MEDDICC was created by Richard Dunkel and Jack Napoli and with their kind permission we publish their model.
• MEDDICC provides the rigour to reduce Sales risk.
• Makes political sense if your company has invested in a CRM tool - use it to full effect.
• Ideal tool for deal reviews, managing and communicating upwards -
taking control of your career.
In my experience the most effective sequencing is IMEDDCC:
Identify Pain
Underlying truth
Nobody buys until there is a business problem that
needs solving. So start with the annual report and the
promises to the shareholders on key future activities.
Objective
Identify value drivers that are business critical,
operational de-risked and on personal career agenda
of stakeholder.
Critical questions
• What are the pains in the company, which require you right now?
• What main initiatives are ongoing right now?
• How are they related to what you are selling?
• What extensive research on news sites and the annual report will identify
transformational programmes?
Metrics
Underlying truth
C suite will not buy if they are not able to Quantify &
Measure the Potential Gain.
Objective
Tie your Technology solution (Software, Cloud, Mobility
etc) to strategically important initiatives. Selling a
business outcome is what customers will buy.
30% reduction in time to processing an order.
£50M savings in OPEX over 3 years.
Critical questions
• Why buy?
• Why buy now?
• Why buy your solution?
Economic Buyer
Underlying truth
Powerful buyers are humans first and have bias.
They enable sellers who they know, trust, respect
and will enhance their self-interest. EB has access to
discretionary funds. They can re-allocate budget from
one project to yours.
Objective
Meet and have dialogue with and influence of.
Critical questions
• Do you know the EB? Have you met them?
• Have you checked with them the decision criteria and process?
• What are their expectations? (ROI? Justification? Metrics? Personal agenda?)