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What are MEDDIC qualification questions? The questions are core components of the MEDDIC Sales process; in this article, we will dig into the process and critical questions you can use to succeed with the process.
What is the MEDDIC Sales Process?
MEDDIC is a lead qualification widely used by sales organizations – perhaps even by your sales team.
The goal is to gather enough information to determine if the potential customer is indeed a potential buyer, not simply a good fit for your offering.
MEDDIC stands for the following:
- Economic Buyer
- Decision criteria
- Decision process
- Identify pain
Each of these covers a core component of the lead qualification in the MEDDIC sales process.
And each is discussed in detail below.
But, wait… What is MEDDPICC in sales?
You ask good questions.
MEDDPIC is an extension of MEDDIC, with the P standing for Paper Process and the additional C standing for Competition. We include information on these other items below.
Digging into the Framework
The initial set of MEDDIC qualification quests are Metrics – you are going to need them as part of your lead qualification process. Can you impact the business in the manner that the potential customer requires?
- What is your average order value?
- How are you tracking against the target?
- What is your growth target?
- How are you tracking against that goal?
- How long is it taking?
- What would you do with that time if you had it back? How would that affect your plans?
Understanding the right metrics that matter to your potential buyers will allow you better define the possible ROI of working with your business.
Next up in the MEDDIC sales process… The company’s economic buyer.
You need to know who has the power to make decisions and authorize spending. It may be beneficial to talk to someone higher up in the company than your current contact. Knowing the economic buyer and their mindset will help you close sales as the buyer’s veto power makes them the one person at the potential customer who absolutely must be convinced.
If possible, talk directly to the economic buyer to learn about their expectations, financial criteria, budget constraints, and the decision-making process for purchasing solutions. In some cases, talking will not be possible, in which case you should try to get this information about the economic buyer from your contact. Use this information to make the sale palatable to the lead, even if it is not directly affected.
Here are a few example MEDDIC qualification questions your account executives can ask the economic buyer.
- Who would ultimately sign off on this (i.e., who has the final decision)?
- Would they need to see the product?
- What value would they get from the product?
- How would it help their objectives?
- What are their metrics?
- What are they likely to say?
Sometimes you will be surprised how senior an economic buyer can be; for example, who do you think makes the purchasing decision at Trust Enablement?
Next up in the MEDDIC sales methodology…. The decision process.
While the decision criteria tell you what goes into a company’s decisions, the decision process tells you how that choice is made and followed through. A decision process will include the person who makes a decision, the potential customer’s timeline, and any formal approval processes in place. You need to know this information to have an accurate sales pipeline.
When you know the decision process, you are much less likely to lose sales due to stagnation. You know what needs to take place on the potential customer’s side to close the deal, so you can work to meet those conditions.
If, for example, you know that the economic buyer has okayed the decision but has not completed the follow-up process paperwork, you can specifically push to get that paperwork taken care of, thereby closing the sale.
Understanding this process gives you an edge in getting to a buying decision.
As you move through the MEDDIC sales process, you have learned the key metrics, uncovered the economic buyer, and understood the essential elements in the decision process.
Now you need to uncover how they make financial decisions.
- What exactly would you need to see to make a decision?
- What would (other stakeholders) need to see to make a decision? Who are the decision-makers?
- Why is that important to you?
- Which one of these pieces of criteria is the most important?
- What exactly would we need to demonstrate to be your partner of choice?
- Who else would we need to impress to get this over the line?
These questions will help you uncover the critical factors in your prospect’s decision-making process.
The potential customer must have evident business pain before pursuing a solution, and it’s vital to understand these pain points.
This pain can manifest in many ways, including high costs, slow production, and low revenue. Identify the pain the customer is experiencing, and then identify how your solution can relieve it.
What will happen if they don’t decide on a solution or if they make a terrible decision? And how will your solution fix it?
These MEDDIC qualification questions are crucial to your success.
- What are the priorities you’re focused on right now?
- How do your departmental goals (targets) affect the overarching business goal?
- What are some of the considerations/concerns/risks to take into account?
- What are the implications of not hitting that target/solving that problem?
- How does that feed into the overarching business goal?
- What is the strategy for solving this problem?
- What have you tried in the past to solve that problem?
- What would a good year look like?
- Why has the business picked that number? (target)
- What effect would it have on the company if you overachieved on that target?
Your Champion does not have to be a senior leader, but they must be well respected. If they have influence and respect in their business, your Champion will significantly simplify your deal and make the purchase process move forward more quickly.
Want to determine if you have a true champion?
- If this was your decision and budget, would you buy it?
- What do WE need to do to get this in the hands of your team?
- Are you prepared to take the proper steps/work together to get this over the line?
- Have you asked your CEO/Boss for something like this before? What did they say?
- Does your boss trust your decisions?
- What objections are they likely to have?
- How will you help them see the value?
- How will they measure the return on investment of this purchase?
Let’s briefly discuss MEDDPICC
As noted above, MEDDPICC adds two additional elements to the MEDDIC qualification questions.
Your goal in the paper process is to uncover any obstacles in getting contracts, NDA, security questionnaires, and similar reviewed and approved by appropriate stakeholders.
Questions might include:
- How does the procurement process work?
- Will we need to be added to an approved vendor list?
- Does your security team need to validate our solution?
Few deals occur without Competition. Another vendor, another option, almost always exists.
To gain a competitive advantage, watch for traps set by your potential competitors and build great relationships with stakeholders to uncover their existence in the deal.
The MEDDIC sales process does not guarantee you sales success. However, it can play an essential role in helping improve your sales efforts and is worth your understanding and potentially adding to your overall sales process.
As an Enablement Professional, ensure you tie MEDDIC into your overall Enablement strategy, the training you deliver, and so forth.
Dirk Dunkel created MEDDIC during his time at PTC in the mid-to-late 1990s.
MEDDIC stands for Metrics, Economic Buyer, Decision criteria, Decision process, Identify pain, Champion
MEDDIC stands for Metrics, Economic Buyer, Decision criteria, Decision process, Paper Process, Identify pain, Champion, and Competition
MEDDIC stands for Metrics, Economic Buyer, Decision criteria, Decision process, Identify pain, Champion, and Competition
Living Enablement as a practitioner and as a leader. I’ve seen the confusion and frustration that many practitioners live. From working in other areas of the business, I’ve also seen the genuine need for the capabilities that enablement provides.