And before you ask, this type of BANTing is very different from the dietary type. In fact, the more you follow these BANTing rules, the heavier your bank balance will tend to get.
I love being in the field with my sales team, and the old question of “do you think we have a sale”, comes up quite frequently after a sales call.
Inexperienced salespeople just starting out, will be sure that they have a sale after the initial meeting. When you ask them how they have come to that conclusion, they will expound on how keen the person was on the product and how it is just perfect.
Being a little older but not necessarily wiser, I will remind them of that old BANTing story and ask the following.
“Well Suzie, let’s test it”.
“B” stands for BUDGET, do they have the funds?
Usually, the Sales Person will say, I don’t know? I can’t ask them that!!
Well, perhaps you could frame the question a little softer. “Do you think it would be good value for money?” or Do you think it will generate a good ROI (Return on investment).
If the answer is yes you have ticked that box.
“A” stands for AUTHORITY. Does the person you are talking to, have the authority to buy, can they make the decision without referring to a higher authority. I teach that when making an appointment, ask if anyone else should be present so as to be able to make a decision.
“N” stands for does a NEED really exist for your product. After demonstrating the product ask whether the product will solve the problem.
“T” stands for TIMING. We overlook this one so often and yet it can really make a difference in determining the chances of a sale. If the problem has been around for a while and caused problems, the chances are that if the other three issues have been taken care of, you have a good chance of success. That is why if unsuccessful I always suggest that we give it a few weeks and then call back. What sometimes happens is that, because you have sensitised the client to the problem it begins to appear to manifest all the time. Like, if you are thinking of buying a particular car you seem to start seeing that particular car on the road all the time, that is if it is not a Ferrari.
Thanks for reading this blog, at Matrix Marketing, we are only interested in one thing, that you sell more!