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Who is the Economic Buyer? | MEDDIC | MEDDICC
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2. Define ‘Quid Pro Quo’ Delivery Gates “Most salespeople build relationships by educating their prospects. Sometimes with such immense effort, time and resources only to eventually get stuck in a place without any real next steps defined.” The greatest sales reps always think ‘quid pro quo’ (latin for ‘this for that’) and are not afraid to ask for what they need in return to further their sales process. For example, if you’ve got a labor-intensive trial period, you can make it a requirement to first meet with the Economic Buyer (and get his/her sponsorship) before proceeding with the trial.
1. Build a Preliminary Business Case “While this might sound sophisticated, it is nothing more than a few quantifiable benefits you have discovered together with your Champion such as savings, productivity gains, revenue increase, etc. that your solution will bring.” 2. Define ‘Quid Pro Quo’ Delivery Gates
Many sales people feel really uncomfortable requesting for such a meeting because they are afraid of getting a “NO” and putting the client off. “Trading in a “small” commitment such as organizing a meeting with the Economic Buyer to get a trial in return will be a no brainer if your Champion believes he can solve the pain with you.” 3. Use your own executives
“Is it reasonable to plan closing this business by XX.XX?” “If we both come to an agreement, is there anybody else that formally or informally needs to be involved in the approval of this project/purchase?” “Would you be open to governing the decision process?” “If we get stuck along the way may we get back to you?”