The Death of the Economic Buyer

There is no longer an economic buyer. Just as the power sponsor has been replaced by power sponsors (plural), there are now economic buyers (also plural).

Every stakeholder is responsible for a line on the profit and loss report, is being asked to make a greater financial contribution to their organization, and is being charged with managing their costs.

You have to be able to respond to concerns about price with answers about costs.

You have to be able to help translate the value you create to improved performance, and ultimately, to improved financial performance.

You have to be an educator, teaching your clients about the unseen soft costs that, while not possessing their own line on a profit and loss statement, wreak havoc on the bottom line.

And perhaps most importantly, you are going to have to be able to equip the economic buyers in your client’s organization to defend the investment that they are making in your solution.

The economic buyer is dead. Long live the economic buyers.

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Filed under: Building Consensus, Pricing, Sales 3.0, The Disruptive Age, Value

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