MEDDIC method: why and how to use it?

How do you qualify a prospect? How do you close a sale, even in a complex process? To answer these crucial questions, there's the MEDDIC method!

You've probably heard of it: the acronym MEDDIC details every stage of this innovative and effective approach, which enables us to follow a precise process to improve our performance and our business strategy.

The quest for efficiency is an art, and of course, when it comes to optimizing processes, sales teams are interested. Modjo's teams have embraced it right from the start!

We'll show you how it works, how to implement it and how to optimize your sales strategy.

What is the MEDDIC method?

The acronym MEDDIC

A quick reminder: the MEDDIC approach is structured to qualify prospects upstream, then manage and close complex sales.

The acronym MEDDIC represents the seven key stages in the sales process:

• Metrics, i.e. the metrics or KPIs to be highlighted
• Involve the decision-maker: who decides whether or not to buy your solution?
• Decision criteria: the criteria used to make a decision
• Decision process, or what is the decision process?
• Identifying pain: identify your customers' weak points
• Champion : find the person who supports your project and can help you close the sale

Having all this information enables us to keep a constant check on our bids: we can calibrate our efforts correctly. At Modjo, we realized that every time a sale failed, it was because one of the qualifying questions had not been asked. How did we check this?

With thousands of customer interactions, it was still difficult for sales managers to understand whether the methodology was effective and applied. They were often left with sample-based analyses that were not only inaccurate, but also time-consuming and complex.

That's why Modjo has launched AI Call Evaluation. With this feature, sales managers can automatically analyze the adoption of their methodology in all interactions with prospects and customers, without any effort.

How does it work?

- You can create any score template in less than a minute,

- The AI analyzes all sales interactions to verify the application of the qualification method: the closer the call score is to 100, the more the method is applied.

- This enables your sales reps to carry out a self-assessment immediately after a call.

Teams easily understand performance gaps in their sales cycle and can implement coaching actions or rework their methodology accordingly. Find out more.

Danger fou... We use MEDDIC at Modjo! So we've sent you all the questions that appear on the MEDDIC internal scoring model.

Is the MEDDIC method right for your team?

MEDDIC was developed to support a complex sales strategy. We owe it to Jack Napoli and Dick Dunkel, when they were working for PTC. They realized that some sales have high stakes:

• Long-term sales (over 4 months)
• High-budget sales
• Those involving numerous contacts (5 or more)
• Those that can upset a company's internal structure

Sales teams therefore need to adopt a structured, focused approach, like MEDDIC. This helps establish a relationship of trust with our customers: we show them that we understand their needs, can solve their problems and help them achieve their goals.

How can we apply MEDDIC to our sales strategy?

Indicators: measuring our success

We all know that it's important to quantify our results to better understand our impact. In the MEDDICC acronym, the M emphasizes the KPIs that enable us to concretely demonstrate the benefits of our products or services.

It's not just about sales figures. KPIs can be about productivity gains, cost savings or customer satisfaction. The right indicators are those that really correspond to our product or service and speak to our customers.

But above all, you need to know exactly where your prospect's KPIs are and where he wants to take them.

To guide them, we use case studies to illustrate our products in a clear and understandable way. We want our prospects to understand right away why it's worth investing.

We really bring them into the investment mindset, just as we do with real estate.

To ensure that the AI verifies that this first step has been validated, this question was entered when the MEDDIC model was created:

Involving the decision-maker: identifying decision-makers

We've all had to deal with people who've wasted our time. MEDDIC's objective is to quickly identify the decision-maker, the one who has the power to say "yes" to our offer. Once we've identified them, we can concentrate our efforts on them and deploy our best persuasion strategies.

There are two ways to find it:

1. Ask the question. It may sound silly, but asking our prospects directly who the final decision-maker is can be a real time-saver.
2. Pay attention to clues and information. Sometimes, our economic buyer is not easy to identify. So it's up to us to find out who's holding the purse strings, by looking for someone in charge: a CFO? A purchasing manager?

In both cases, count on experience.

Explore your prospect's buying experience by asking, "Of all the old tools you've adopted, who was in the decision loop?"

You can also draw on your own sales experience. For example, at all our recent Modjo sales, the CFO was always present.

The decision-maker is the key to unlocking complex sales. But let's not forget that his or her position within the company can change! For example, a year ago, the CFO was never involved in sales. Today, he'sthe hub.

To ensure that the AI verifies that this second step has been validated, this question was entered when the MEDDIC model was created:

Decision criteria: understanding expectations

To sell better, it's essential to know our customers' decision-making criteria. These may include product quality, price, company reputation or after-sales service.

The problem we often encounter is that these criteria are rarely precisely defined. They remain vague.

So, to understand what motivates and concerns them, we start by asking questions. We do some research on the company to find out more about its goals, values and culture.

Once we have the information, we have two lines of attack:

1. We propose decision criteria, based on what we've identified (and what suits us).
2. We encourage prospects to put their criteria in writing.

Once we know what really matters to them, we can adapt our sales strategy accordingly.

To ensure that the AI verifies that this third step has been validated, this question was entered when the MEDDIC model was created:

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Decision-making process: monitoring the purchasing process

With the MEDDIC method, we seek to understand the decision-making process in order to better anticipate needs and expectations.

Knowing the key stages in this process enables us to adapt our approach and be present at the right moment to positively influence their choice. For example, we prepare documents adapted to each level of decision. We also anticipate potential objections with solid arguments to counter them.

It'salso up to us to impose our buying process. We adapt, but we also clearly present our sales process: "This is the experience you'll have when you talk to me".

And throughout the decision-making process, we stay in touch with our contacts. This enables us to accompany them, advise them and reassure them, to help them succeed at every stage.

To ensure that the AI verifies that this fourth step has been validated, this question was entered when the MEDDIC model was created:

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Identifying pain: targeting problems

Our mission as salespeople is to solve our customers' problems. Thanks to MEDDIC, we can identify their problems (weak points) and propose appropriate solutions. Our goal is to become the hero who saves the day!

We ask them questions that challenge them. We make them wonder about things they hadn't seen, or about data gaps they hadn't anticipated.

The next step is to analyze these problems to determine which are the most urgent to resolve. Tools such as the Eisenhower matrix or the "5 Whys" method can be used to prioritize problems and identify their root causes.

To ensure that the AI verifies that this fifth step has been validated, this question was entered when the MEDDIC model was created:

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Champion: an ally for your sales strategy

Finally, the C in the MEDDIC acronym stands for Champion. Identifying and collaborating with him maximizes our chances of success. To find him, we identify the people who understand our added value, who are ready to defend us internally, and who have enough influence to sway decisions.

Once we've identified our champion, we work hand-in-hand with him to develop an effective sales strategy. We share our arguments, case studies and testimonials: he must have all the cards in his hand to convince the other stakeholders.

It also tells us how to address our internal contacts. What is the right relationship to adopt with them, what are their expectations or fears?

And for our part, we promote him as an expert and opinion leader within his company, to reinforce his influence and credibility.

To ensure that the AI verifies that this last step has been validated, this question was entered when the MEDDIC model was created:

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In short, MEDDIC enables salespeople and sales teams to be more efficient and precise in their approach. When we focus on the aspects that are most important to our prospects, we avoid the pitfalls of complex sales. Used correctly, this method enables us to create a relationship of trust: we show that we understand their needs and are ready to support them. In short, we improve our performance and make more sales, even complex ones!

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