These are the four criteria that sales and marketing use to determine if a lead is a good fit for their product or service.
- Budget: the amount of money a prospect has available to spend on a solution.
- Authority: The decision-making power of the prospect. This includes understanding who is involved in the decision-making process and who has the authority to make the final decision.
- Need: The specific problem or pain point the prospect is experiencing, which the product or service can solve.
- Time: The urgency or timeline the prospect has in mind for finding a solution to their problem.
By assessing a prospect’s BANT criteria, sales and marketing teams can prioritize their efforts and focus on the leads most likely to convert into paying customers.