Qualified Lead (Sales Qualified Prospect)
A prospect that has been vetted and meets specific criteria indicating readiness for direct sales engagement.
Definition
A qualified lead is a potential customer who has demonstrated interest in your product and meets predetermined criteria for budget, authority, need, and timeline (BANT). These leads have higher conversion probability and warrant dedicated sales resources and personalized follow-up.
Qualification Criteria (BANT)
Budget
Prospect has allocated funds or ability to purchase
Authority
Contact can make or influence purchasing decisions
Need
Clear business problem that your solution addresses
Timeline
Defined timeframe for making a purchase decision
Example
CRM Software Lead: Marketing Director at 200-person company downloads pricing guide, attends webinar, requests demo. Company has $50K annual marketing budget, director has vendor selection authority, currently using spreadsheets (clear need), wants solution implemented by Q2 (timeline). This becomes a sales qualified lead.