MEDD(P)ICC
Everything you need to know about MEDD(P)ICC
MEDD(P)ICC is probably the most widely used framework in SaaS Tech Sales today. Companies like Snowflake, Zscaler, MongoDB, Datadog, Cloudflare or Grafana rely on the framework, which can now even be found in job requirements. We at Tech Seller Temple think it is a great framework to ensure quality and want to give you an overview of why so many of these fast-growing companies have adapted the framework.
Summary
- MEDDPICC stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Paper Process, Implicate the Pain, Champion and Competition
- MEDDPICC emerged from the MEDDIC framework (=MEDDPICC just without “Paper Process” and “Competition”) and is commonly used in B2B Tech Sales
Components of MEDD(P)ICC
Metrics
Metrics emphasize establishing specific, measurable outcomes that your solution provides, highlighting its clear value. This approach simplifies the task of justifying the investment by laying the groundwork for a compelling business case. Examples of such metrics can be decreased working time (measured in minutes), enhanced application speed, improved availability, revenue increases, etc.
Economic Buyer
The Economic Buyer is the linchpin in the decision-making process and holds the ultimate purchasing power. By identifying and understanding this key stakeholder, sales professionals can more effectively tailor their proposals to address the Economic Buyer’s priorities, challenges, and the strategic impact of the proposed solution on their business. A common mistake is to think of the department as the economic buyer. However, the actual economic buyer, the person who ultimately signs the contract, is not involved or is involved too late.
Decision Criteria
Understanding the prospect’s decision criteria illuminates the path to purchase and outlines specific requirements and expectations for the solution. With this knowledge, sales teams can tailor their offerings to what the prospect values most, significantly increasing the appeal of the proposal.
Decision Process
A clear map of the decision process reveals the sequential steps the prospect takes to make a purchase decision. With this insight, sales teams can anticipate and prepare for each stage, ensuring they provide timely and relevant support to smoothly guide the prospect to a favorable decision.
Paper Process
The Paper Process recognizes the often overlooked administrative hurdles in the sales journey, from contract negotiations to compliance checks. A proactive approach to understanding and navigating these steps can dramatically accelerate the sales cycle and prevent delays that can derail otherwise promising deals.
Identify Pain
At the heart of every purchase is a pain point or challenge that the prospect is trying to solve. By identifying and deeply understanding this pain, sales professionals can more effectively tailor their solutions to ensure they address the root of the prospect’s need and position their offering as the optimal solution.
Champion
Champions within the prospect’s organization can be invaluable allies in advocating for the proposed solution internally. Cultivating these relationships and providing champions with the information and resources they need can significantly increase the likelihood of a successful sale.
Competition
A thorough understanding of the competitive landscape enables sales teams to strategically position their offerings, highlighting the unique benefits and differentiators that set them apart. This knowledge is critical to effectively countering competitive moves and reinforcing the unique value of their solution.
Benefits of using MEDDPICC
The structured approach provided by MEDDPICC brings numerous advantages, including improved qualification of prospects, enhanced alignment with customer needs, and more efficient sales cycles. These benefits lead to higher win rates and increased forecasting accuracy, driving revenue growth and improving the overall health of the sales pipeline. We are convinced that MEDD(P)ICC is not an empty framework, but really helps to ensure quality and uncover potential blind spots. Because in the day-to-day business it is easy to forget one of these points.
Further Reading and Resources
Learn in our MEDDICC question guide the essential questions to ask, understand each element of the MEDDICC framework, and close more deals with confidence. Perfect for sales professionals at any stage in their career.
The website that is probably most dedicated to the topic of MEDD(P)ICC is meddicc.com. The founder and CEO Andy Whyte has published the book “MEDDICC” and there is also a MEDDICC Masterclass if you want to verify your skills (unpaid advertising).