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Summary:
The MEDDICC framework was originally developed by Jack Napoli and Dick Dunkel while they were at PTC (Parametric Technology Corporation) in the 1990s.
The MEDDICC sales process is a sales qualification methodology used to identify and qualify opportunities, ensuring that sales teams focus on high-potential deals and effectively manage the sales process. MEDDICC stands for:
- Metrics: Quantifiable measures that define the economic benefit of your solution. These are the key performance indicators (KPIs) that the prospect cares about and that your solution can impact.
- Economic Buyer: The person or group within the prospect’s organization who has the authority and budget to make the final purchasing decision. Identifying and engaging with this person early in the sales process is critical.
- Decision Criteria: The specific criteria or requirements that the prospect will use to evaluate and select a solution. Understanding these criteria helps tailor your pitch to meet the prospect’s needs.
- Decision Process: The steps that the prospect will take to make a buying decision, including the timeline, key decision-makers, and any formal processes or evaluations they will conduct.
- Identify Pain: The specific pain points or challenges that the prospect is experiencing, which your solution can address. Understanding the prospect’s pain helps to build a compelling case for why they should choose your solution.
- Champion: An internal advocate within the prospect’s organization who supports your solution and can influence the decision-making process. This person helps to navigate internal politics and push your deal forward.
- Competition: Awareness of the other solutions or vendors that the prospect is considering. Understanding the competitive landscape helps to position your solution more effectively and address potential objections. The most common “competition” is for the prospect to Do Nothing.
By following the MEDDICC process, sales teams can systematically qualify opportunities, align their sales efforts with the prospect's buying process, and increase their chances of closing deals.
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