereby a sales representative offers more than just one product or service.
What Sales Should REALLY Expect From Marketing Automation
JUNE 9, 2014
But what can your organization realistically expect in terms of sales? How about a 2x higher bid-to-win ratio for the top 20% of your sales reps? Gleanster Research has just published a fine new report, “What Sales Should REALLY Expect From Marketing Automation.” 89% reported sales cycle time was tightened. The answer to that may lie in the context sales operates in.
How to Tackle the Most Common B2B Sales Objections
JULY 9, 2013
Getting objections during your sales process is expected … though it can be one of the most frustrating aspects of selling. Although they can be frustrating, objections are another opportunity for you to use your expertise to influence qualified prospects'' decision to buy and even weed out prospects who aren''t a great fit for your product or service. Objection 3: Need.
What Is The Cost Of A Lead?
B2B Marketing Insider
DECEMBER 8, 2014
And a shockingly large number have not even identified their sales funnel. Refresher Course On BANT? If you don’t know what BANT is, BANT is a common lead scoring technique of seeking to determine if a prospect has the Budget, Authority , Need and a specific Timeframe for making a decision to buy a solution. What Is The Cost Of A Lead?
BANT - It's Not Always The Lead Score
MARCH 19, 2009
I woke up this morning to these three tweets relating to @nivenor1 's recent market2lead blog post titled: The SCOTSMAN vs. BANT for Effective Lead Management nivenor1 : New post about BANT vs. The SCOTSMAN on our blog [link] , now its off to Guatemala for 10 days! Ahhhhh brianjcarroll : Read post by @nivenor1 : SCOTSMAN vs. BANT for Effective Lead Management asserts "BANT" isn't enough. link] mark3803 : @brianjcarroll BANT is so sales 1.0 - Sales 2.0 is all about the Buy Cycle not the Sales Cycle. (I sales Do you agree?
Intro to Lead Generation: How to determine if a lead is qualified
B2B Lead Generation Blog
JANUARY 14, 2013
I thought it might assist many readers, especially those newer to the complex sales and marketing process (and thank you to Felix for allowing me to share this publicly). Defining a lead as qualified basically means they are qualified to talk to a sales representative. Essentially, this is a prospect who has a high likelihood to buy and is ready for sales engagement.
Do You Qualify?: The Leads Test You Must Pass
MARCH 23, 2016
Naturally, a question such as this should turn your mind towards your prospecting machine and your capabilities when it comes to harvesting leads and creating conversions with cold emails. And how you can fill your sales pipeline with only qualified leads. Are in control of their own buying cycle and are completing self-education research. What is a qualified lead? Simple.
Hey Marketing: An Inquiry Is Not A Lead
B2B Marketing Insider
APRIL 20, 2015
And this drives a deeper wedge in the goal of marketing and sales alignment. The Bottom Line: When marketing gathers up new names from contact forms and dumps them over to sales, no one wins. I spent the first 5 years of my career in sales. And marketing needs to partner closely with sales. So, what is getting in the way of so many sales and marketing conversations?
BANT - It's Not Always The Lead Score
MARCH 9, 2009
I woke up this morning to these three tweets relating to @nivenor1 's recent market2lead blog post titled: The SCOTSMAN vs. BANT for Effective Lead Management. nivenor1 : New post about BANT vs. The SCOTSMAN on our blog [link] , now its off to Guatemala for 10 days! brianjcarroll : Read post by @nivenor1 : SCOTSMAN vs. BANT for Effective Lead Management asserts "BANT" isn't enough. mark3803 : @brianjcarroll BANT is so sales 1.0 - Sales 2.0 is all about the Buy Cycle not the Sales Cycle. (I Good sales people can help create BANT.
25 Helpful Sales Blogs You Don't Want to Miss Out On
AUGUST 15, 2013
So naturally, we''ve written about some of the best inbound marketing blogs on the internet (on our blog), but we hadn''t taken the time to find some of the best sales blogs out there. So, we scoured the internet looking for the best writers and thought leaders in sales. So without further ado, and in no particular order , here''s our list of our favorite sales bloggers!
The Very First Step To Take For Better Quality B2B Sales Leads
The Forward Observer
JUNE 30, 2015
Sure, you're generating sales leads, but are they good leads? The same kind of logic, applies to generating better quality B2B sales leads. To begin to generate quality leads, get sales and marketing in the same room. Sometimes, the marketing and sales people haven’t even met each other. Timeline – What is their buying time frame? We listened intently. Seriously.
