A sales-qualified lead (SQL) is a prospective customer who has indicated through a series of actions that they have a high probability of converting, having expressed interest in a product or service and been vetted to meet specific criteria. The BANT framework can help streamline this process by evaluating factors such as budget, authority, need, and timeline. Qualifying leads saves companies time and resources by providing a better customer experience and increasing conversion rates. Tracking sales leads through each stage of the sales funnel helps calculate conversion rates and identify areas for improvement, ultimately informing strategies to re-engage potential customers and drive conversions.