MEDDPICC Your Way To Sales Success: A Step-by-Step Guide | Selling Made Simple
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Learning about your customer, asking discovery questions , scoring leads… you already know the basics of sales qualification. You’re past that; you want more. You need an effective sales methodology—one that can help you find more qualified buyers, quicker. MEDDPICC can help you achieve just that. We’re talking 30% growth rates in saturated markets and 250%+ in start-ups. If you are struggling to qualify quality leads, try out the MEDDPICC sales methodology and set your organization up for success. What Does MEDDPICC Stand For? MEDDPICC stands for: Metrics, Economic buyer, Decision criteria, Decision process, Paper process, Identify pain, Champion, and Competition. Here’s a brief explanation of the MEDDPICC acronym: Metrics — What are the economic benefits of your solution? Economic buyer — Who makes the buying decisions? Which person has the ultimate authority? Decision criteria — What factors drive the purchase decision? Decision process — How are decisions being made in the company? Paper process — What process is being followed to keep the paperwork in order? Identify pain — What pain points you must resolve? Champion — Which person or end-user has a level of power, influence, and credibility? Competition — Who is your competition? Pretty cool right? Now, let’s dive deeper into the MEDDPICC sales process. What Is MEDDPICC Anyway? MEDDPICC is one of the most popular B2B enterprise sales qualification methodologies. It can help you identify high-quality prospects. It’s a checklist of the following: Information you need to know Tasks you need to do Relationships with people you need to nurture MEDDPICC vs. MEDDIC Despite having almost the same name, MEDDPICC and MEDDIC are (slightly) different from one another. MEDDPICC is a variation of MEDDIC, the original sales qualification methodology pioneered by Jack Napoli. MEDDIC helps sales representatives develop, qualify, and choose better prospects. In fact, following its guidelines helped Napoli triple PTC’s sales from $300 million to $1 billion in just four years. John McMahon updated this sales process later, changing it to MEDDPICC. In an interview with Sprinklr, McMahon explained his decision: “I changed it (MEDDIC) to MEDDPICC. I added a P for Paper Process, because if we don’t understand the paper process and associated timeline, then there is no way for us to accurately forecast the deal. An additional C was added for Competition, because when I was qualifying deals I was always surprised by reps that didn’t know who the competition was, who the competition’s champion was, or what the competition’s strategy was to win the deal.” To reiterate, MEDDIC is the original framework, while MEDDPICC is the enhanced version that’s expanded to take care of more nuanced needs. Why Should You Use MEDDPICC? The MEDDPICC sales process is a tried-and-tested strategy that helped many sales professionals around the globe achieve extraordinary results. You can use it to: Collect quantifiable and actionable high-quality data to improve forecast and overall results Review and remedy gaps in sales campaigns, shortening the overall sales cycle Help sales management focus on coaching rather than micromanaging MEDDPICC ensures you don’t overlook the more vital parts of the sales process while simultaneously standardizing your sales methodology, leading to consistently good results. The 8 Letters of MEDDPICC Framework: A Step-by-Step Guide Checking off every letter in MEDDPICC can seriously increase your ...
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