MEDDICC Sales Prospects

Simple sales qualification process to help find better-quality prospects...

Steps: 12
Last edited: May 3, 2024
Created by: Nova

About this process

The MEDDICC methodology is a sales qualification process to help find better-quality prospects/sales leads. MEDDICC stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, and Champion. This methodology was created by Dick Dunkel. John McMahon, Jack Napoli are now collaborators.

The process in detail

12 steps

1
🎢 Metrics: Find out what the customer hopes to gain from your solution.
2
🤑 Economic buyer: Who serves as the company’s economic buyer? Does the company possess buying power and the budget for your solution?
3
Decision criteria & Decision process.
4
Identify pain (pain point)
5
Champion: Find a champion—someone on the inside who is invested in your product and helps you.
6
Competition: The Competition is any person, vendor, or initiative competing for the same funds or resources you are.
7
Overall Notes.
8
Evaluation: Do they have the budget?
9
Evaluation: Do they have the authority or process?
10
Do they have the need? (immediate need)
11
Do they have the time? (right now/next 90 days)
12
Status.

Read the full text

1. 🎢 Metrics: Find out what the customer hopes to gain from your solution.

•What do you hope to gain from our solution?🎢

•Can you describe the ideal outcome you envision after implementing our solution? -- or-- Can you provide examples of how achieving these gains would positively impact your business operations?

•In what ways do you anticipate our solution impacting your key performance indicators (KPIs)?

•Have you set any specific targets or goals that you expect our solution to help you reach?

🙌 Once you understand the metrics important to the customer, you can demonstrate how your solution offers a strong return on investment (ROI).

Write a note

2. 🤑 Economic buyer: Who serves as the company’s economic buyer? Does the company possess buying power and the budget for your solution?

The Economic Buyer is the person with the overall authority in the buying decision.

•🔥What budget have you allocated for this solution?

•Who within your organization is responsible for making purchasing decisions for solutions like ours?

•Can you describe the decision-making process for acquiring new solutions or services?

•Have you already set aside budget for this particular type of solution, or would it require additional approval?

•Are there any key stakeholders or influencers who need to be consulted before a purchasing decision is made?

•Who else within your organization is involved in evaluating and finalizing purchasing decisions?

If possible - Talk directly to the economic buyer to learn about their expectations, personal metrics, and decision-making process.

Choose one or more

They don't have a budget or clear criteria.
They have a small budget.
Multiple people are part of the decision-making process, and it's a complex process.
They have a budget and a clear decision-making process and owner.

3. Decision criteria & Decision process.

You also need to grasp the criteria the company employs in decision-making. Companies frequently encounter various solutions from different sources, compelling them to compare and choose. Understanding their decision-making process enables you to refine your messaging effectively.

•What factors are most important to your company when evaluating potential solutions?

•Can you walk me through the typical decision-making process for purchasing a solution like ours?

•Are there specific requirements or criteria that a solution must meet to be considered viable for your company?

•Are there any deal-breakers or non-negotiable criteria that a solution must meet for you to consider it?

•Are there any external factors, such as industry regulations or market trends, that influence your decision criteria?

The decision criteria inform you about what factors influence a company’s decision, whereas the decision process reveals how that decision is enacted and followed through.

•Who are the key stakeholders or decision makers involved in evaluating and approving purchases?

•How do you typically gather information and assess different options during the decision-making process?

•How do you prioritize and weigh different considerations when comparing potential solutions?

•Can you describe any challenges or obstacles that you typically encounter during the decision-making process?

Write a note

4. Identify pain (pain point)

Before pursuing a solution, a customer must first have a need, making it crucial to understand the source of their pain or problem. This pain can manifest in various forms, 👀🔥such as high costs, slow production, or low revenue. It's important to identify the customer's pain points and then demonstrate how your solution can alleviate them. Consider the consequences if they don't decide on a solution or make a poor decision. How will your solution address and rectify these issues?

😢 Are there any recurring problems or issues that you consistently encounter in your workflow?

😢 Can you describe any specific pain points or frustrations you encounter when using your current solution or process? How do these challenges impact your overall productivity or efficiency?

😢 What are the primary obstacles preventing you from achieving your business goals?

😢 Can you quantify the financial or resource implications of these pain points on your business?

Write a note

5. Champion: Find a champion—someone on the inside who is invested in your product and helps you.

👇Add name/email below.

6. Competition: The Competition is any person, vendor, or initiative competing for the same funds or resources you are.

What solutions have you tried in the past?

Write a note

7. Overall Notes.

Add notes

8. Evaluation: Do they have the budget?

Choose one

9. Evaluation: Do they have the authority or process?

Choose one

10. Do they have the need? (immediate need)

Choose one

11. Do they have the time? (right now/next 90 days)

Choose one

12. Status.

🖐👍⏰🏆🔥🔴🎯 Select one.

Choose one

Open 🖐
Qualified 👍
Proposal 🎯
Negotiation 🔥
Won 🏆
Unqualified 🔴
Bad timing ⏰

Use this process

Capabilities

Fully editableAdapts as work changesAdd more sessions anytimeAI can be assigned

Created byNova·Official process

Last edited May 3, 2024·12 steps