Competition
You need to keep this person engaged throughout the conversation about your competition:
Your champion
How many vests are in Wolf's wardrobe?
More than any human should own
This group is THE most important adopters:
What reaction should you have to a low score on the MEDDIC Scoring and why?
Glee/Happiness – it means MEDDIC has filled its purpose of uncovering an area that requires further qualification
What does MEDDPICC-R stand for?
Metrics, Economic buyer, Decision criteria, Decision process, Paper process, Implicate pain, Champion, Competition, Risks
The different types of competition may be your competitors, other projects, a home-made solution or this:
Inertia / status quo
What does an Amber Flag indicate?
Not a significant risk, not impacting progress
What CB employee is most likely to be elected Mayor of Lodi, CA?
Dustin
Atul Gwande, wrote a book called The Checklist Manifesto, what was his occupation?
Surgeon
What tool do elite sellers use to plan through the decision and paper processes?
Go-Live plan
What do we see most sales reps tend to do when facing competition in a deal?
Focus only on pricing advantages
The risks in the early stages of your deal are usually related to what?
Deal qualification
How frequently does the book suggest running MEDDICC account planning reviews?
Weekly
Who wore it best?
Neither...unless you're at Coachella
At any point when a customer is no longer qualified in the MEDDICC process, what do elite sellers do?
Walk away
When did Gerry lose his hair?
Too early
What is your best tool for eradicating risks?
Champion
You need full support of which team to ensure full adoption?
Executive
Keep this tool highly visible to the sales team to ensure alignment and accountability.
The closing checklist
What two processes should you align MEDDICC to?
1. Customer’s buying process
2. Internal sales process
When facing competition in a deal, what is the recommended approach instead of badmouthing your competitors?
Lay out the strengths of your solution and tie them to customer pain points
Risks can be grouped into these three categories, similar to how competition is classified.
Political, technical, and commercial
For every hour spent training frontline, how many hours should you spend training frontline managers?
Two
What is the benefit of a Pause Point?
Stopping to really consider the items on the checklist, evaluate the status, and make adjustments if necessary
The Ds in MEDDICC don’t refer to “this”, but instead it’s a mindset you use throughout the sales process:
Discovery