Definition
A four-criteria framework for qualifying leads: Budget, Authority (decision maker), Need and Timeline (when they will act).
Detailed Explanation
BANT is an acronym representing the four key criteria for qualifying a prospect:
Budget: Does the prospect have the financial capacity to buy your solution? Questions to ask: "What budget have you planned for this project?" or "Have you invested in this type of solution before?"
Authority: Are you talking to someone who can make the purchase decision? Questions to ask: "Who else would be involved in this decision?" or "How are these types of decisions usually made at your company?"
Need: Does the prospect have a real problem you can solve? Questions to ask: "What is your biggest challenge right now?" or "What happens if you don't solve this problem?"
Timeline: When does the prospect plan to make a decision? Questions to ask: "Is there a deadline for this project?" or "When would you like to see results?"
A prospect who answers positively to all four criteria is considered "hot" and should be prioritized.
