Implementing MEDDIC - MEDDPICC Explained In 10 Minutes!
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- čas přidán 4. 06. 2024
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MEDDIC the Sales Qualification Methodology behind the world's most successful enterprise sales organizations.
MEDDIC as it was first known is the number one methodology in enterprise sales. This video gives a brief overview of each element of the most commonly implemented connotation of MEDDPICC and MEDDICC.
If you are looking for an advanced online training course for MEDDPICC then check out the MEDDPICC Masterclass here: learn.meddicc.com
You can learn more about MEDDIC and MEDDPICC at www.meddicc.com .
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Thank you Johnny Sins for this insightful video !!!!
L O L !!!!!!! *updates LinkedIn*
😅😅 finally Johnny taught me a lesson
Nice -this is all we needed. Simple and to the point. The true Salesperson will know exactly what he means during each stage/point. Cheers
The best explanation of this sales process i was searching for!Thank you so much .Very generous!
Wow, you're so insightful and eloquent. Bravo.
Love this Andy. Thanks for sharing!
I’ve used this for years. Honestly so helpful, simple yet extremely accurate with great off the cuff examples and real world use cases. This is holy bible for MEDDPIC explanations. Thanks!
it´s always good to learn methodologies that enrich the sales process
Thank you, Andy! I started to read it yesterday
Thanks for presenting it simply and to the point
Very well presented Andy and I love the way you broke down each element. This is a great resource!
Thank you James, sir! I hope you are doing well :)
Excellent, concise summary of MEDDPICC. I'm about 1/4 of the way through your book, so this video provides an excellent roadmap for what I'm learning.
Awesome!!! Thanks for taking the time to explain this
Great video, very helpful, thanks man.
Love it. So much value in 10 mins!!
Thank you, friends 🙂.
Solid stuff, Andy. Great content & energy.
Thank you, Joe 🙏
Super helpful. Thank you!
Great overview Andy, leads me in to the book nicely. Thanks
Thanks very much, Oliver!
Thanks! Very clear and still brief
Thanks Leon! May your Champions be Strong 💪
Thanks so much for this! So so helpful! Helped me to really understand.
That's super to hear, Tadeyo. Thanks for stopping by 😁.
Very insightful!! Thank you!
Thank you for taking the time to comment Eli 🙂 🙏 .
Thank you very much - from an aspiring BDR / AE
Thanks for your time and trust Theo 🙂
Very helpful, thank you for your insight.
You're very welcome, sir! May your Champions be Strong 💪 !
Hi Andy, this video has been extremely helpful in refreshing on the process after a few years . Also, the job interview video was brilliant and definitely helped me prepare for multiple successful interviews recently . I’ll be purchasing your book next month . Thanks
Thanks, John! Can't wait to hear about the new role you find yourself 😁. May your Champions be Strong 💪
Speaking with a company that is deploying MEDDIC. Terrific overview and great learning. I'm purchasing the book next.
Thank you Eddie 🙂
Great video and break down.
Thanks Michael! I appreciate you taking a moment to say 🤝- Andy.
AMAZING explanation. 7:00 - 7:15 is a masterpiece.
Thanks, Ruben! 🙏 ❤️
Great video Andy. I bought your book and think your content is fantastic
Thank you Patrick!
Good point about resources, they are becoming more and more scarce these days. Really needs to be considered when developing your product & what market you'll be targeting.
Indeed! Sellers are so fast to dig into budget, but enterprise orgs can have all of the budget in the world and if there are no resources to manage the implementation/on-boarding then the deal will never get through! 🙂
Super clear, thank you so much
Very happy to help Phyllis 🙂
the biggest competition in any deal is for the prospect: DO NOTHING and keep the situation like it is.
I agree. I think especially today with so much innovation salespeople are asking prospects to consider more change than ever before and if they don't make that change multiple times more compelling than the status quo then inertia prevails!
Hi Andy, you have broken this methodology down amazingly. I wanted to point out that on the website in the WHAT WERE THE ORIGINAL LETTERS OF MEDDIC? section there is a typo under Implicate Pain. The letter used there is D(c) rather than I
Great spot! Thank you Danial 🙏.
Thank you!
Very Nice presentation I liked it
Thank you very much Felice 🙂
Thanks!
Thank you so much, Graham! 🙏
Hello,
Great video. Very helpful thanks! When is the book supposed to be available? Any chance I can pre-order already? Also when will this book be available in France (in English that's fine). Thanks!
Hey Yann, Great to hear from you. Thank you for your kind words. The book should be available next month! No pre-order set up yet, but I will be sure to let you know when we do have it. It will first be published in English, but with enough demand will be translated too 🙂.
