Lead Gen: A proposed replacement for BANT

B2B Lead Generation

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. So, even if Marketing owns an inside sales operation, asking the reps to use BANT criteria is misguided.

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B2B Marketing: Why Marketing shouldn’t promise BANT qualified leads for Sales

B2B Lead Generation

The approach is dubbed BANT. Let’s start by creating a common language for lead qualification that makes more sense than BANT. With all due respect to Ardath, I have interviewed hundreds of elite salespeople and have rarely heard any of them demand BANT criteria. Unless Marketing owns an inside sales operation (and few marketing teams do), delivering BANT leads is completely impossible. Marketing can’t deliver BANT leads without an inside sales operation.

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BANT Criteria in a Buyer-Centric World? No More

ANNUITAS

Everyone in sales and marketing knows what BANT stands for – Budget, Authority, Need and Timeframe. Is BANT still meaningful in 2016? The ways in which buyers buy is fundamentally different today than when BANT was first introduced. Vendors and sales people are not the gatekeepers of information any longer and multiple analyst reports state that buyers are generally through 50-70% of their buying journey by the time they first interact with sales.

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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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Selecting The Right B2B Telemarketing Vendor

Only B2B

Account Based Telemarketing Appointment Generation Content Opt in Telemarketing Confirmed Call Back Telemarketing Leads Lead Generation, Branding, Building/Adding Subscribers BANT Leads Highly Qualified Leads. The post Selecting The Right B2B Telemarketing Vendor appeared first on Only-B2B.

Why BANT No Longer Applies for B2B Lead Qualification

ANNUITAS

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. BANT is dead.

Why BANT No Longer Applies for B2B Lead Qualification

ANNUITAS

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. BANT is dead.

Lead Nurturing: 5 Useful Tactics to Get More Opportunities

Markempa

Use online alerts to the main phrases in your industry to find content from bloggers and industry publications that are vendor agnostic and can share with your lead nurturing audience through a short synopsis and a link. Lead Nurturing account based marketing B2B BANT Qualified buyer personas conversion rate optimization CRO customer-centric demand generation empathetic marketing journey map lead quality Lead Scoring

Beware the Siren Call of Pre-Qualified Leads

The Point

There is a growing trend in the content syndication space, and among Cost Per Lead (CPL) programs in general, for media vendors to offer B2B clients the option of pre-qualified leads. Whereas typically, content syndication has meant acquiring leads, at a fixed cost, that are filtered by criteria such as job title, geography, and company size, now many publishers and other lead generation companies are adding the option of BANT criteria such as purchase timeframe.

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The Most Important Driver in B2B Sales and No One is Measuring It

xiQ

You’re asking a buyer to take a risk making a decision with the organization’s money, on a vendor or solution they don’t know, with only the promise of a reward to come. Let’s take BANT (Budget, Authority, Need and Timing) as an example.

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Is Your Lead Generation Strategy Broken?

ViewPoint

One such method, BANT, can result in more lost opportunities that than CEO’s and CFO’s care to believe. A BANT qualified lead requires that the lead has a budget in place, the authority, need and a specific timeframe. If you’re using BANT, you might as well answer “No” to question 1 because most BANT qualified leads have already selected a vendor – putting you in the position of providing a competitive quote with no chance of winning.

Lead Nurturing and the Inside Sales / Telesales Role

Avitage

They may be qualifying, using a BANT process, opportunities that have been created through marketing programs — something one of my partners refers to as “waterboarding to BANT.” ” The “come from” for lead qualification (and certainly appointment setting) is primarily a vendor perspective — when will you be ready to talk with a.

How To Automate Lead Qualification for Increased Response Rates

Zoominfo

When marketers look over a lead’s qualifications, they examine their engagement with the brand along with their b udget, a uthority, n eeds, and t imeline (BANT). In fact, 35-50% of sales go to the vendor that responds first.

In Defense of Demand Generation in the Age of ABM

The Point

Demand marketers have fallen victim to the siren call of vendors who would have us believe that finding the right buyer, at the right time, with the right need is really just a matter of having the right data or software. Whether it’s intent data or BANT-qualified cost per lead (CPL) programs, demand gen has become a race to the next short cut.

