Sales are often seen as a numbers game. The more prospects a seller meets, the more deals they’ll close.
This is at least partially true. If a seller isn’t meeting with prospects, they are most assuredly not closing any deals.
But it’s critical to ensure sellers are meeting with the right prospects. After all, if they spend time with leads that will never convert, they’re wasting their time and can never expect to achieve quota.
The MEDDIC sales methodology helps sellers weed out unqualified prospects and focus on those who are a good fit. As a bonus, sellers can use the insights they gain from using MEDDIC to deliver tailored guidance, solutions, and experiences that resonate with every buyer.
In this blog, we’ll explore the MEDDIC sales methodology and how it differs from two related sales methodologies: MEDDICC and MEDDPICC. We’ll also take a closer look at some of its key benefits and how to determine if it’s the right fit for your organization.
What is the MEDDIC sales methodology?
Let’s face it: while some prospects are promising, others are duds. Any B2B seller can confirm this is true.
The MEDDIC sales methodology helps sellers determine which is which.
But what is the MEDDIC sales methodology?
MEDDIC, defined
The MEDDIC sales methodology is a widely used lead qualification framework that helps sellers identify high-quality prospects. This allows sellers to invest their time in the most valuable opportunities.
The components of the MEDDIC sales methodology
MEDDIC is an acronym that stands for:
M: Metrics: It’s important to understand what success looks like for your prospect. In other words, what quantifiable goals are they hoping to achieve by investing in a new solution? And how will they measure their progress towards those goals?
By understanding the metrics that matter to a prospect, you can better align your solution to their needs.
E: Economic buyer: Sellers must identify who has (and doesn’t have) the authority and budget to make a purchase decision. In other words, who will sign the contract or the check?
That way, sellers can focus on influencing the right people rather than spending time with folks with no say.
That’s not to say you should disregard someone who doesn’t have purchasing authority. Gatekeepers may have valuable insights and influence the purchase decision. We’ll discuss that more when we get to the “C” in MEDDIC.
D: Decision criteria
These are the different factors a prospective customer will consider when weighing their options and choosing a solution. Every prospect will have different decision criteria, but some common factors include:
- ROI
- Ease of use
- Integrations with existing technology
- Implementation timing
- Ongoing support
- Price
When a seller understands a buyer’s decision criteria, they can better tailor their messaging to address those factors.
D: Decision process: These are the steps the prospect will go through when deciding whether or not to purchase your solution. For example, you can get insight into:
- Timeline
- Who will be involved in the decision-making process
- What processes need to happen (for example, formal RFP process) to strike a deal
I: Identify pain: Sellers must determine their prospects’ challenges and pain points. For example, one prospect may struggle with seller productivity, and another may struggle to deliver personalized marketing campaigns at scale.
Once a seller clearly understands a prospect’s pain points, they can determine if they have a solution to those pain points. If the seller doesn’t have a solution, pursuing the prospect doesn’t make sense. If the seller does have a solution, they can use the insights they’ve uncovered to shape how they position their solution.
C: Champion: A champion has no final say in purchasing decisions. But if you earn their trust and demonstrate value, they may be willing to advocate for your business and your solution.
For example, a champion might connect you with the person who has the authority to make a purchase decision. Or, they might help you get buy-in from a tough member of the purchasing committee.
A champion is a crucial partner who can help you move the deal forward and eventually to the finish line. It’s important to identify them early on.
The origin of MEDDIC
The MEDDIC sales methodology was developed in the 1990s by executives at a software company then called Parametric Technology Corporation (PTC). MEDDIC was created to help PTC sellers navigate complex B2B sales. And it worked. After adopting MEDDIC, PTC increased their sales from $100 million to $1 billion in just four years.
Since then, MEDDIC has been widely adopted by many B2B sales teams. It’s especially prevalent on enterprise sales teams, where complex deals are more common.
How MEDDIC differs from other sales methodologies
Of course, MEDDIC isn’t the only sales methodology. Many other commonly used frameworks exist, including Challenger, BANT (Budget, Authority, Need, and Timeline), and solution selling.
MEDDIC is unique from other frameworks in that it’s more in-depth and focuses on truly understanding the customer’s decision process and how a solution fits their unique needs and pain points. MEDDIC requires sellers to ask more questions and spend more time with prospects to understand their internal processes and what keeps them up at night.
Because it’s so in-depth, the MEDDIC sales methodology is typically a good choice for sales teams that sell complex products, face longer deal cycles, and sell to enterprise-level customers who may need more customization than smaller organizations.
MEDDIC vs. MEDDICC vs. MEDDPICC: What’s the difference?
You may have encountered some other sales methodologies that sound a lot like MEDDIC: MEDDICC and MEDDPICC. All three are commonly used in B2B sales, but they’re not the same thing.
MEDDIC, MEDDICC, and MEDDPICC are all based on the same framework. You can think of MEDDICC and MEDDPCC as expansions of the MEDDIC framework.
What is MEDDICC?
MEDDICC takes the MEDDIC methodology and adds one additional factor: competition.
- Metrics
- Economic buyer
- Decision criteria
- Decision process
- Identify pain
- Champion
- Competition
MEDDICC is a good option when competitors in the market offer similar products and services. By understanding the competition, sellers can more effectively position their solution as the better choice.
What is MEDDPICC?
MEDDPICC expands MEDDICC even further to another factor: paper process.
