Economic Buyer
Definition
Economic Buyer: The economic buyer is the person who controls or authorizes the budget for a purchase. They may not be the end user or even the primary evaluator, but their approval is required to finalize deals. Economic buyers care about ROI, risk, and strategic alignment more than features. In enterprise sales, identifying and accessing the economic buyer is essential.
Example Usage
“The marketing team loved our product, but we couldn't close until we got the CMO—the economic buyer—to approve the $80K budget.”
Common Misconceptions
Related Terms
Champion
A champion is an internal advocate within the prospect organization who actively supports and promotes your solution. Champions have personal motivati...
Buying Committee
A buying committee is the group of stakeholders involved in evaluating and approving a purchase decision. In B2B sales, deals rarely involve just one...
Decision Maker
A decision maker is someone with authority to approve and finalize a purchase decision. In small companies, this might be the CEO; in large enterprise...
Enterprise Sales
Enterprise sales involves selling to large organizations with deal sizes typically exceeding $100K annually. These sales feature long cycles, multiple...
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