BANT for Lead Qualification Just Won’t Work

ANNUITAS

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.

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What is Predictable Pipeline and How Does the Sales Funnel Play a Role

Heinz Marketing

Recently, I was doing some SEO keyword research, and it showed people are confused between the sales funnel and sales pipeline; many people believe they are the same based on search behavior. Companies will spend many resources to fill a sales funnel with leads, but forego the fundamental elements that create a predictable pipeline. What is the difference between a sales pipeline and a sales funnel? Importance of understanding the sales funnel.

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New ABM Measurement Matrix: Evaluating performance across buying stages

Heinz Marketing

Developing precise measures of how well sales and marketing efforts are performing is arguably even more important with ABM, since the integrated approach between sales and marketing at each stage of the buying process can make isolating individual impact variables more difficult. Buying cohort discovery calls: When sales can get multiple members of the buying committee on one call, that can help accelerate velocity and is a key measure for sales productivity early in the buying process.

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Lead Nurturing: 5 Useful Tactics to Get More Opportunities

The Empathy Marketing Blog

In this post, I’m going to share how to apply lead nurturing to help advance leads through three stages of your demand generation funnel to get more sales qualified opportunities. Remember this: Our customer’s don’t see our funnels. Yet, it’s helpful to notice that all customer buying cycles fit into three distinct funnel stages. Middle of the Funnel (MOFU): At this stage, people took some conversion step to express interest (subscribe, register, or download, etc.).

Lead Nurturing: 5 Useful Tactics to Get More Opportunities

B2B Lead Blog

In this post, I’m going to share how to apply lead nurturing to help advance leads through three stages of your demand generation funnel to get more sales qualified opportunities. Remember this: Our customer’s don’t see our funnels. Yet, it’s helpful to notice that all customer buying cycles fit into three distinct funnel stages. Bottom of the Funnel (BOFU) – People are moving through a series of micro-yeses and decisions on their journey.

In Defense of Demand Generation in the Age of ABM

The Point

Much has been made of the argument that Account-Based Marketing (ABM) gained traction so quickly in B2B marketing primarily because traditional, funnel-based demand generation has stopped working. But it would be a mistake to suggest that ABM somehow “replaces” demand generation or that the funnel-based approach is an idea past its time. Whether it’s intent data or BANT-qualified cost per lead (CPL) programs, demand gen has become a race to the next short cut.

A Conversation on 7 Buyer and Sales Trends to Watch in 2011

Tony Zambito

  In addition, we know from the people who survey sales trends, such as Sirius Decision , CSO Insights , and McKinsey , today’s buyers get through nearly 70-80% of the buying process BEFORE they engage with sales people.    On top of that, the entire buying experience is fragmented.  Most of sales and buyer thinking over the last 100 years have revolved around the AIDA and BANT process. Image via Wikipedia.

How to Start Generating MQLs Like a BOSS

PureB2B

Sales-Ready Leads Aren’t in Infinite Supply: At any given time, roughly 3% of your target audience is in “buying mode.” JUST STOP With the BANT: 60% of the products I purchased in the past two years had no defined budget.

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Learn how to qualify leads and leverage your sales results

RockContent

Your job is to drive this lead down a kind of journey that we call a sales funnel. In this way, many leads will realize that your company or your product is not exactly what they need, and they will leave the funnel. Think about it: you invest a lot of time developing a sales funnel.

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Why We recommend 5 Lead Stages

Heinz Marketing

It would be a perfect world if everyone you spoke with at your last event was ready to buy today. At Heinz marketing, we recommend five lead stages to our customers to help guide a prospect through the sales funnel to make a purchase. When we develop the lead stages, this process works in tandem with defining the buying committees and building out the personas. We start every journey with upper funnel content, then slowly build up to the product offerings.

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What Is The Cost Of A Lead?

Marketing Insider Group

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. And deliver them leads that are truly “ready to buy.”

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3 Ways to Use Lead Scoring Within Your Marketing Automation Programs

Customer Experience Matrix

There is, however, another use for lead scoring: assigning leads to stages as they move through the marketing funnel.** Conceptually, assigning leads to funnel stages is quite different from calculating their probability of making a purchase. A funnel stage is defined by meeting specific criteria such as BANT (budget, authority, need and timing) and engagement (downloading a paper or providing contact information).

5 Ways to Implement MQL Marketing Tactics

Only B2B

However, getting MQL marketing leads, the ones that are most likely to convert, are far more difficult since it requires you to put in a lot of research and develop a complex funnel. However, generating marketing qualified leads by using MQL marketing tactic are more likely to work their way down the sales funnel which is a struggle for most marketers. Must Read: Steps to Reintroduce BANT in Modern B2B Sales Cycle. Propel Prospects at the Top of the Funnel.

