Every salesperson wants hot leads that are easy to develop and easy to close. Many companies develop lead scoring formulas to identify leads as “hot” or “not” using the BANT (Budget, Authority, Need and Timeframe) model.
Potential customers accessing your corporate website may volunteer BANT information (like through a signup form), and reliable BANT typically emerges during conversations with the potential customer, after a salesperson has contacted them.
Yet while BANT is useful for opportunities already in the pipeline, vendors must be able to identify hot sales leads based upon 1) publicly available data about the prospect and 2) how well that data matches up to the experience and capability of the sales team.
With that in mind, nine criteria must be weighed when building a lead scoring formula: