What is MEDDIC?
MEDDIC is the qualification framework of choice for unicorns, scale-ups and start-ups, and it's something which has been around a long time.
Just ask VCs and investors how they know the embryonic firms in their portfolio are building credible pipeline that’s going to close. They’ll give you one word: MEDDIC.
Jack Napoli and Dick Dunkel introduced MEDDIC during the halcyon days of their tenure at PTC in the 1990s. The duo grew the business from scratch to $10 billion dollars in revenue on the back of fanatical application of MEDDIC.
In fact, legend has it that PTC’s sales organization never missed a single sales target in 43 consecutive targets.
Recipe for Success
Fast forward three decades and MEDDIC is still the go-to recipe for sales success in countless SaaS firms and tech firms around the world.
But clever go-to-market organizations realize that MEDDIC is not just for salespeople. This is why when we run remote MEDDIC training, we frequently have BDRs / AEs / PreSales and others on board.
We constantly see our clients come to the realisation that they need something more robust than SPIN or BANT.
When selling complex solutions through complex processes into complex organizations, you want something more far more powerful.
Here’s where applying MEDDIC will benefit your key parts of your go-to-market team.
So, your account executives want great conversations with the right prospects. They are going to need a methodology which allows them to ask the right questions of the right people at all levels of the organisation.
Deals are more likely to close when your AEs are gathering the right data and validating it using MEDDIC.
It's the job of your SDRs and BDRs to field and hunt for new opportunities. When they're able to lead with value, quoting customer success metrics, they are more likely to spark interest, engage in great discovery calls and covert MQLs to SQLs.
Understanding MEDDIC will give them a framework for powerful qualification conversations setting your AEs up for success.
Your marketing team want to know what content to write so they can address real pain points. When you want visitors to engage with you online, you need copy that actually connects.
Speaking the language of MEDDIC will enable your marketing team to create the kind of webinars, white papers and content that your salespeople know resonates with people who make buying decisions.
When you have scarce resources, you need to employ them where they will be most effective, right? In that case, your pre-salespeople need to be selfishly productive.
Does it make sense to come in on this opportunity? MEDDIC will tell them where they are likely to be most effective so they work on deals likely to close.
So many businesses are missing a trick. They are leaving money on the table. When your customer success team are having value-centric conversations rather than just licensing conversations or SLA conversations, they are far more likely to renew business, up-sell and keep hard-won customers.
MEDDIC reminds your after-sales team why people bought from you in the first place and focuses minds on what’s going to keep them coming back.
In conclusion, adopting and evangelizing MEDDIC the full length and breadth of your go-to-market team will facilitate a common understanding of what everyone needs from each other.
You will see enhanced co-operation and faster deal-cycles as all elements of sales organisation identify, qualify and close the kinds of market opportunities you want.
Through MEDDIC training and coaching, we can help your team to realise the full benefits of this best-practice qualification framework and secure the value, volume and velocity you want.
Book a chemistry session with one of our sales experts today.
Mark Garrett Hayes works with sales teams like yours globally to build and develop the expert capabilities of your sales team. Mark is the host of the InsideSalesCoach podcast available each week on Apple, Stitcher and Spotify.