MEDDIC , is the most renowned Sales Qualification Methodology, applicable to any Enterprise Sales Process which is rather complex. MEDDIC may be referred to as the MEDDIC CHECKLIST or even MEDDIC SALES PROCESS (imperfect).
Learn more about MEDDIC, with its variants MEDDICC and MEDDPICC here.
What does the acronym MEDDIC stand for?
Metrics: Quantification of the potential gain and ultimately the economic benefit
Economic Buyer: Interaction with the person who has decision control on the funds for the PO
Decision Process: Process defined by the company to reach the purchase decision
Decision Criteria: Criteria used by the company to make the purchase decision and choose among options
Identify Pain: Actual pains at the company which would require your product/service to be relieved
Champion: Powerful & influential persons at the company who are favorable to your solution
The level of knowledge, control, and progress of each of the above elements in a specific account provides the salesperson with a kind of CHECKLIST, easy to use and remember. The review of the MEDDIC CHECKLIST will result in an objective assessment of the level of qualification in the sales campaign and the degree of confidence in the sales forecast. The unchecked elements on the MEDDIC CHECKLIST will point the sales team to the right actions in the account, which will lead to closing that deal.
What Is MEDDPICC®?
MEDDPICC ®, a trademark owned by Darius Lahouitfard, the founder of MEDDIC Academy, is a course commercialized online and in person. It covers:
Metrics: Quantification of the potential gain and ultimately the economic benefit
Economic Buyer: Interaction with the person who has decision control on the funds for the PO
Decision Criteria: Criteria used by the company to make the purchase decision and choose among options
Decision Process: Process defined by the company to reach the purchase decision
Paper Process: Formal procurement process that the customer has defined internally for all suppliers to go through, including security review, legal, purchasing, etc.
Identify Pain: Actual pains at the company which would require your product/service to be relieved
Champion: Powerful & influential persons at the company who are favorable to your solution
Competition: The alternatives that the customer is considering alongside your solution, including another supplier, internal developments, or simply status quo (i.e., no-decision)
ROI : Return on Investment or Payback period – How to develop any metrics into a ROI pitch
Say No: Why, When, and How to say no
Champion Development: How to identify, develop and test champions
Objection Handling
The level of knowledge, control, and progress of each of the above elements in a specific account provides the salesperson with a CHECKLIST, easy to use and remember. The review of the MEDDPICC CHECKLIST will result in an objective assessment of the level of qualification in the sales campaign and the degree of confidence in the sales forecast. The unchecked elements on the MEDDPICC CHECKLIST will point the sales team to the right actions in the account, which will lead to closing that deal.
Who Created MEDDIC & MEDDPICC®?
No one single person. The methodology results from the best practices of the initial sales leaders at PTC, where MEDDIC took shape. That initial team of sales managers and VPs in the early 90s, composed of a dozen of trailblazers, are the true creators of MEDDIC. The company grew from 0 to $1B in sales, in 10 years under the leadership of Steve Walske, PTC’s CEO. (read his testimonial about MEDDIC here). Sales leaders of PTC played a key role in the creation of MEDDIC. Then training facilitators at PTC were asked to formalize the best practices, which they did. That said, key contributors to MEDDIC, all former PTC employees, are:
Darius Lahoutifard, one of those early sales leader at PTC, who founded MEDDIC Academy, the first online platform teaching MEDDIC and MEDDPICC and commercializing courses, accessible to all. He also authored the first book ever written, published, and sold on MEDDIC and MEDDPICC, an Amazon Bestseller. Before that, he was also the first to publish related slides on Slideshare and market his private training sessions on MEDDIC & MEDDPICC.
Dick Dunkel and Jack Napoli, as PTC employees (training facilitators during the 90s at PTC), formalized the initial programs and delivered MEDDIC training to many salespeople during the new hire onboarding (a simplified version of MEDDIC then).
Mike McGuiness, John McMahon, and several other early sales leaders and executives at PTC , (together with Darius Lahoutifard), who figured out the recipe and best practices with their quota-carrying sales teams, before asking operations to formalize these best practices into training.
Who owns exclusive rights?
MEDDPICC as a course and training services is a registered trademark owned by Darius Lahoutifard and his affiliated legal entities. All course contents are also registered at the US copyright office and protected by the US and international laws.
What’s the benefit of using the MEDDIC or MEDDPICC® ?
+ Monitors the level of qualification/progress of a deal
+ Self-assessment by each salesperson
+ Leads to the next sales activity during the sales campaign
+ No Discount needed to win a deal
+ Creates real pressure from the client side instead of trying to use your quarter-end as a compelling event in vain
+ Improves accuracy of sales forecasts
+ Increases revenue through sales efficiency thanks to better qualification
+ Reduces costs thanks to early disqualifications of the deals that are not winnable
+ Creates common language within the sales force
How Can We Implement the MEDDIC or MEDDPICC® Methodology Within Our Sales Force?
We train your sales force starting with as short as a half-day training & workshops, in-person or through state-of-the-art yet accessible distance learning methods. We also offer to coach your team through ongoing weekly sales meetings until MEDDIC becomes a habit. Finally, we offer a large spectrum of both modern and traditional tools and media to train your teams. Check them out here:
+ Learn the methodology through our famous self-paced eLearning: Online MEDDIC Courses.
+ Train your first-line sales managers to coach their teams and inspect deals under MEDDIC: here.
Copyright 2002-2023 - MEDDIC ACADEMY By 01consulting - Los Angeles, CA & Paris, France
MEDDPICC® is a registered trademark and should not be used without prior written permission from MEDDIC Academy.
"MEDDIC Academy" and "MEDDIC Certified" are trademarks belonging to MEDDIC Academy and should not be used without prior written permission from MEDDIC Academy.
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