Many companies are using the BANT criteria — Budget, Authority, Need and Timeframe — to qualify leads. There’s nothing wrong with that, however, this approach might lend itself to asking ambiguous questions, and tracking in a discrete way. For example, does this prospect have authority? Well, it’s not quite so black and white. What do you mean by authority? Are they the sole decision makers? Are they one of many decision makers? You need to define authority, and provide proper tracking that resonates with the realities of that authority.
Without being specific and clear in what you’re seeking and tracking, you’ll have a low acceptance rate from BDRs as a result of poor lead quality.
It’s time to get specific in your qualification criteria.
Use a graded approach with weighted tracking
A graded approach with weighted tracking will result in a high sales acceptance rate, because there’s clarification on the definition of a qualified lead.
Clarity puts us in a position of continuous improvement, because now BDRs know exactly why the prospect has authority.
Establish a weighted grading criteria using a weighting between 0 and 4.
0 = No authority and no direct access to decision makers
1 = No authority but has access to decision makers
2 = Has influence and access to decision makers
3 = One of several decision makers
4 = Complete authority as a sole decision maker
Now when a sales rep receives a qualified lead, they clearly know if the prospect has authority, and at what level. The question of authority is no longer a yes or no question.
Apply this same scale to BANT
Now that we’ve covered Authority, use this same scale to determine their level of Budget, Need, and Timeframe.
The weighting of these four criteria creates a total qualification score between 0 and 16, and you can score the level of total qualification. You can then determine the threshold, for instance, eight might be too low, and it must hit 10 or higher to go to a BDR. Play with these numbers and collect feedback in the qualification process.
This is how you address ambiguous criteria with discreet tracking.
Watch this webinar for even more insights on obtaining qualified leads at a higher volume.
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