BANT approach

Also known as: Budget, Authority, Need and Timing(BANT)

The BANT approach is a way to determine the quality of leads. More specifically, qualified leads can be distinguished from ordinary leads based on set criteria.

The BANT approach assumes the following factors:

• Budget: Is there budget available for the purchase?
  As long as there is no budget, a lead has no value. A possible question to find out is, "If our product can solve your need, are resources available for this?"
• Authority: Does the contact person have authority to make a decision?
  If the contact person does not have authority to make the purchase, investigate where that authority does lie. Work with the contact person to get the decision through.
• Need: Is there a need for the product or service?
  The (possible) motivation for the prospect to proceed to purchase is an important lead in communication and helps determine the priority to be given to a lead.
• Timeframe: In what time frame can a decision be expected?
  Is the prospect currently tied to another supplier? Is a decision dependent on other factors? Specifically, are there reasons why a decision will need to be made before a certain date?

Based on the answers to this question, it is possible to determine which leads can be expected to generate the most conversion in the short term, and to determine for each lead what action is necessary at what time. In carrying this out, a CRM system can be used.

An approach similar to BANT is MADA.