The MedMen Show: Fast, Smart Insights for B2B Sales Professionals

Economic Buyers in Sales: Everything You’re Getting Wrong

Oct 6, 2023

In this episode, the Med Men discuss the misconceptions with the Economic Buyer, the risks of over-qualifying and assuming their static nature. They emphasize the importance of qualifying stakeholders and engaging with the right decision-makers. They also explore the criteria for identifying an Economic Buyer and their concerns, as well as the mistake of assuming the same Economic Buyer for different business lines.

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Introduction

00:00 • 3min

The Importance of Qualifying Stakeholders and Engaging with Economic Buyers

02:31 • 2min

Identifying an Economic Buyer and Their Concerns

04:15 • 2min

Understanding the Mistake of Assuming the Economic Buyer is the Same for Different Business Lines

05:47 • 2min

Attention to detail is needed when dealing with the Economic Buyer. You don’t want to under-qualify them, but over-qualifying them can do equal damage! In this episode, the Med Men take a close look at what people typically get wrong with the Economic Buyer.

Andy and Pim talk about the need to accept change - that as circumstances and deals change, so will the Economic Buyer. But, if you keep your wits about you, you can still find success with the Economic Buyer.

If you have any questions about identifying or engaging with the Economic Buyer, or any suggestions of what you’d like to see the Med Men cover next, make sure to comment below!

Until next time - cheers!

The MedMen Show is a MEDDICC MEDIA production, where CEO Andy Whyte and CRO Pim Roelofsen dive into aspects of the MEDDIC framework, and look good doing it.

*Who are Pim Roelofsen and Andy Whyte?*

*Pim Roelofsen* Born and raised in the Netherlands, Pim lived in the Dutch Caribbean and London, before making the move back home. Having been involved in tech sales for 10 years, Pim is passionate about MEDDICC and is a big believer that more organizations should adopt the qualification framework for sales and beyond. Pim empowers sales organizations across the globe to implement the tried and tested framework as MEDDICC CRO.

*Andy Whyte* The founder of MEDDICC™ and the author of the five-star rated “MEDDICC’ book, it’s no surprise that Andy has an impressive sales career spanning over 18 years. Andy first started out as a door-to-door, double-glazing salesman where he quickly built up an appetite for sales, hungry for more, he started his B2B career as an SDR, progressing through the ranks to eventually lead the EMEA at Branch before moving on to set up MEDDICC™. Andy used MEDDIC in multiple companies as an individual contributor and sales leader and even implemented MEDDPICC into two SaaS organizations. Known for his mantra “Nobody ever regrets qualifying out” and his passion for the science and art of sales. Away from the day-to-day, Andy practices many skills as a chef, sports coach, taxi, and cleaner in his most important role to date - DAD.