You Need the BANT for Your Business

Through my sales journey at Simpl and my broadcasting background, I’ve learnt a basic acronym, BANT. Whether you apply this to your current work environment or your sideline hustle, I hope this can add some sort of value to you. It’s something small that makes a big difference in the way I see and treat a potential deal to either drive a successful close or to foster a nurturing and growing relationship over time.

I don’t see a prospect or a client as just another source of income. Yes, the goal is to make both businesses grow, and a sale is an exchange of value, but being transparent and building a trusting relationship with people with the same mindset as you over time is more important than the sale itself. Trust is the keyword here, and trust takes time.

Budget

Does your prospect have the budget to buy your product / service?

There’s no use in trying to sell a Ferrari to a cashier at your local supermarket (Unless they won the lottery). I know it’s a bit stereotypical, but what I’m trying to say is: Researching the prospect and the business to see if they can afford your service / product is key. In a nutshell, what does your ideal customer look like? You should know this off by heart.

Authority 

Does your prospect have the authority to make the decision to take the product or service?

If you’re trying to sell your product to the janitor, and you’re not selling cleaning products, you’re in the wrong place! Does the CEO make all the decisions? Or are there departments managed under the CEO that have their own budget and authoritative powers? Research is key yet again.

Need

Does the prospective client need your service or product?

Your prospect may not need your service or product right now, and that’s 100% understandable. The key here is to build a long-term relationship with that person or business, so that when something changes or the need arises, you are the name that comes to mind. First impressions are lasting, and relationship building is key. Be open, honest, flexible and transparent.

Time 

Is this the correct time to be tackling this service or need?

We’re all busy, whether it’s personal or work related. Sometimes the product or service is only addressed once there’s a problem. Alternatively, they are scheduled and reviewed on a planned basis. Fall into these plans and assist where needed.

I hope you took something away that you could apply to your own current situation you may find yourself in.

Cheers for now,
Ryan