Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

BANT - Is it Still Relevant?

1,183 views

Published on

This presentation discusses whether or not BANT is still a useful tool for B2B lead qualification as well as provides six tips for transitioning from BANT.

Published in: Business, News & Politics

BANT - Is it Still Relevant?

  1. 1. Is BANT Still Relevant? BANT: Is it Still a Useful Tool for B2B Lead Qualification? Christopher Ryan info@fusionmarketingpartners.com
  2. 2. BANT To refresh your memory, BANT stands for:
  3. 3. BANT To refresh your memory, BANT stands for: B - Budget
  4. 4. BANT To refresh your memory, BANT stands for: B - Budget A - Authority
  5. 5. BANT To refresh your memory, BANT stands for: B - Budget A - Authority N - Need
  6. 6. BANT To refresh your memory, BANT stands for: B - Budget A - Authority N - Need T - Timing
  7. 7. For some time these factors were considered the four criteria that best demonstrated whether an individual or company was a qualified lead and not just a raw inquirer or possible future prospect. BANT
  8. 8. In a push marketing environment, BANT is a very useful tool for ensuring that sales reps are working with qualified leads. Push Marketing
  9. 9. Drip Marketing Inquirers who are currently unqualified can be put back into the drip marketing pool.
  10. 10. Measuring Success BANT gives the marketing and sales departments a good way to measure their B2B lead generation success.
  11. 11. Measuring Success BANT gives the marketing and sales departments a good way to measure their B2B lead generation success. Since sales departments shouldn’t be dealing with, or even seeing raw inquiries, the amount and cost of qualified leads is typically a more important lead metric.
  12. 12. Why Drop BANT? One of the many reasons to drop BANT is because it assumes that you have a telephone conversation with the prospect.
  13. 13. Why Drop BANT? One of the many reasons to drop BANT is because it assumes that you have a telephone conversation with the prospect. In the age of online marketing, this is not always a valid assumption.
  14. 14. Why Drop BANT? For Example: You may collect many of your lead responses on a form that contains only the name and company email.
  15. 15. Why Drop BANT? For Example: You may collect many of your lead responses on a form that contains only the name and company email. You don’t collect the phone number and qualification data because you know that every additional piece of data you require will depress response.
  16. 16. Transition from BANT So how do you handle lead qualification in a world where BANT no longer fits?
  17. 17. Transition from BANT So how do you handle lead qualification in a world where BANT no longer fits? For some companies, this can be a fairly minor change – others may require a complete overhaul.
  18. 18. 6 Tips to Transition from BANT The following are six tips to help you transition from the BANT model.
  19. 19. 6 Tips to Transition from BANT 1. Adopt a pull marketing mentality –
  20. 20. 6 Tips to Transition from BANT 1. Adopt a pull marketing mentality – • Switch your focus from outbound to inbound, offer lots of good content, and let your prospects self- qualify.
  21. 21. 6 Tips to Transition from BANT 1. Adopt a pull marketing mentality – • Switch your focus from outbound to inbound, offer lots of good content, and let your prospects self- qualify. • This will require a much higher quantity of inquiries at the top, but will make the rest of the qualification process more efficient.
  22. 22. 6 Tips to Transition from BANT 1. Adopt a pull marketing mentality – • Switch your focus from outbound to inbound, offer lots of good content, and let your prospects self- qualify. • This will require a much higher quantity of inquiries at the top, but will make the rest of the qualification process more efficient. • Use pull marketing to dramatically reduce your cost per lead.
  23. 23. 6 Tips to Transition from BANT 2. Let your prospects percolate –
  24. 24. 6 Tips to Transition from BANT 2. Let your prospects percolate – • Don’t try to “push them” into buying something as soon as they respond.
  25. 25. 6 Tips to Transition from BANT 2. Let your prospects percolate – • Don’t try to “push them” into buying something as soon as they respond. • But rather let them come along at their own pace.
  26. 26. 6 Tips to Transition from BANT 3. Promote higher-level offers
  27. 27. 6 Tips to Transition from BANT 3. Promote higher-level offers • A higher-level (demo, free-trial, gift) offer is something that will entice a prospect to provide his or her phone number.
  28. 28. 6 Tips to Transition from BANT 3. Promote higher-level offers • A higher-level (demo, free-trial, gift) offer is something that will entice a prospect to provide his or her phone number. – A phone number which you can use to fully qualify the lead.
  29. 29. 6 Tips to Transition from BANT 4. Always provide options –
  30. 30. 6 Tips to Transition from BANT 4. Always provide options – • You can’t predict where a prospect is on the on the buying cycle.
  31. 31. 6 Tips to Transition from BANT 4. Always provide options – • You can’t predict where a prospect is on the on the buying cycle. • So provide multiple options, including lower-level offers requiring only an email address.
  32. 32. 6 Tips to Transition from BANT 4. Always provide options – • You can’t predict where a prospect is on the on the buying cycle. • So provide multiple options, including lower-level offers requiring only an email address. • And higher-level offers requiring a phone number and possible qualification questions.
  33. 33. 6 Tips to Transition from BANT 5. Make it easy to get in touch with you –
  34. 34. 6 Tips to Transition from BANT 5. Make it easy to get in touch with you – • In the pull marketing model, you have no idea when each prospect will be ready to engage with you.
  35. 35. 6 Tips to Transition from BANT 5. Make it easy to get in touch with you – • In the pull marketing model, you have no idea when each prospect will be ready to engage with you. • But when they are, make sure there is a convenient and easy way to facilitate the process.
  36. 36. 6 Tips to Transition from BANT 6. Conduct some research –
  37. 37. 6 Tips to Transition from BANT 6. Conduct some research – • If you are selling a high-ticket item, you can increase your lead qualification and close rates by:
  38. 38. 6 Tips to Transition from BANT 6. Conduct some research – • If you are selling a high-ticket item, you can increase your lead qualification and close rates by: o Learning about their company (via their website).
  39. 39. 6 Tips to Transition from BANT 6. Conduct some research – • If you are selling a high-ticket item, you can increase your lead qualification and close rates by: o Learning about their company (via their website). o And the individual (via LinkedIn) before contacting a prospect.
  40. 40. BANT: Drop or Keep These B2B lead qualification principles are valid whether or not you choose to switch from the BANT model.
  41. 41. Facebook LinkedIn Twitter Check Back! Check back in the coming weeks to learn more about B2B marketing and lead generation! Check out our free Lead Generation eBook. And connect with us socially: In the meantime…
  42. 42. About Fusion Marketing Partners Christopher Ryan, CEO We Do This: Brand building/messaging Website optimization Content creation Lead generation You Get This: Much greater levels of awareness Higher quantities of qualified leads Ability to generate faster revenue Lots more information at: http://FusionMarketingPartners.com/ http://Greatb2BMarketing.com (blog) info@fusionmarketingpartners.com 719-357-6280

×