Remember BANT, that old way to qualify deals where we find Budget, Authority, Need, and Timeline? Well guess what? It just doesn’t work anymore for SaaS sales. Here’s the reason why:
You’re asking for the money too early.
Seriously, you haven’t even built any value, your depending completely on brand awareness and your qualifying leads out when you’re not even sure if you’ve found the decision maker.
I’ve got something new for you to try that works for me. Authority, Need, Urgency, Money or ‘ANUM’. Let me explain why ANUM crushes BANT when it comes to working deals through the pipeline.
When creating a new product or establishing a new market It’s often that a budget isn’t cut out or created for your product yet. So there goes the ‘B’ in BANT, right out of your sales office’s window. Also, with today’s specialization of sales roles, it’s easier to split up who has what responsibilities. I believe it’s the SDR’s responsibility to find the authority (the ‘A’) and a piece of the need (the ‘N’). Identifying your ideal customer profile (ICP) can find you the authority in most cases. Also, identifying your ICP helps SDR’s focus on who they should prospect, which should ALWAYS be someone who is directly involved in the evaluation or buying process.
Finding a need.
I always tell our SDR’s, “find me one pain point or need.” There is two reasons for this:
- Building value – If you can find one pain point, talk to it, and let them know how our solution handles their pain it gets the wheels turning in their head. (This will also increase attendance rates for demos)
- Smooth handoff – You’ll know how smooth your hand off is when at the beginning of the next discussion the AE can say, “I spoke with SDR, they said your main pain point was sales reps not wanting to input data into the CRM, is that true?” or some other specifically identified pain point.
The other half of NEED and Urgency/Money
Okay, AE’s, this is our job. We have to uncover more than just the surface pain. We have to find out why it hurts and then poke at the bruise. Then, we have to use methods to find other pain points the prospect didn’t even know they have. When it comes to Urgency and Money, creating a timeline and selling past the sale is the key. Do you ask your champions, “How have you purchased software like this before?” or “What steps do we need to take to get this done”? If not, you should and then share your sales process and next steps with them. This will help you find where their process and yours align.
If you’ve done all of this, identified the proper buying authority, created and established a need, built value and created urgency, asking for the money should be no sweat. The key is to sell beyond the sale with a success plan. If your team is using trials or POC’s, work with your sponsor to find out what their definition of a successful trial will be. Document it. Agree upon it. Get verbal commitment on price. Then close it for good (until you resell, of course).
Trust me, ANUM works. Mostly because it follows a process that is in line with todays sales model that places most of the buying power with the prospect. BANT has all the ingredients for success, but they are aligned in the wrong order. Take BANT and turn it into ANTB….or just use letters that kind of make a word and live by ANUM!