How to Start Generating MQLs Like a BOSS

PureB2B

JUST STOP With the BANT: 60% of the products I purchased in the past two years had no defined budget. IBM created BANT in the late ’60s and this is still the best we got?

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More Evidence That Waiting Even 5 Seconds to Contact a New Sales Lead Can Be Disastrous

The Point

Software Advice analyzed more than 6 million unique visitors to their own Website between 2008 and 2013, and the impact that various factors (speed of response, time of day, day of week, month of year) had on the rate at which those leads were qualified based on a telephone needs analysis and BANT qualification.

The Real Value of Content Marketing for Industrial Companies

Industrial Marketing Today

These people won’t score very high if you rely only on conventional BANT (Budget, Authority, Need, Timeframe) criteria for scoring your leads from content marketing. The EPC company decides which vendor will supply the valves and level controllers that go on the fabricated system. In other words, your customer has little to no influence on the selection of the preferred vendor.

How to Establish a Meaningful Lead Definition

Pointclear

Are we a niche vendor, consultant, or service aggregator? Finally, the alphabet soup of lead qualifying criteria such as BANT and ANUM are not the solution to the problem. For most high dollar, strategic selling, BANT and ANUM disqualify companies based on the lack of timeframe and/or budget – a huge mistake that will allow more agile competitors to get in early, solidly position themselves while you are waiting around and too late to have any shot at competing.

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5 Ways to Make the Most of Your Demand Generation Efforts

PureB2B

Many Have Said it, and to Reiterate – Stop Looking for BANT Leads as a Silver Bullet. Outside vendors will be sending you prospects already on your radar, and if they are not, they most likely want to take a meeting just so they can price shop you for a better deal against their current company or competitors. There are many other ways to find better and more in market buyers than by executing a standard BANT style program.

Intent-Driven Campaigns: Challenges, Solutions and the Value of Context, Timing and Relevance

Strategic-IC

They're not necessarily looking at products and vendors and solutions at this point, because they don't necessarily know what they are. I was always taught, and when we were an agency, we were always instructed by our customers; when you generate leads, we want BANT qualified leads; Budget, Authority, Need and Timescale (or an equivalent of that). They've already made their decisions around the vendors.

B2B Marketing: 4 solutions to the most common challenges

B2B Lead Generation

Some figured a lead was anyone who filled out a form at a trade show; others had BANT (Budget, Authority, Needs and Timeline) criteria and specific demographic requirements. But, when you purchase lists, you want to find a vendor who looks beyond SIC codes and can create lists by keyword; the results will be more targeted to what you’re looking for.”. Tweet The week before Labor Day, hundreds of marketers descended upon Orlando, Fla., for MarketingSherpa’s B2B Summit 2012.

Frankenstein: the State of B2B Data

Capstone Insights

That’s a problem for software vendors AND the companies that use their software. Software Vendors. For vendors that make or support marketing, sales, or services technology this means: Everything is net new. If a person demonstrates BANT on two different offerings, does that count as one or two inquiries, etc.? EVERY single B2B company there currently is or will be) this means: Vendor driven. Each vendor has different data standards too.

A Frankenstein Made of Frankensteins: the State of B2B Data

Capstone Insights

That’s a problem for software vendors AND the companies that use their software. Software Vendors. For vendors that make or support marketing, sales, or services technology this means: Everything is net new. If a person demonstrates BANT on two different offerings, does that count as one or two inquiries, etc.? EVERY single B2B company there currently is or will be) this means: Vendor driven. Each vendor has different data standards too.

B2B Lead Nurturing Myths That Promote Sales Pipeline Leaks

Oracle

What someone needs when they are doing initial research to solve a problem is very different than the needs of their colleague who has already chosen the product category and honed down the potential vendor list. To assess the quality of the lead you need to know if he or she has the budget, authority to buy, need and when they expect to make a purchase decision (BANT criteria). “A small leak will sink a great ship.” ” — Benjamin Franklin.

Sales Objections: Face and Defuse

Belkins

Sales objections: It’s in the BANT. Most common objections in sales stem not from the prospects’ individual opinions about your product, but from a simple concept: Budget , Authority , Need , Time (or BANT).