The Secret of Converting Leads into Sales
Sales Intelligence View
MAY 9, 2012
When you’re a B2B sales rep, few things feel worse than spending weeks or months on a high-priority prospect only to find out that your biggest competitor won the business. Fortunately, you can turn things around with a simple secret: if you master the art of qualifying your leads, you can achieve greater sales with less time and effort. The BANT framework is very effective.
Sales Qualification Isn’t an Event - It’s a Process
APRIL 23, 2013
As CEO of UK-based Inflexion-Point Strategy Partners , Bob works with the leadership teams of technology-based B2B-focused companies, enabling them to make the critical connections between their marketing messages, their sales conversations, their true differentiators, and their customer''s priorities. Many sales pipelines include a stage labeled “qualified”. And you’re not the only party doing the qualifying—your prospect is going through a similar exercise throughout their buying decision process. BANT Won’t Help. It’s time to return to our prospect.
There Is No Vending Machine For Marketing Qualified Leads
Digital B2B Marketing
MAY 17, 2012
Here is a hypothetical, yet very realistic, snippet of a conversation with a publisher: Marketer: We are looking for demand generation opportunities that will deliver leads for sales. At best, the resulting program is a list of relatively targeted contacts, not leads that are qualified and appropriate to pass to a sales team as leads. What is your target audience? That’s our promise.
3 Ways to Use Lead Scoring Within Your Marketing Automation Programs
Customer Experience Matrix
JULY 1, 2012
I wrote last week about the difficulty of linking marketing leads to sales results. The practical use of lead scoring is to decide which leads to pass from marketing automation to sales, or, even more pragmatically, to predict which leads will be accepted by sales.* Many companies today have inserted a phone call between marketing automation and the sales department, screening every plausible lead before sending them to actual salespeople. This reduces the need for scoring accuracy because the phone call will clarify whether the lead is sales ready.
Lead Qualification: The Secret Sauce of B2B Lead Generation Marketing
SEPTEMBER 26, 2013
The Number One rule in B2B marketing: Never, ever, pass an unqualified lead to your sales force. Because they’ll hate you in the morning… But seriously, if the role of B2B marketing is to provide leverage to sales, then burdening a sales rep with a prospect who is not a realistic potential buyer is no help. Potential sales volume. Industry. Parent company.
6 Reports, Alerts & Strategies for Increasing Sales & Marketing Productivity
JULY 2, 2014
If you’re on the marketing team, you’re likely responsible for delivering quality inbound leads to your sales team. If you’re on the sales team, you’re accountable for new business – and probably don’t care where the leads are coming from as long as they’re hot! Often sales prospecting falls in this category. Sales – Make sure you sign up for alerts! Pretty cool!
Inside the Mind of the B2B Buyer – New Paths to Purchase
APRIL 14, 2011
There’s been lots of discussion about how the B2B buying cycle has changed, but this presentation used actual data — they surveyed B2B buyers. Only if you care about revenue results, such as a CEO, Board Member, Head of Sales, or Head of Marketing. Just like the comet took out the dinosaurs, a comet (named “the Internet ) forever re-engineered the way people buy.
Using Content to Move Prospects Forward in the Sales Cycle
Industrial Marketing Today
MAY 5, 2010
Home Marketing Matters About Contact B2B Marketing Store Company Website Using Content to Move Prospects Forward in the Sales Cycle by Achinta Mitra on May 5, 2010 in B2B Lead Generation , B2B Marketing Collateral , Content Marketing , Industrial Marketing Strategies , Sales Strategies We often think of online content as the text on a web or blog page. All Rights Reserved.
The A-Z Guide to B2B Lead Generation
DECEMBER 5, 2011
Specific dashboards exist to manage each step of the funnel; from prospect attraction to conversion to lead close. Its one thing to know the demographics of your target audience; but it’s another thing to understand what makes your prospects make business decisions to purchase; the pain points; business needs; drivers; purchase cycles. Email is a critical element of marketing, providing an opportunity to promote follow-up content to prospects. Where marketing and sales need to work together as leads proceed through the funnel. B- Buyer Personas. G- Google.