BANT (BANT Conditions) is an initiative that analyzes the sales activities of companies and helps them achieve results efficiently, and more and more companies are using it in recent years.
BANT (BANT conditions) consists of four simple and basic items, but there are tricks to linking them to results.
This time, with the theme of BANT (BANT conditions), we will explain the points to use in sales activities.
What is BANT (BANT condition)?
BANT (BANT conditions) refers to four conditions for selecting and narrowing down projects that are likely to lead to results in sales activities from the information data collected by companies.
Four conditions that make up BANT (BANT conditions)
There are four conditions that make up BANT (BANT conditions):
1) Budget
2) Authority
3) Needs
4) Timeframe (introduction period)
Why BANT (BANT conditions) is attracting attention
<br/> An important part of sales is confirming the client’s prospects, but relying only on the salesperson’s intuition will not improve the accuracy of closing a deal.
A major reason why BANT (BANT conditions) is attracting attention is that it serves as a standard for concretely determining the likelihood.
The four conditions of BANT (BANT conditions) are directly related to closing the deal, and even if any of the conditions are missing, the deal will not close.
Relationship between BANT (BANT conditions) and contract completion
Even if a salesperson makes a presentation to a user with decision-making authority and is able to confirm their needs, if they cannot consider them in the annual budget, the chances of closing a deal this term will be low.
In addition, even if the person in charge at the target company feels the need to introduce a product or service as a solution to a problem and can confirm the budget that can be introduced at the presentation stage, it is difficult to obtain approval from a senior person with decision-making authority. If you don’t get that, you won’t be able to close the deal.
Even if the person in charge personally feels the need for a product or service, if there is no need for the company to introduce it, a deal will not be concluded.
Furthermore, in BtoB sales, the timing of introduction is also an important point.
Companies need to check the likelihood of closing a contract based on the four conditions of BANT (BANT conditions): budget, approval authority, needs, and implementation timing.
How to use BANT (BANT conditions) for BtoB sales activities
The basic concept needed to link BANT (BANT conditions) to corporate performance is the recognition that “BANT (BANT conditions) is not desk data, but real information that is used in the sales field.”
If you take the wrong basic direction when deciding on sales strategy and management decisions, the use of BANT (BANT conditions) will be unlikely to lead to results.
Specifically, BANT (BANT conditions) uses not only “indirect company information” that the marketing department can collect from data banks or visits to owned sites, but also information that salespeople can collect from target companies. It is important to gather information through direct interviews with the target company’s personnel and managers, such as by visiting companies or attending company seminars.
Key points when hearing BANT (BANT conditions)
When conducting interviews with BANT (BANT conditions) in mind, there are some points that salespeople and others must keep in mind.
1) Budget
The most important thing in a BtoB business negotiation is checking the budget.
Companies set their annual budgets, so whether or not they can secure the budget for the introduction of the products and services they propose this fiscal year is an important point in determining the likelihood of closing a deal.
If you are unable to secure a budget for this period, it is also important to ask when the budget is expected to be secured.
2) Authority
In most BtoB businesses, a deal is concluded after multiple people review and approve the process.
The process for closing a contract varies depending on the company and the implementation details.
Even if the person in charge is the point of contact, there may be someone else who has the authority to make decisions.
During the hearing, it is necessary to confirm the process by which decisions are made, and it is best to make a presentation directly to the person who has the authority to make decisions.
3) Needs
The basic premise of BANT (BANT conditions) is that the needs are what is needed to solve the company’s issues and problems.
If the salesperson’s proposal does not match the company’s needs, the proposal will not be able to proceed to the next step.
It is necessary to clearly understand the company’s needs through interviews.
Furthermore, even if you feel that the salesperson’s proposal meets the needs of the person you are interviewing, make sure to confirm that the needs are not just your personal opinion, but the company’s needs that will lead to implementation and closing the deal.
If the person you are interviewing empathizes with your needs based solely on generalizations or personal opinions, it will not lead to business.
4) Timeframe (introduction period)
In order for sales representatives to understand the implementation timing, they need to hear about the specific schedule of the introduction process for products and services, which differ from company to company.
For example, if the following processes are confirmed, we will ask about the timing.
- Practical personnel gather information on products and services and create implementation plans as solutions to issues and problems faced by companies.
- The person in charge will explain the implementation plan to senior management.
- Senior management obtains approval for implementation from the general manager’s meeting and management.
- After approval, the product will be put into practical use after a trial period.
Effective results can be expected if sales representatives carry out sales activities keeping in mind each company’s implementation process schedule.
SFA that takes advantage of BANT (BANT conditions)
Even if the valuable BANT (BANT conditions) gathered through interviews are kept only within the sales staff or team, it will be difficult to efficiently translate them into results.
BANT (BANT conditions) must be converted into data, stored within the company, and utilized for effective sales activities.
SFA is the best tool for converting BANT (BANT conditions) into data.
SFA is an acronym for “Sales Force Automation,” and it refers to everything a company has that can be utilized for sales, from indirect company information to BANT (BANT conditions) information collected by sales personnel. This is a tool that can accumulate and analyze data as data.
By adopting SFA, the possibility of effectively utilizing BANT (BANT conditions) in BtoB sales activities increases.
Importance of SFA
If the person in charge changes or time passes, there is a high possibility that BANT (BANT conditions) will be lost and sales opportunities will be lost. You may also have to start from scratch and repeat the same sales process over and over again.
It is desirable to adopt SFA to accumulate BANT (BANT conditions) data, analyze it, select projects, and use it for sales.
summary
◆BANT (BANT conditions) refers to four conditions for selecting and narrowing down projects that are likely to lead to results in sales activities from the information data that companies have collected.
◆There are four conditions that make up BANT (BANT conditions): Budget, Authority, Needs, and Timeframe.
◆The four conditions of BANT (BANT conditions) are directly related to closing the deal, and even if any of the conditions are missing, it will not lead to closing the deal.
◆By adopting SFA, the possibility of effectively utilizing BANT (BANT conditions) in BtoB sales activities increases.