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

Aberdeen HCM Essentials

The goal of the B2B buyer/researcher is to remain anonymous for as long as possible and do as much research as they can outside of a vendor website or even vendor branded content. Marketers often make assumptions and misplace value on MQLs.

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Trusting Your Partner is Critical in Your Strategic Prospecting Strategy

TrueInfluence

Conversations with B2B marketing and demand generation vendors often go something like this: “We have this thing we want to sell you.”. So why would you do business with a vendor who doesn’t commit to understanding your business’s unique goals and challenges? You need a partner, not a vendor. To begin executing this plan, you need more than just a vendor who can take a few demographic filters and plug them into its lead machine.

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How to Blow $100,000 on a Lead Generation Campaign

Pointclear

Before answering the question “What is a Lead” I will cover what I don’t think is a lead: A BANT qualified (or ANUM or any other formula) target: I still hear marketing and sales people talking about wanting BANT (budget, authority, need, timeframe) qualified leads. Process questions replace the budget and timeframe questions in the BANT criteria. The CMO of a Fortune 500 company offered the CRO the following options regarding spending $100,000 on a marketing campaign.

Opportunities to Deals: How to Improve Channel Partners Conversion

Computer Market Research

Vendors all face a similar conundrum when utilizing the channel—and that is—how to help channel partners conversion of opportunities into deals? But as a vendor, you must determine if everything in your power was done to ensure the success of your channel partner. Vendors that lack to give empathy or fail to provide a friendly on-site welcome to your organization are likely to devalue the relationship they’ve established with you.

Opportunities to Deals: How to Improve Channel Partners’ Conversion

Computer Market Research

Vendors all face a similar conundrum when utilizing the channel—and that is—how to help channel partners convert opportunities into deals? But as a vendor, you must determine if everything in your power was done to ensure the success of your channel partner. Vendors that lack to give empathy or fail to provide a friendly on-site welcome to your organization are likely to devalue the relationship they’ve established with you.

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

DealSignal

Expand your audience and move into new markets faster When you launch a new product or expand your target audience, your current data vendor may not have the coverage of the new personas or markets you want to target. A trustworthy data vendor will take care of the rest.

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

Belkins

How to decide on specifications Use a BANT approach to estimate the quality of your prospects. In the B2B world, 91% of buyers rely on word-of-mouth when looking for a good vendor, supplier, or partner.

Sales Qualification Isn’t an Event - It’s a Process

Pointclear

BANT Won’t Help. Changing B2B buyer behavior patterns mean that relying on the traditional BANT (Budget, Authority, Need and Timeframe) qualification approach isn’t going to improve the situation. Sales people need to be aware of—and must find ways of validating—whether the prospect has established an internal case for change, whether that case is urgent, how this project compares to other priorities , and whether the vendor is in prime position.

9 Marketing Words That Have Lost Their Meaning

Digital B2B Marketing

A best practice guide, vendor comparison, industry perspective and even a sell sheet have been lumped under the heading of whitepaper by many marketers. The following 9 terms are so overused or misused in B2B marketing that they have lost nearly all meaning. If you are using these terms today, it is time to stop and explain what you really mean. Otherwise, we may hear you, but we will think you mean something completely different.

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Software Buying Has Changed: Are You Ready?

The ROI Guy

Unfortunately Gartner says vendors are missing the mark, with 70% of buyers saying they want less pitch and more diagnostic and prescriptive advice. Quantify Business Value and ROI Second, the budget part of BANT is no longer a key qualification criteria, as today purchases are almost as likely to be unbudgeted vs. a designated line item.

SaaS Sales: The Ultimate Guide

Hubspot

SaaS is hosted, secured, and updated by an outside vendor. Salespeople often rely on IBM’s BANT system for identifying SQLs. BANT simply asks if your lead has the budget, authority, needs, and timeline to buy. SaaS Definition. SaaS stands for software as a service.

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Lead Nurturing Strategy: Why and When Do You Need One?

Belkins

Even though B2B buyers are a lot more independent in their choice of vendors and don’t need you to hold their hand, it doesn’t mean they don’t want you to be distant and not involved. BANT: Your prospect’s estimated Budget, their Authority in making a purchase, the Needs you can address, and the Time they are willing to invest in working with you. It helps you target an audience that is interested in just one service or looking for a vendor familiar with their region.