MEDDPICC – Competition

Alternative Text

THE ELEMENTS OF MEDDPICC

COMPETITION


The Competition is any person, vendor, or initiative competing for the same funds or
resources you are.

The most common mistake sellers make around competition is limiting their thinking that their competition is only those with rival solutions.

Your competition could be any individual, initiative, or vendor competing for the same funds or resources you are.

Types of Competition

A list of possible competition could be:

Each of these types of competition requires a different kind of approach that is detailed at length within MEDDICC – The Book.

Rule one of sales is Do Not Knock Your Competition. Seriously, don’t. It’s fine to have a competitive strategy, but if you think openly criticizing your competition is a strategy, you are wrong. Your strategy sucks.

Competitive Strategy

Your Competitive Strategy should focus on putting you on the front foot over your competition.

There are three areas of your competition to consider:

Competition and your Sales Process

Summary Snapshot of in the sales process:

Summary of Competition

Your competition can be much more than just your rivals with comparative solutions. Your competition can be other people internally fighting for the same resources either to build their own solution to the problem you solve or to invest in solving another issue altogether.

As a result of this complexity, it is essential that you quickly establish who your competition is and what the Political, Technical, and Commercial landscape with the competition looks like.

Once you have a good handle on who your competition is, you have to understand why your solution is better. Elite Sellers do this by digging in deep to the customer’s Pains and needs using Discovery to find differentiators and to set themselves apart.

Knocking the competition directly rarely has a positive outcome for the party being derogatory, and in some cases, it can backfire on them entirely.

Using a Competitive Strategy Plan can help keep all parts of a Competitive Strategy in focus and the Seller on the path to becoming the chosen vendor.


This page is a super-condensed definition of Competition. For full insight, strategies, tips and hacks on how to use the Competition in your MEDDPICC / MEDDICC / MEDDIC Framework be sure to buy MEDDICC – The Book.

MEDDIC – THE BOOK
AVAILABLE FROM 2ND DECEMBER

The book deconstructs MEDDICC into easy to understand and implement steps. Breaking down every letter of the acronym into actionable insights complemented by commentary on how MEDDICC can help sales organizations to revolutionize their sales execution and efficiency

Sign up for updates by entering your email below:




Alternative Text

‘MEDDICC – The Book’ Sneak Peak!

The Competition is covered in ‘MEDDICC – The Book’ in great detail. There are sections on: