00:00 Pim Roelofsen: Welcome to The MedMen Show. My name is Pim and that's Andy. 00:03 Andy Whyte: What are we talking about today, Pim? 00:04 Pim Roelofsen: Today, Andy — we are talking about measuring MEDDIC. You don't often hear measurement and MEDDIC together. But like anything you measure, there have to be common definitions. And that's why we love the common language definition so much — because from a measuring perspective, it gives you the language you need to start measuring things. 00:28 Andy Whyte: Yeah. Think about even the most practical things. You and I talk about cars all the time and speed — you're talking kilometers, I'm talking miles. It's already getting difficult, even though that difference is relatively simple. And if you remove a MEDDIC concept — let's say a stakeholder label like champion — all of a sudden you're talking about a key stakeholder and I'm talking about a key person of interest, or a person of importance, or any number of different ways of referring to the same thing. And you'd be completely unable to measure across the impact of, for example, having a champion or not having a champion — or going even deeper and asking: how does having a qualified and tested champion early in an opportunity impact success rates across our organization? You just can't do that without a common language. Because one organization calls it a very important person, another calls it a key stakeholder — and they might have different definitions even within that. So you're going to be unable to measure. 01:30 Pim Roelofsen: You are absolutely right. And this is also why you don't necessarily need to wait until later in your MEDDIC initiative to start measuring. Because as you say — you can already ask: how many champions, in the common definition, do I have in my opportunities today? And what does that ultimately lead to? You can start right away. We class those as leading indicators — looking for those things and then measuring against them. And this pulls through the entire customer lifecycle. Because we've been talking about sales velocity for a while too. 02:03 Andy Whyte: Yeah — I'd say it goes further than that. Sales velocity typically talks about the sales process: the number of opportunities you have, their value, conversion rate, time to close. That's sales velocity. But let's stretch even further — let's start to look pre and post, for the whole go-to-market team, because they care about the entire customer lifecycle. So if you've got a rock-and-roll go-to-market team, you should be thinking from a positioning perspective: who are we trying to capture the attention of? That would be a champion. Your ideal scenario is a lead comes in from someone who could be a champion for you. So as a marketing team, you want to measure: how effective is our marketing at capturing the attention of champions? Maybe it's actually the economic buyer you want to capture. If you're really firing on all cylinders, you'd have separate campaigns for different personas. But you want to be able to measure: is this messaging capturing the attention of that CFO who might be the economic buyer, or a director of finance who could be the potential champion? 03:13 Andy Whyte: And that's just the start. Then we look at how impactful those champions are through the sales process. We win the deal — and then how impactful is it that we stay engaged with our champions once we've gone live? Particularly the economic buyers, who tend to disengage — especially in a solution sale where it's in place and doing its job and they're at arm's length. But we still want to stay engaged with them. And you can also look at another element here: the M3 — the mutual goal you've defined with a customer. How many of the M3s we define with customers do we actually deliver on and go back to becoming M1s? As you can see, it can get very versatile. 04:05 Pim Roelofsen: But I'll also say that ultimately measuring MEDDIC stays simple. Because of the common language you can spread across the entire go-to-market motion, the entire customer lifecycle. So before selling and closing — in pipeline generation — you're really measuring your ability to create pipeline by focusing on those personas, seeing what resonates and course-correcting on that basis. In selling and closing, you're measuring the effectiveness of selling and revenue output. And then the last part — what is your ability to upsell and renew those customers? Tie them all together and what do you have? 04:46 Andy Whyte: Go-to-market velocity. 04:48 Pim Roelofsen: Yeah — that really sparks something! Which brings me to the M framework — because as you know, we have this value framework that talks about M1s being use cases: a hypothesis of value through to proven value with real customers, that allows go-to-market teams to position: "This is the kind of value we can bring to you." And of course it's in MEDDIC language — it talks about what's the pain without this use case, what's the value in solving it, how do you measure that value, what decision criteria does the customer need to replicate it, who it matters to (the champion and the economic buyer), and who you're competing against — and why you're the superior solution. That captures the customer's attention. And if it interests them, you evolve that to an M2 — where you personalize those metrics inside the use case to that specific customer. 05:35 Andy Whyte: And even in that example, measuring it is incredibly powerful. Imagine you're an organization with ten M1s — ten popular use cases that tell the story of how your solution delivers value. If you start to measure which ones always make it to an M2 — which use case, when you tell it to the customer, makes them say "yes, that's exactly what we want — tell me what that would look like for us" — and you can see as a go-to-market team that there's an M1 that always moves through, you should be thinking: that really resonates in the market. We need to organize a webinar around that M1. We need to put some paid media behind it, give it its own landing page on the website. 06:18 Andy Whyte: And then the same story carries through to those M2s — which M2s always convert to M3s? That means you've won the customer and are now delivering that value. Measuring through which use cases resonate, how customers want to use your solution, and the success they're getting from it — it connects the whole go-to-market team. 06:54 Pim Roelofsen: Yeah, absolutely. And so everything you're talking about there describes how, when you start measuring MEDDIC, you get a lot of clarity on what works — but also what you can do even better to create more results as a go-to-market team. If you think about the old saying: you cannot improve what you don't measure. This is absolutely it. If you're serious about MEDDIC, you want to measure it so you can constantly get better. 07:23 Andy Whyte: Yeah. And the beauty of this is that you can look at individual performance, or an individual looking at their own performance — all the way through to the team, the pod, the region, the theatre, the global scale. At any stage of the customer engagement lifecycle, you can use this common language to measure everything: value, stakeholders and process. 07:46 Pim Roelofsen: Here's to measuring MEDDIC! 07:48 Andy Whyte: Cheers!
.png?width=273&height=327&name=image%201%20(1).png)
