Sales role
Economic buyer
The economic buyer is the person with the authority to approve the budget and give final sign-off on a purchase, regardless of who else is involved in the evaluation.
In short
- The economic buyer is the person with the authority to approve the budget and give final sign-off on a purchase, regardless of who else is involved in the evaluation.
What an economic buyer is
The economic buyer is the individual who can say yes to the spend. They control or authorize the budget and have the power to approve a deal, even when many others are involved in researching and recommending. In MEDDIC, the E stands for exactly this person.
Reaching the economic buyer is one of the strongest signals a deal is real. Opportunities that never get access to the economic buyer are a leading cause of deals stalling late in the cycle.
How reps find and reach them
The economic buyer is not always the person a rep talks to first. Reps often work with users and a champion, then ask to be introduced to the person who controls the budget. A useful test question is who, besides you, needs to approve this, and who can approve it if everyone else says yes.
Selling to the economic buyer means leading with business value and outcomes, not features. This is where value selling and a quantified business case matter most, because the economic buyer evaluates return rather than functionality.
Frequently asked
What is an economic buyer?
- The economic buyer is the person with the authority to approve the budget and give final sign-off on a purchase, regardless of who else is involved in evaluating the solution.
What is the difference between an economic buyer and a champion?
- The economic buyer controls the budget and gives final approval, while a champion is an internal advocate who sells the solution to others. A champion often helps the rep reach the economic buyer.
How do you identify the economic buyer?
- Ask who, besides the people in the room, needs to approve the purchase and who controls the budget. Working with a champion to get introduced to that person is a reliable way to confirm and reach the economic buyer.