MEDDPICC Fundamentals and Sales Process
This MEDDPICC element requires you to identify the business problem the prospect is trying to solve and understand its value and compelling event.
What is Identify Pain (or I)?
CVO stands for this three-word phrase that represents tangible proof the prospect is ready to progress to the next stage.
What is Customer Verifiable Outcome?
At IQM, your primary contact must meet this role rubric: they're either a Controller or hold this leadership designation.
What is 'Head of'?
At the Workshop stage, the AE and SE must complete this activity with Dave and an Auditoria Exec Sponsor before conducting the actual Workshop.
What is a dry run?
At Contract Proposal stage, you create this first draft of a mutual plan and review it with David Osborne.
What is the MAP (or Mutual Action Plan)?
In MEDDPICC, these are the two 'D's that represent what the prospect needs to achieve and how they'll make the buying decision.
What are Decision Criteria and Decision Process?
At IQM, you must identify these four CVOs: Pain, Volume, Economic Buyer, and this technology foundation.
What is ERP Stack?
During Discovery, you inject this type of evidence in each meeting based on pain and persona to build credibility.
What is social proof (or customer stories/references)?
For Workshop prep, the SE must request these challenging documents from the prospect to test the solution with real data.
What are the hardest, most complex invoices/supplier docs?
At Workshop stage, once you confirm technical win, you must identify this person who will actually sign the contract.
Who is the Signatory?
DAILY DOUBLE
This MEDDPICC element asks you to identify the person with budget authority and the power to sign the contract
This CVO at IQM requires the prospect to agree to this meeting type with their Economic Buyer before you can advance to a Solution Presentation.
What is Deep Discovery?
At Discovery stage, you "sell" this to the prospect, ensuring they understand your steps, timeline, and requirements.
What is the buying process?
The Workshop prep session should take this much time relative to the actual Workshop duration.
What is 2x (or twice the time)?
At the IQM stage, you must ask this high-level MEDDPICC question about legal, security, and procurement steps that could delay you later.
What is the Paper Process?
The Difference between these two MEDDPICC roles: one actively sells for you internally, while the other just provides helpful information.
What are Champion and Coach?
This three-part framework completed at Deep Discovery asks three questions.
What is the Leader Framework? Why do anything? Why now? Why Auditoria?
These are the four key personas you should conduct Deep Discovery sessions with: Controller, IT, Accountant, and this finance executive.
Who is the VP of Finance/CFO?
At the Workshop stage, you must document these specific criteria that define what technical success looks like for the prospect.
What are Technical Success Criteria?
At Contract Proposal stage, these three critical date fields must be filled in CRM: Close Date, Contract Start Date, and this end milestone.
What is Contract End Date?
At the IQM stage, you must identify this MEDDPICC element that asks what proof points can be leveraged and what impacts the business pain has.
What are Metrics (or M)
This Workshop stage CVO requires getting verbal confirmation on this vendor status from a Director+ level contact during the Feedback Call.
What is Vendor of Choice (or VOC)?
Before the Solution Presentation dry run with sales leadership, you must create these five artifacts including Solution Hypothesis, Value Pyramid, Champion Deck, Early Business Case, and this proof collection.
What are Customer Stories?
This Workshop stage inspection question asks whether you've influenced the prospect's Decision Criteria and Decision Process, and if they've eliminated "no decision" and other SaaS tools.
What is 'build in-house'?
During Legal Negotiation, the Contract Start Date must be within this many days of signature, and you must work internally to flag deviations from standard contract terms and these two other requirements.
What is 30 days (and SLAs and custom requirements)?