Don’t get Hung Up on Qualifying (pardon the pun)
Updated: Nov 1, 2020
B.A.N.T. is a method used to 'qualify' prospects (find out if strangers can buy from you)
· Budget - Can they afford it?
· Authority - Can this person ‘sign the contract’?
· Need - Do they need it or are they a student / professor / competitor just ‘fishing’ for information?
· Timing - Are they ready to buy?
Tread carefully. Some people don’t like to be ‘Qualified’.
Imagine you're at a party and someone talks to you for a few minutes then leaves. Later you realise they were only chatting, to see if you were 'useful' to them - how would you feel?
So let’s look at Qualifying form a different perspective…
Examples of why Qualifying is not as important as you may think
Budget…They can't afford it
But maybe next month/year they can
Next year your price decreases
Your large 'upfront fees' could drop to cheap monthly subscriptions
Reducing your price is a good strategy to get your ‘foot in the door’ of an industry you are trying to break into
Authority - only talking to the 'boss'
To Pitch to the Boss, it may be essential to Pitch to the 'assistant' first
You don’t know how much influence the assistant has
Asking “is there anyone else you work with to purchase?” is better than a confronting question like “Are you the decision maker?”
Saying you will only Pitch if the Decision Maker is there could be seen as ‘talking down’ to the assistant. Be careful. Be respectful
Timing. Funny thing about time - it's always changing
If you offer a solution and constantly follow-up, then you’re always Top of Mind. So timing becomes less important
This is the most important aspect of Qualifying. How badly do they need it? Have they budgeted for it? Are other departments / people involved in the decision process? Can you Present to them too?
And sometimes they will never tell you. Continuous promotion and follow-up solves this problem
Can you RE-FRAME their need?
Questions - Contact James to continue the discussion..