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Only B2B - Untitled Article

Only B2B

Level of engagement helps determine readiness in buying. Top-of-the-funnel leads: These prospects aren’t looking for a solution. Middle-of-the-funnel leads : These prospects are well aware of their problems and looking out for solutions. Bottom-of-the-funnel : They are almost ready to buy. BANT system. We have used BANT (Budget, Authority, Need and Time) system for several of our clients and the results are always impressive.

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The Difference Between Prospecting and Lead Generation and Why It Matters for Your Sales Team

Belkins

As a result, leads get in your sales funnel and turn into loyal customers. As it is very difficult to predict whether your leads will buy from you, it is crucial to qualify them according to the criteria mentioned above.

Marketing 101: How to get started in lead generation

B2B Lead Generation

Value Proposition: How to use social media to help discover why customers buy from you. Is it an email address that you buy from a list? Is it someone who has a big enough budget and the proper authority to buy your product? B2B Marketing: Why Marketing shouldn’t promise BANT qualified leads for Sales. Lead Gen: A proposed replacement for BANT. Tweet I was recently reading your blog “ Lead Generation: Who knows the customer better – Marketing or Sales?

Streamline Lead Qualification with Technology Intelligence

HG Data

It enables your sales teams to score and prioritize accounts so that they focus on those with high propensities to buy. BANT (Budget, Authority, Need, & Timing) is a popular method for qualifying potential buyers. This article uses BANT to demonstrate how technology intelligence can determine if an account fits your ICP without direct outreach. According to Gartner , the typical buying group for a complex B2B solution involves six to ten decision makers.

How to Qualify a Lead: The Battle-Tested B2B Framework

SnapApp

Product planning, marketing funnels and sales enablement will only get you so far — after that, it’s all about scaling the sales machine. And, it all starts with marketing efforts that fill the top of the funnel with poor quality leads: Or, put another way, poor lead qualification. Have the authority to say “Yes, let’s buy this”, not “Um, I’ll have to check with my boss”. Be going to buy soon — not when they’ve raised a seed round in 2 years time.

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How to Excel With Sales Pipeline Management

Valasys

Neglecting lead qualification results in wasted down the funnel endeavors. Asking the BANT questions help marketers deduce: If the prospect is qualified to benefit from the niche-specific solutions that you’re providing.

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How to Convert Marketing Qualified Leads to Sales Qualified Leads

Only B2B

They are aware of their pain point but most they are not ready to buy. Must Read: Steps to Reintroduce BANT in Modern B2B Sales Cycle. This is also called the BANT qualification method. Let’s say you are targeting Top Of the Funnel leads (TOFU). TOFU leads and not ready to buy so there is no point in sending them “salesy” content. Let me get one thing out of the way. Not all leads are at the same stage.

Only B2B - Untitled Article

Only B2B

After receiving a few “ shop now ” emails, I would not open their newsletter because I know I don’t want to buy anything right now. Level of engagement helps determine readiness in buying. Top-of-the-funnel leads: These prospects aren’t looking for a solution. Middle-of-the-funnel leads : These prospects are well aware of their problems and looking out for solutions. Bottom-of-the-funnel : They are almost ready to buy. BANT system.

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When Should Marketing Hand Leads to Sales for Closing?

PureB2B

When leads enter the funnel, they can be at any stage of the buyer journey. The decision-maker in their team or organization i s ready to buy. One of the significant differences between them and sales qualified leads is their readiness to buy. A lead scoring system makes the job of converting leads easier since it lets you know which ones are most valuable and further along the sale funnel. Divide your funnel into three segments: top, middle, and bottom.

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Only B2B - Untitled Article

Only B2B

Level of engagement helps determine readiness in buying. Top-of-the-funnel leads: These prospects aren’t looking for a solution. Middle-of-the-funnel leads : These prospects are well aware of their problems and looking out for solutions. Bottom-of-the-funnel : They are almost ready to buy. BANT system. We have used BANT (Budget, Authority, Need and Time) system for several of our clients and the results are always impressive.

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Are MQLs Still Relevant?

PureB2B

The challenge most teams encounter in getting MQLs to sales development representatives (SDR)and then having these leads cycle through the sales funnel. MQL has expanded from the confines of Budget Authority Need Timeline (BANT) lead quality assessment to becoming more targeted with the use of intent data. MQL coupled with the powerful predictions of intent data allows sales teams to determine who is ready to buy.

How to Shorten Turnaround on Inbound Lead Generation

Zoominfo

A strong inbound lead generation funnel is reliant on a compelling, easy-to-understand experience on a company website (duh!). Retaining unconverted leads comes at no cost, but the ongoing obsession with adding more prospects to the funnel can undermine the value of lead nurturing. These aren’t prospects, just noisy data points that either inflate or deflate metrics within your sales funnel. This is where sales funnel awareness is important.

