Most companies outsource for their lead generation and demand generation services for a variety of reasons. Some include:
But the sad truth is, most companies out there that provide lead/demand generation services are using a qualification criteria used 30yrs ago as a good idea. It's called BANT. And if you have not heard of BANT, then expect to get duped by these firms.
BANT stands for Budget, Authority, Need, Timeframe.
Sounds great right? Intelligent?
WRONG! If a firm is utilizing this "technique" as a way to provide a qualified lead to you, then my suggestion is RUN and don't look back.
WHY? It's all secondary and all they are uncovering is a profile that fits your target market. Most companies know their target market using this same criteria.
Ex: Your target market is a company that has annual sales of $1B or more. In the Food & Beverage industry. Your target market audience are C level and VPs. Their needs are what your solution provides in common challenges and their budget is obviously being able to afford your solution. YOU ALREADY KNOW THIS! So why would a company send you a "lead" and that being qualified?
It is much deeper than that and anyone who doesn't know supply chain will provide the BANT theory as a true qualified lead. If that is the case, then you are chasing everything under the sun because ALL companies have needs that will fit some kind of space.
Do you want a qualified lead conversation to go like this?
BANT FIRM: "Mr. Decision Maker, Do you have this need?
DM: "Yes we do"
BANT FIRM: "Excellent. Can you verify your information and if this was a need that could be fix, what sort of timeframe would you like to see it happen?"
DM; Verifies info and give sample timeframe. Even though there has yet to be a qualification. Or interest in actual need.
BANT FIRM: "Excellent. If I could have someone contact you or send you addition information, would this be of interest?."
DM: "Sure, why not."
Send off the qualified lead to your team to chase.
BANT is not a qualified lead nor qualified lead criteria.
Test the firms you speak with. Do they know the supply chain language? Do you want "appointment setters" to represent your company? Or a firm that know and lives supply chain?
Don't be fooled into BANT, criteria and fluff. Ask the hard questions. Test their knowledge on the phone and if they have to get back to you (to Google and see what the heck you are talking about), RUN RUN RUN!
Dan Marx is a leading expert in both supply chain & business development. Inspiring future leaders & entrepreneurs through life stories & experiences with workshops, events, thought leadership guests spots and more.