- Metrics
- Economic buyer
- Decision criteria
- Decision process
- Paper process
- Identify pain
- Champion
- Competition
“Paper process” refers to any paperwork and processes that must be completed for the deal to move forward. Some examples of paper processes include legal review of contracts and procurement processes.
MEDDPICC is an effective sales methodology for getting more details about the purchase process. Sellers can use this intel to anticipate the next steps and tailor their approach.
MEDDIC | MEDDICC | MEDDIPICC | |
---|---|---|---|
Stands for |
|
|
|
Purpose | Qualify leads, manage complex deals, and gather valuable insights to shape the sales strategy and increase the likelihood of closing a deal. | Expand upon MEDDIC to identify and address competition a prospect may be considering. | Expand upon MEDDIC and MEDDICC to explore more details about the processes that need to happen behind the scenes in order for a deal to go through. |
When to use | When you need a framework for qualifying complex B2B deals. | For qualifying leads when there are similar competitive offerings. | For managing especially complex deals that involve a lot of internal processes and paperwork. |
Top benefits of the MEDDIC sales methodology
We now understand the MEDDIC sales methodology and how it differs from its cousins, MEDDICC and MEDDPICC.
There are many different sales methodologies. Why do so many revenue organizations use MEDDIC to qualify leads and build a pipeline of valuable prospects?
Because the MEDDIC sales methodology – when it’s used in the right circumstances – can deliver some big benefits, including:
More effective lead qualification
Sales reps only have so many hours in the day. Ideally, they should spend time with prospects that are a good fit for their solution.
Yet, many waste their time on dead-end leads. And that means they often miss quota.
MEDDIC provides a structured framework for qualifying leads. Sellers know what information to uncover and what questions to ask to determine whether or not a lead is a good fit. Then, they can prioritize the most valuable leads – and cast any unqualified leads aside.
Better alignment with customer needs
B2B buyers expect sellers to understand their needs and provide personalized guidance and solutions. According to Salesforce research, 86% of B2B buyers are more likely to make a purchase if the seller understands their goals, and 84% expect sellers to act as trusted advisors.
B2B buyers are
The MEDDIC sales methodology allows sellers to understand buyers’ needs and goals. That way, the seller can tailor their approach and deliver personalized solutions and experiences that fit the buyer’s needs. With this approach, the seller is more likely to earn the prospect’s trust and business.
Shorter sales cycles
Enterprise B2B sales cycles can be quite long – ranging from months to over a year. Reducing the sales cycle leads to quicker revenue growth.
The MEDDIC sales methodology enables sellers to understand a buyer’s decision-making criteria and the processes that need to happen for a sale to occur. This insight can lead to a smoother (and faster) sales cycle.
More accurate forecasting
Sales forecasting is important, but it often misses the mark. Gartner’s research shows that less than half of sales leaders and professionals have high confidence in their organization’s forecasting accuracy.
The MEDDIC sales methodology uncovers key insights into the sales process. That way, sales teams can more easily predict whether (and when) a deal is likely to close. Teams can also more accurately identify risks to take proper mitigation measures.
Is the MEDDIC sales methodology the right fit for your organization?
MEDDIC is a popular sales methodology used by many B2B revenue organizations. But how can you determine if MEDDIC is the right sales methodology for your organization?
The MEDDIC sales methodology helps sellers uncover in-depth insights that help them determine whether or not a prospect is a good fit. It’s a great tool for organizations with enterprise-level customers, where long, complex buying cycles and large buying committees are the norm. The MEDDIC sales methodology can also be a good fit for organizations that sell technical or complex products or work with prospects requiring much customization.
If MEDDIC is a good fit, you can incorporate it into your sales playbooks and other enablement resources.
However, MEDDIC isn’t the right fit for every organization.
For example, if you’re selling a simple product with short sales cycles, the MEDDIC sales methodology may be overkill. MEDDIC requires a good amount of time, and it can feel off-putting for buyers who are considering a relatively low-cost purchase. As such, it can slow down (or even kill) deals.
Start qualifying prospects and closing more deals with the MEDDIC sales methodology
Sellers often waste their time with leads that never convert to buyers, which is no wonder so many miss their quotas.
With the MEDDIC sales methodology, your sellers have a structured sales framework for qualifying leads. That way, they can spend their time with well-fit prospects.
Furthermore, when done well, the MEDDIC sales methodology yields insights that can help sellers deliver tailored guidance, solutions, and experiences to buyers. This is key, as modern B2B buyers expect sellers to understand their unique needs and serve as trusted advisors.
MEDDIC can be a powerful sales methodology. But it’s important to incorporate it into your sales enablement framework and ensure every seller knows what it is and how to use it to qualify leads and close more deals.
Mindtickle is an award-winning revenue enablement platform that enables organizations to deliver training and coaching so every seller can master the MEDDIC sales methodology. In addition, AI-powered role-plays allow sales reps to practice the MEDDIC sales methodology in realistic, dynamic scenarios – and get instant feedback on improving their approach.
Of course, mastering the ins and outs of the MEDDIC sales methodology doesn’t necessarily mean your sellers are using it in the field. With Mindtickle’s conversation intelligence feature, you can see firsthand how sellers use the MEDDIC sales methodology on sales calls. Then, you can deliver sales coaching to help them sharpen their MEDDIC sales methodology skills.
Once your sellers have mastered the MEDDIC sales methodology, they can start prioritizing valuable leads – and convert more of them to customers.
Is Your Sales Training Falling Flat?
Want to see firsthand why some of the world’s best organizations choose Mindtickle to train their sellers on how to use sales methodologies like MEDDIC?
Request a Demo