@@MEDDICC Thank you very much for your answer. Do you have documentation available about the weight of each letter depending of the stage of the process. Let me explain: It's hard to get your MEDDICC right at the very beginning of the process since discussions are just starting. What would be the topic you would focus on depending on the maturity of the opportunity: Qualification -> Building business case -> Negotiating -> Closing (these steps are just an (easy) exemple, feel free to pick yours! :))
@@Ynn_dps Super question Yann! You are correct, it is hard to uncover all of the elements of MEDDICC early in your deal. My advice is to look for the Metrics, Pain, and Champion early in your deal cycle.
Let's start with Metrics - The best way to bring Metrics into your deal early is via the Metrics of your existing customers that will be relevant to your prospective customer. Showcasing the value your existing customers get with your solution does three things:
1) It acts as social proofing that you have solved similar problems and delivered value to other customers
2) It will open your customer's mind to the sorts of problems you solve and the value that is derived from your solution.
3) You get to talk about a negative situation that your customer may have without directly criticizing them.
Next up is the Pain - If you have worked through the Metrics with a curious approach and have asked good open-ended discovery questions throughout then you are likely to have uncovered some Pain. Your goal early in the deal should be not just to quantify (Indicate) the Pain but to Implicate it to your customer. This means you help them to really feel the negative consequences of their Pain. This will accelerate your deal towards an outcome.
Finally, the Champion - Early in your deal your Champion is going to be trying to figure out if they can trust you and if you are going to provide value to them. You want to be seen as an advisor to them. Someone that will make them look good. By working through the Metrics and showing you have done your research you will have gone a long way towards building your credibility. The key is to continue to build value, but, critically, maintain a relationship that is based upon outcomes. This is where the Decision Criteria comes into effect. You can start to lean onto your Champion to help you establish the Decision Criteria. Likewise, you should level with your Champion as early as you can to start building a plan to engage the Economic Buyer.
The other elements such as the Decision and Paper Process and the Competition are important to get in front of as soon as you can. But aren't as important as establishing the Metrics, Pain, and Champion.
I hope this helps - I really love to see questions here, so please keep them coming 🙂
Awesome video 👏
Thank you 👍
Can someone send me the link to his book please
Happy Saturday, Lisa! If you can make me laugh with your favorite joke I'll send you a copy FOC 😁.
you could use a separate microphone :)
Is this all happening during a discovery stage or is this a full sales cycle process... because this is SUPER random... all key important aspects of a sales process... but in very random order in my personal opinion
Hi Ashton, MEDDIC is not a process. It is a framework. There is no order in which you follow it. The letters are just formed into MEDDIC/MEDDICC/MEDDPICC as that is easier to remember than CIPMDDE etc 😂.
Great content and cool visuals, but painful to listen to. If you ever redo this, please buy a lavalier mic. Thanks!
Thanks for the feedback Lance 🙂. I am pleased to let you know that we have invested in top tier studio equipment since the release of this video. Watch this space! 😁
Ramble on.....
Ramble First Blood was better than Ramble First Blood Part II... Oh wait, that was Rambo.
My god at people who follow this nonesense to seal a deal, its nothing diffferent from people who invest tons of money and time for a Six Sigma Black Belt ,scrum or agile . to put it fast and simple, when closing a deal or qualifiying a valid one, you need two things
1) A good quality none buggy product
2) A competitive pricing for that product
Doesnt matter what methodologies you use if the 2 mentioned points above do not exist nothing will work. These videos will do you no good except waste your time
Imagine if it were that simple. Lol
You do need those thongs for sure, however if you are not able to promote that product to the right people, or you have not done done some basic profiling then your product mans little as there are myriad products that can take the place of yours.
This is simply a framework. Organisations have policies and structure. This helps understand that structure and to work with, not against that.
As usual, MEDDPICC, MEDDIC, MEDDICC, etc tries to explain all what you should do (which is a lot of things), but not how to do it. Typical sales pitch ;-)
Quick Summary:
• Metrics: This is about the goals the buyer has. Like, what they want to achieve by using our product.
• Economic Buyer: This is the important person who can decide if the company should buy the product. They have the money and power to say yes.
• Decision Criteria: These are the things the buyer looks at to decide if they like the product. It's like a checklist of what's important.
• Decision Process: This is the steps the buyer takes to decide. Who talks to who, and how they make up their mind.
• Identify Pain: It's like finding out what problems the buyer has. The product should solve these problems.
• Champion: This is like a friend inside the buyer's company who really likes the product and tells everyone how great it is.
• Competition: It's knowing about other things the buyer might buy instead. It helps Company understand how their product is better.
Metrics is more than just the goal of the buyer, it’s the product setting out its stall with what benefits it can bring. I.e. 20% decrease in operational costs once the product is implemented