The Audible-Ready Sales Podcast Identifying the Economic Buyer
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Apr 18, 2023 Brian Walsh, a Senior Facilitator at Force Management, shares his expertise in identifying the Economic Buyer in complex B2B deals. He emphasizes that there's typically one key decision-maker and outlines traits like title and authority to look for. Walsh clarifies common misconceptions about budget holders and explains the distinction between influencers and the Economic Buyer. He also discusses how to prepare the Economic Buyer for gaining approvals and the importance of using MEDDICC effectively to engage them.
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One True Economic Decision Maker
- The Economic Buyer is the single person who decides whether to do a project and do it now.
- That person weighs use of money, time, and resources, not just who to buy from.
Listen For 'Why Now' Questions
- Look for people asking, 'Why should we do this and why now?' as signals of the Economic Buyer.
- Avoid focusing on the person asking only 'who should we buy from'; they are typically technical buyers.
Economic Buyers Step In And Out
- Economic Buyers often participate early to set direction then disappear during technical evaluations.
- They reappear later to validate the decision against business priorities.