The M.E.D.D.I.C methodology
MEDDIC is the gold standard for world class sales professionals and leaders.
It is an extremely simple, yet comprehensive, qualifying tool to rapidly get to the bottom line and uncover gaps. It is also extremely flexible with its tailored approach for sales leaders.
If MEDDIC is implemented, it requires some support from other departments within your organization. Because a key element of MEDDIC is the economic benefit of your solution for your customer, it requires engagement from marketing, product management and even presales to identify and describe this economic benefit.
The Economic Benefit (= VALUE) of your Solution
You should be able to describe an economic benefit in real savings, which you can use in a ROI calculation.
Values like "more transparency", "process cost reduction", "easy-to-implement" or "shorter lead-time" are soft benefits and not well suited for ROI calculation. Instead work with your existing clients as examples of the proven bottom line savings that are generated with the use of your solution. If you don't have sufficient proof points, with existing customers, these can be identified using market based proof for similar solutions.
What is the meaning of "M.E.D.D.I.C."?
MEDDIC represents a checklist, which is applicable to any complex Enterprise Sales Process.
MEDDIC is an acronym for the 6 elements of the checklist process, as described below:
METRICS
Measure the potential gain leading to the economic benefit of your solution vs. competition.
ECONOMIC BUYER
Identify and meet the person who has the final word in releasing funds to make a purchase.
DECISION PROCESS
Know and influence the process as defined by the client to make purchase decisions.
DECISION CRITERIA
Know and influence the criteria as defined by the client to make purchase decisions.
IDENTIFY PAIN
Identify and analyze the pains that should be relieved by your solution.
CHAMPION
Identify, qualify, develop and test your champion within your client. This is the person who sells inside the account on your behalf.
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