What is the Economic Buyer?
The economic buyer is the person who controls the budget and has ultimate financial authority to approve or reject a purchase. They may not be the end user or even attend demos, but nothing closes without their sign-off.
Why the Economic Buyer Matters
In MEDDIC methodology, identifying the economic buyer is the single most important qualification step. Deals that never reach the economic buyer have a close rate near zero. Yet 65% of lost deals cite "no access to economic buyer" as a contributing factor.
How to Identify the Economic Buyer
- Ask: "Who signs off on purchases of this size?"
- Ask: "Has this budget been allocated or does it need approval?"
- Research org charts and reporting structures
- Look for titles with "VP Finance," "CFO," "Head of Operations"
Common Mistakes
- Assuming the person you're talking to has budget authority
- Not asking about the procurement/approval process early
- Building your business case for the user, not the buyer
How FlowStrata Reaches Economic Buyers
FlowStrata's targeting includes economic buyer personas alongside end-user contacts, enabling multi-threaded outreach that reaches both the person who feels the pain and the person who controls the purse strings.