Prospect Qualification: The basic principles never change
Prospecting tactics have evolved pretty quickly in the digital age. In less than a decade, we’ve gone from cold sales calls and unsolicited phone contacts to e-marketing and various inbound marketing techniques.
But some fundamental things haven’t changed in the world of B2B prospecting – and probably never will. The recipe for finding the best fit with potential customers is to align your products and services to their needs and wants. There are four big factors, sometimes known by the acronym “BANT”:
- Budget – What is my prospect willing to spend to purchase my product or service?
- Authority – Who needs to be involved in the purchase decision?
- Need – What conditions must exist for my product to be of value to my prospect?
- Timing – How soon will the buying decision be made?
Regardless of the MarComm approach you take or the tactics you choose, if you invest the time and effort to figure out answers to these four questions, it will lead you to better prospects, and your hit ratio will improve.