MEDMEN: 5 Things Not To Do When Engaging With the Economic Buyer

Engaging with the Economic Buyer is essential to your deal’s success, but there are some mistakes you could make that would turn it into an uphill battle. These are the five things you never want to do when engaging with the Economic Buyer:

Many salespeople have made the mistake of either assuming who the Economic Buyer is, or what they care about – and you know what happens when you assume. Having a Champion is the solution to this, as they can help you check your assumptions and turn them into qualified perspectives, so that you always go into Economic Buyer engagements with an informed POV.

You need to remember that, just like the name suggests, Economic Buyers care about the Economic Decision Criteria. They depend on their teams to know about the technical side of things. If you lead the engagement with technical Decision Criteria, you’re not speaking to their interests.

If you fail to prepare, prepare to fail. Doing your research and speaking to your Champion and other relevant stakeholders is hugely important before going into an Economic Buyer engagement. 

Sometimes you have to be creative when reaching the Economic Buyer, as for whatever reason stakeholders are trying to block you from engaging with them, but calling the Economic Buyer up without engaging with your Champion or having any back up is a huge mistake. Even if you do get early access, it’s better to spend time with them later on in the deal when you’re able to come to the table with a strong point of view, so that the time is worth it.

While going into customer engagements with an original point of view where you are able to push against the status quo and prove yourself to be an expert can be very successful, if you do that without first establishing any credibility, you will make a fool of yourself. If you’re going to challenge the Economic Buyer, you need to come from an informed place. 

There you have it: five things to avoid when engaging with the Economic Buyer.