ThinkLogic
a telemarketing company in Singapore has been in the lead generation industry
for more than 10 years and we have spent a lot of time on the phone with
Marketing Managers and salespeople discussing marketing strategies that correlate
with sales objectives. One of the questions we always ask is for the
salesperson to define what they consider to be a qualified lead and one of the
most common answers we get is the definition of BANT (Budget, Authority, Need
and Timing)
Yet
the fact is that each organization has their own unique purchasing process and
those criteria will actually be irrelevant if followed adamantly. Buyers have
changed, but BANT hasn't. So some of the BANT criteria for your hottest leads
will most likely be missing. As this industry evolves, we need to start
redefining the meaning of quality leads and until we do, BANT will be one of
the reasons why lead conversion will remain a problem. In this article, we are
going to discuss everything you need to know about BANT and why it NEEDS a bit
of renovation.
The
Need for Dynamic Criteria
The
main difference between what worked in the past and what works now is how
dynamic the business environment has become. Change is inevitable. We need a qualified
lead criterion that can continually adapt in response to changing buyer situations
and behavior patterns. How? By shifting focus from budget and timeframes to buyers
needs, issues, pain points and level of
interest. Doesn’t that make a lot more sense? With these factors as key indicators for
qualified leads, you’re most likely going to see much better results in terms
of actual lead to sale conversions.
We
at ThinkLogic have designed a dynamic method that addresses the issues in BANT.
It enables salespeople to have a clearer picture of their prospects and allows
them to position themselves inline with what the buyers are looking for,
creating higher chances of actual sales. Get in touch with us today and learn
how we have helped several companies generate highly qualified leads with our Interest Based Lead Generation method.