MEDDIC is a B2B sales methodology that focuses on qualifying potential customers based on six key factors. The acronym stands for Metrics, Economic buyer, Decision criteria, Decision process, Identify pain, and Champion. Here’s a more detailed look at each of these factors:
- 1
Metrics: This refers to the measurable business outcomes that the customer is trying to achieve. The salesperson should seek to understand the key metrics that are important to the customer, such as revenue growth, cost savings, or increased productivity.
- 2
Economic buyer: This is the person or group with the authority to make purchasing decisions. The salesperson should identify who the economic buyer is for the customer, and seek to build a relationship with that person.
- 3
Decision criteria: This refers to the specific factors that the customer will use to evaluate potential solutions. The salesperson should seek to understand the decision criteria and position their solution to meet those criteria.
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Decision process: This is the process that the customer uses to evaluate and make purchasing decisions. The salesperson should seek to understand the decision process and guide the customer through it.
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Identify pain: This refers to the specific business problems or pain points that the customer is experiencing. The salesperson should seek to understand the customer’s pain points and position their solution as a way to address those problems.
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Champion: This is a person within the customer’s organization who is enthusiastic about the salesperson’s solution and can help to build support for it. The salesperson should identify and cultivate a champion within the customer’s organization.
The MEDDIC methodology is designed to help salespeople qualify potential customers and focus their efforts on those who are most likely to make a purchase. By understanding the customer’s metrics, economic buyer, decision criteria, decision process, pain points, and champion, the salesperson can position their solution in a way that addresses the customer’s needs and priorities. MEDDIC is a popular methodology for enterprise-level sales, where the sales process can be complex and involve multiple stakeholders.