2013 Year in Review: Top 6 focus areas for B2B marketers this year

B2B Lead Generation

The power of content is that you can use different content pieces to speed up their pulse and get them to a purchasing decision by moving them deeper into the conversion funnel. Using this, he reinvented his lead funnel and applied his discoveries to everything from landing pages to call scripts. This idea of moving from ‘sell’ to ‘helping your customers buy’ is at the heart of social business.

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The A-Z Guide to B2B Lead Generation

NuSpark

Specific dashboards exist to manage each step of the funnel; from prospect attraction to conversion to lead close. F- Funnel Optimization. Where marketing and sales need to work together as leads proceed through the funnel. Nurturing content, social media, and sales/follow-up approaches all need to work in sync to ensure leads do not leak out of the funnel. Marketing Automation is a platform that is key to funnel optimization and marketing/sales alignment.

Optimizing Inside Sales with ABM Strategies

PureB2B

If executed right, ABM is a smart step to drive your accounts down the sales funnel. For example, you may want to increase long-term revenue within a specific industry vertical or a set of accounts based on your organizations BANT requirements. Establishing this impression with prospects can accelerate the buying process and bring in increased profitability.

MQLs: The Beginning of the End and the End of the Beginning

Aberdeen HCM Essentials

Based on this, two bad things are about to happen (and is the direct reason why they lost this opportunity): Based on their behavior, this account is going to buy from someone in the next 6 – 8 weeks, or at least prepare an RFP. This opportunity was not assigned, and no further relevant communication took place that you would expect when an opportunity is well down the sales funnel. Marketers often make assumptions and misplace value on MQLs.

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How Great B2B Data Helps Sales & Marketing Teams Improve Productivity, Performance, and Revenue

DealSignal

Faster inbound lead follow-up pays off: a study by Lead Connect found that 78% of customers buy from the company that responds to their inquiry first. According to Gartner , “the typical buying group for a complex B2B solution involves six to 10 decision makers.”

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B2B Lead Generation: The Best of PowerViews

Pointclear

Tony Jaros, Sirius Decisions, talked about “Establishing Presence at the Earliest Stages of Buying”. Brian Carroll, MECLABS, talked about BANT and the Value of Warm Leads. In the questions, he continues to see a big opportunity around progression and believes BANT has to happen in the process. Buying cycles are changing. It’s important for you to be further up the funnel.

The Ultimate Smarketing Glossary: 62 Common Sales Terms Explained for Marketers

Hubspot

Another way of saying "the buying process." They are the four steps of the now somewhat-outdated Purchase Funnel (although most agree the funnel is much more complex than what is represented in this traditional model), wherein customers travel from awareness to purchase. It''s a famous tool for sales reps and sales leaders to help them determine whether their prospects have the budget, authority, need, and right timeline to buy what they sell. Buying Signal.

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4 Steps to Change the Game on Sales-Qualified Lead Performance

SnapApp

In the B2B sales funnel, they’re the key that unlocks the door to a sale. But, in the world of modern marketing – with dozens of digital and traditional channels – it can be challenging to build a lead gen funnel that delivers quality – and that’s an important clarifying adjective – quality sales-qualified leads (SQL). Developing a reliable demand gen funnel that’s rich with sales-qualified leads is a common pain point among marketing and sales teams.

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4 Steps to Change the Game on Sales-Qualified Lead Performance

SnapApp

In the B2B sales funnel, they’re the key that unlocks the door to a sale. But, in the world of modern marketing – with dozens of digital and traditional channels – it can be challenging to build a lead gen funnel that delivers quality – and that’s an important clarifying adjective – quality sales-qualified leads (SQL). Developing a reliable demand gen funnel that’s rich with sales-qualified leads is a common pain point among marketing and sales teams.

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Frankenstein: the State of B2B Data

Capstone Insights

Consider the waterfall or marketing funnel, something that every B2B marketing/sales executive is familiar with. If a person demonstrates BANT on two different offerings, does that count as one or two inquiries, etc.? This one “tactical’ issue drives waterfall/funnel reporting. Though B2B companies could gain benefit from core concepts like buying centers, personas have fallen by the wayside.

A Frankenstein Made of Frankensteins: the State of B2B Data

Capstone Insights

Consider the waterfall or marketing funnel, something that every B2B marketing/sales executive is familiar with. If a person demonstrates BANT on two different offerings, does that count as one or two inquiries, etc.? This one “tactical’ issue drives waterfall/funnel reporting. Though B2B companies could gain benefit from core concepts like buying centers, personas have fallen by the wayside.

Trusting Your Partner is Critical in Your Strategic Prospecting Strategy

TrueInfluence

Adding more MQLs into the top of your funnel? Asking these questions may seem like no-brainer, but many vendors will simply try to sell you a drip of BANT leads to route in standard nurturing campaigns. If your funnel has gaps at certain stages, a targeted telephone-based demand gen program (such as our ActiveBase ) can level that out. Conversations with B2B marketing and demand generation vendors often go something like this: “We have this thing we want to sell you.”.

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