“It is okay to get kicked down, but when you get kicked down, make a deal with your economic buyer.” – David Weiss in today’s Tip 643
How do you make a deal with your economic buyer?
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today Outreach’s David Weiss is back to continue his 9 part series on MEDDPICC. Here he is:
David Weiss: Hello everyone out there in the Sales Success Community. This is a David Weiss coming at you with the second letter in MEDDPICC in my MEDDPICC series. And that is the Economic Buyer.
So a couple of things on economic buyer, you need to just test this person. So have you asked them when you’ve made decisions like this in the past? Who was involved? Are you going to be the person that’s going to sign it? Are you able to create a budget around this? Or how are we going to get this across the line? You know, do they have a title of a typical economic buyer in your space? So those are all things to kind of test it.
My tip is to start with the economic buyer. It is okay to get kicked down, but when you get kicked down, make a deal with your economic buyer. “Hey, look, I’m going to go gather lots of information. I’m going to do my best to build a business case. Can we agree that if I feel like you’re, this would help your business and there would be a business case for change? I can come back to you with my findings and we can work together on it.” I see a lot of people when they get kicked out and they just say, “Okay, thank you.” And then they go and say, “Hey, this person said I should work with you.” And then they get siloed and they struggled to go back up. But if you make that agreement, then you can go back up my easier.
The other tip and for folks that I’ll give Jamal Rhyme or credit for this, cause he talked about in the last summit, but folks who don’t know him or haven’t, don’t do these things, make sure you leverage the heck out of your own executives.
So when you want to get to an economic buyer, if you are struggling. So what I just mentioned is that the top-down way, here’s the bottom-up way. If you are struggling, you’re working with someone in a business and you either get siloed. You hit a ceiling, you can’t go around them, but you’ve gathered enough information that this really should help an organization make change. Go to one of your executives and ask for help from your CEO or your CFO or whoever aligns to who you think the economic buyer is at your customer and prep the heck out of them. Help them write the letter, give them everything they need, and then let them do that for you.
And then if your contact gets mad, you did the simple thing is, “Hey, I can’t control my CEO. Can you? I mean, I’m sorry. Like we were having a deal, an internal deal, debrief. The CEO said, I want to do this. And you know, I can’t tell my CEO now. And maybe it’s how you see it. Maybe it’s not, but people will understand that they can’t tell their executives now. So neither can you.” So that’s one way to kind of get unstuck and or work with the most senior person. The organization leverages your own executives when you’re stuck in the middle. So I hope that helps. And if I, as always, if I can help with anything, reach out. Thanks guys!
Scott Ingram: For more about David Weiss, who has contributed a ton to this community. Just click over to DailySales.Tips/643 and we’ll have a couple new resources for you there.
Then be sure you’re subscribed to the podcast so you don’t miss the rest of the series and come on back tomorrow for another great sales tip. Thanks for listening!