Value Selling

Economic Buyer

The person with budget authority who makes the final purchasing decision.

The economic buyer is the person who can say "yes" when everyone else has said "no." Identifying and engaging this stakeholder correctly is often the difference between winning and losing enterprise deals.

Characteristics of an Economic Buyer

Authority:

  • Controls or can access the budget
  • Can approve expenditures at the deal size
  • Has decision-making power without higher approval

Focus:

  • Thinks in terms of business outcomes, not features
  • Evaluates investments against alternatives
  • Concerned with risk, return, and strategic alignment

Behavior:

  • Often enters the process late
  • May delegate evaluation to others
  • Makes final decision based on summarized information

Economic Buyer vs. Other Buying Roles

RoleFocusAuthority
Economic BuyerROI, business impactFinal approval
User BuyerDay-to-day usabilityInfluence, not decision
Technical BuyerIntegration, securityCan veto, can't approve
ChampionInternal advocacyInfluence and access
CoachProvides informationNo authority

Finding the Economic Buyer

Ask these discovery questions:

  • "Who has final sign-off on investments of this size?"
  • "What's your approval process for new technology?"
  • "Who else needs to be involved in this decision?"
  • "Have you purchased solutions at this price point before? Who approved it?"

Warning signs you haven't found them:

  • Contact can't describe the approval process
  • "I need to run this by my boss"
  • No access to budget information
  • Unwillingness to discuss timelines

Engaging the Economic Buyer

What They Care About

  • Business impact and ROI
  • Risk mitigation
  • Strategic alignment
  • Competitive advantage
  • Time to value

What They Don't Care About

  • Technical specifications
  • Feature comparisons
  • Implementation details
  • Training requirements

Communication Approach

  • Lead with outcomes, not capabilities
  • Quantify everything possible
  • Provide executive summaries
  • Respect their time constraints
  • Connect to their strategic priorities

The Economic Buyer Meeting

When you get time with the economic buyer:

  1. Open with their priorities (not your agenda)
  2. Present business case in their language
  3. Address risks proactively
  4. Ask for their concerns directly
  5. Confirm next steps and timeline

Common Mistakes

  1. Selling features: They don't care how it works
  2. Bringing technical experts: Wrong conversation
  3. Too much detail: They want the summary
  4. Avoiding price: They expect to discuss investment
  5. No clear ask: Always have a specific next step

Related Terms

MEDDIC

A B2B sales qualification framework: Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, Champion. Used to qualify opportunities and forecast accurately.

Business Case

A documented justification for undertaking a project or initiative, typically including financial analysis, risk assessment, and expected outcomes.

Value Proposition

A clear statement that explains how a product or service solves customer problems, delivers benefits, and why customers should choose it over competitors.

ROI Model

A structured financial framework that calculates expected returns by mapping solution capabilities to business outcomes and quantifying their impact.

Learn More

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