About the Guest David Weiss is the Head of Sales at LeaseUp. David helps sellers reach their full potential and hit their goals. In his spare time, he mentors sellers and early sales leaders and runs a podcast himself called PsychAndSales that is all about helping sellers with the mental resilience side of our profession. Contact David Weiss Key Takeaways MEDDPICC stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Paper Process, Implications of Pain, Champion, and Competition. Thoughts on some of the tools that are complementary to MEDDPICC. Highlights the stumbling blocks, the successful implementation, and the adoption of MEDDIC-generated strategies. Essential and foundational strategies to execute a successful MEDDPICC process. Quote “In order to build a business case for change, you have to have well-defined pain, problems, how to solve them, and a clear business case.” Highlights From the Episode What exactly is MEDDPICC? It’s not so much a sales process as an enterprise gap analysis process, incorporating the concept of champions – internal stakeholders who will essentially sell for you. MEDDPICC stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Paper Process, Implications of Pain, Champion, and Competition. It includes elements that go beyond other types of gap analysis or sales qualification processes. As a practitioner of MEDDPICC, what related tools do you find most effective? There’s a wide range, starting with simple sticky notes, which David believes are great communication facilitators. Other companies deploy Excel or build functions into their CRM of choice. Some organizations go a step further to purchase software that automatically takes notes that feed directly into and populate their database. What are some of the biggest issues encountered with MEDDPICC adoption? Gap analyses rely on foundational building blocks, starting with knowing which levers your business has historically pulled and mapped out on average what results pulling whichever lever will yield. MEDDPICC has a process for capturing those metrics and distilling them down to an executive summary that can be socialized and adopted internally. Do you have a process for engaging with the buyer? Is your solution relevant to them, and what does the conversation look like? If you don’t have a process, there will be gaps for which there’s no way to solve. About the anatomy of a MEDDPICC analysis. The starting point is identifying pain and decision criteria. What’s the problem, and how do we define resolution? After that, going into the demo phase, it becomes a question of mapping out the decision process, including internal stakeholders. At that point, MEDDPICC is differentiating itself from competitors and developing a team of internal champions – the people really leaning into the process. The next phase is centered on developing the scorecard, which is all about the decision criteria and then mapping it back to pain. Once alignment starts to emerge, the focus shifts to putting together the overarching business case and moving into the decision phase, bringing in legal and focusing more sharply on implementation. Recommended Reading/Resources David’s posts @LinkedIn. “MEDDICC: The Ultimate Guide to Staying One Step Ahead in the Complex Sale,” by Andy Whyte. Shout-Outs Mike Simmons – Owner at Just Start Real Estate Jeff Bajorek – Podcast Host at Rethink The Way You Sell Scott Ing – Founder & CEO at SalesTechEX
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