The Freelancers' Show

TFS 345: Who is The Economic Buyer of Your Services?

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Synopsis

In this episode of The Freelancers Show, Erik Dietrich explains the term economic buyer and how it can affect freelancers and business owners. An economic buyer is the person within an organization who has the authority to purchase something. Knowing who your economic buyer is will affect how you market your product, for freelancers, this includes labor or services.  Starting with the most desirable, Erik lists the main types of buyers’ situations. The first is the autonomous buyer situation. A lone buyer makes the decision about purchasing a product. Erik shares the example of a manager taking the team out for lunch. They didn’t have to consult anyone and decided to do that on their own. The next situation and the second most desirable after the autonomous buyer situation is the buyer and research assistant/influencer. For this situation, Erik uses the example of the CIO or director of engineering choosing the new IDE for a new project. They may not care about the finer details or don’t have the technical