MEDDPIC is a sales methodology that stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Paper Process, Identify Pain, and Champion.
MEDDPICC is a sales methodology based on qualification for complex, enterprise, Business to Business sales. MEDDPIC is a variation of MEDDIC that has evolved to include a P that stands for Process.
The MEDDPIC sales methodology was developed by Jack Napoli, a former sales executive at Salesforce, in the mid-2000s. Napoli developed the methodology based on his own experience in sales, and he has since written and spoken extensively about its effectiveness. The methodology has been adopted by many sales organizations and is often used as a framework for sales training and coaching.
Here’s a brief explanation of each component:
- Metrics: This refers to the key performance indicators (KPIs) or metrics that your customers use to measure their success. Understanding these metrics is important because it can help you tailor your sales pitch to show how your product or service can help them achieve their goals.
- Economic Buyer: This is the person in the customer organization who has the authority to make purchasing decisions. Identifying the economic buyer is important because it helps you understand who you need to focus on convincing to make the sale.
- Decision Criteria: This refers to the factors that the customer uses to evaluate potential solutions. Understanding the decision criteria can help you tailor your sales pitch to address the customer’s specific needs.
- Decision Process: This refers to the steps that the customer goes through when making a purchasing decision. Understanding the decision process can help you anticipate potential roadblocks and plan your sales strategy accordingly.
- Paper Process: This refers to the internal processes that the customer uses to approve purchases. Understanding the paper process can help you navigate the bureaucracy and paperwork involved in making a sale.
- Identify Pain: This refers to the specific pain points or challenges that the customer is facing. Understanding the customer’s pain points can help you tailor your sales pitch to show how your product or service can help solve their problems.
- Champion: This refers to a person within the customer organization who is enthusiastic about your product or service and can help you navigate the decision-making process. Identifying a champion can be helpful in gaining traction and building momentum for your sale.
Overall, the MEDDPIC methodology is designed to help salespeople understand their customers’ needs and tailor their sales approach to address those needs.
