There's No Such Thing as a "Data Buyer"
Why Most Vendors Misread the Room— and How to Actually Win Deals
Most data vendors lose deals before the first demo even ends. Not because the product is bad, but because they’re pitching to a fictional “data buyer” who doesn’t actually exist. The reality? There is no average buyer.
Yes, data companies often tailor their approach by fund type (hedge fund1 vs. long-only2) or by role (analyst vs. PM vs. trader). But that’s not enough. The real difference—the one that determines how data is evaluated, adopted, or dismissed—cuts across these lines.
In my experience, there are five. And each one makes decisions for completely different reasons. If you’re using the same sales playbook for a skeptical Data Sentinel and an insight seeking Signal Strategist, you’ve likely already lost.
This article breaks down the five personas that drive (or block) adoption in financial markets and shows how to tailor your pitch, your product, and your messaging to each. Skip the persona work, and you'll keep building for ghosts.
The personas are
The Data Sentinel
The Signal Strategist
The Data Alchemist
The Intuition Maverick
The Data Perfectionist
While buyers may share similar job titles or fund types, the two traits that really separate them are:
Technical ability to convert raw data to insights
Intrinsic trust of data: Initial level of trust in data’s relevance to the investment process.
Before we dive in…
Every one of these personas wants to generate alpha and demands trustworthy data. The difference isn’t whether they care—it’s how they evaluate, validate, and apply the data to their process.
These personas aren’t rigid boxes; they’re behavioral lenses that show up differently across firms, roles, and even over the arc of someone’s career.
Think of this framework not as a label, but as a shortcut to building trust and reducing friction.
Welcome to the Data Score newsletter, composed by DataChorus LLC. The newsletter is your go-to source for insights into the world of data-driven decision-making. Whether you're an insight seeker, a unique data company, a software-as-a-service provider, or an investor, this newsletter is for you. I'm Jason DeRise, a seasoned expert in the field of data-driven insights. I was at the forefront of pioneering new ways to generate actionable insights from alternative data. Before that, I successfully built a sell-side equity research franchise based on proprietary data and non-consensus insights. I’ve remained active in the intersection of data, technology, and financial insights. Through my extensive experience as a purchaser and creator of data, I have gained a unique perspective, which I am sharing through the newsletter.
Why read this article:
This article gives data vendors a practical playbook for improving go-to-market strategies by aligning with the real motivations and behaviors of financial data buyers. Misunderstandings and misfires in the sales process often stem not from product issues, but from a failure to tailor messaging, product framing, and onboarding to the specific type of buyer in the room.
Each persona outlined in this guide helps vendors:
Understand the outcomes that different buyers are trying to accomplish
Adjust communication and support models to build trust and accelerate adoption
Anticipate objections and design interactions that reduce friction in the buying process
It’s just as useful for data buyers. Knowing your own persona can help you:
Guide vendors more effectively through the due diligence process
Get the right information faster—without wasting cycles on irrelevant materials
Clarify your priorities and internal role in data evaluation and implementation
For each persona the article includes
The description of the persona
Their primary outcomes
What they see their own role as
What to do to help them
What to avoid
Signpost you are working with someone within the persona