MEDDPICC or MEDDICC?
A frequently asked question people ask when considering MEDDIC training is whether they should implement MEDDPICC with the P. The P in MEDDPICC stands for Paper Process.
Many sales teams will roll the Paper Process into the Decision Process and refer to MEDDPICC as MEDDICC.
To ascertain whether MEDDICC or MEDDPICC is the right thing for your implementation of MEDDIC comes down to how complex or critical the Paper Process is in your typical deals.
When does the Paper Process begin?
Generally, the Paper Process begins once the solution provider has been given a clear indication that they have been selected. Usually, this means that the specifications and commercial elements of the deal have been agreed upon; however, they may still be in play in some instances.
The Paper Process doesn’t tend to differ too much regardless of the state of the deal specification or commercials unless they push the deal into a new boundary of approval requirements.
The specification of the Paper Process will vary from customer to customer. However, the endpoint of the process is always the same – for the seller, it is a signed contract, and for the buyer, it is approval to release funds for the investment and approval to sign the Sellers contract.
There is a lot of cross-over between the Paper Process and the Decision Process, and in some variations of MEDDPICC, the Paper Process is rolled inside the Paper Process.
If you have seen an organization that doesn’t have a P in their MEDDIC acronym it doesn’t mean that you are not following the Paper Process as many sales organizations will roll the Paper Process into the Decision Process.
What is the process - the series of steps and stages within the Paper Process?
Who are the people - the various stakeholders within the Paper Process?
What is the timing? - what is the timing related to the milestones and deadlines of the Paper Process?
Do you have consensus? - have you confirmed the Paper Process and triangulated across stakeholders?
IS YOUR PAPERWORK COMPLICATED?
How complicated is your paperwork? Does your paperwork regularly get stuck in approval chains or multiple cycles of red-lines with legal teams?
IS YOUR SOLUTION NEW?
Is your solution often the first of its kind that your customer is buying and therefore has new areas of approval such as legal, privacy, and security that slow the deal down?
IS YOUR CHAMPION DISCONNECTED?
Do you frequently find that your Champion is having to learn about the steps and stages of the Paper Process at the same time you are?
DO YOU SELL TO LARGE ORGS?
Is the typical organization you sell to of a size where stakeholders within the Paper Process don't know each other/work together regularly?
DO UNPLANNED FOR EVENTS OCCUR?
When you analyze events that occur in the Paper Process, are they mostly expected? Or do you find yourself frequently surprised and on the back foot?
DO FORECASTED DEALS SLIP?
Have you had a deal slip recently due to an event occurring that you didn't foresee, but could have predicted if you had been more thorough in qualifying the Paper Process and stakeholders?
How did you respond to the questions above?
It sounds like you have a more complicated Paper Process, and you may have had deals slip by unforeseen events that have occurred.
I would recommend MEDDPICC for you.
It sounds like your Paper Process is pretty predictable and well understood. You are most likely familiar with the steps and stages.
I would recommend MEDDICC for you.
Tactics that Elite Sellers use in MEDDPICC
Start the Paper Process Early
Elite Sellers know that they can radically improve their average time to close deals by tackling steps within the Paper Process early.
A popular example of this tactic is to work with your Champion in order to get the customer's legal and security teams to begin evaluating the paperwork associated with your solution early.
Using a Checklist to win the Paper Process
Once you have established the steps and stages of the Paper Process an Elite tactic is to map out each of the steps. I recommend doing this visually on a whiteboard, or dashboard where all internal stakeholders can see it.
In the later stage of your month, quarter, or year-end a good tactic to hold regular standups around the Paper Process Checklist to obtain updates and agree actions.
Elements of MEDDPICC in the Paper Process:
MEDDPICC and the Metrics
Many Sellers overlook the importance of Metrics in the Paper Process as they assume the work the Metrics do is limited to the Selling stages, not the Closing stages.
This is an incorrect assumption as throughout the Paper Process your deal is likely to come across stakeholders who's approval either relies upon, or would benefit from understanding the Metrics related to the deal.
If you have quantified your value within the Metrics then you may also have a quantified return on investment that is being missed for every day the deal gets stuck in the Paper Process.
Learn more about the Metrics
MEDDPICC and the Economic Buyer
The Economic Buyer by definition is likely to have authority over the stages and stakeholders within the Paper Process. They will at the least have influence and Elite Sellers know that utilizing the Economic Buyer in the Paper Process is a key requirement to driving urgency throughout the Paper Process.
Learn more about the Economic Buyer
MEDDPICC and the Decision Criteria
A fully executed Decision Criteria should cover the economic and commercial elements required for the customer to make a decision. If deployed and leveraged correctly the Decision Criteria should help to put you on your front foot in regards to elements that the Paper Process may refer to, such as security and privacy concerns.
Elite Sellers push elements of the Paper Process that slow deals down into the Decision Criteria to tackle them head-on and to save time in the later stages.
Learn more about the Decision Criteria
MEDDPICC and the Decision Process
The Decision Process is the parent to the Paper Process and as already discussed on this page the Paper Process often rolls inside of the Decision Process.
The Decision Process in MEDDPICC specifically refers to the validation and approval stages of the vendor selection process. Once a vendor decision. has been made then the process shifts from the Decision Process to the Paper Process.
Elite Sellers focus on surfacing items that may come under the Paper Process into the Decision Process to be pro-active about obtaining approval upon them.
Learn more about the Decision Process
MEDDPICC and Implicating the Pain
Just like Metrics, many Sellers think that the work of the Pain is complete by the time they get to the Paper Process. This is a mistake, and it can be a costly one. As your deal goes through the steps and stages of the Paper Process it is likely that it will come across the desk of stakeholders who may challenge your solution. They may not see the need for your solution. Having the Pain clearly attached to every engagement is a critical way of keeping hearts and minds focused on the Pain your solution will help solve.
Learn more about Implicating the Pain
MEDDPICC and the Champion
No Seller can tackle the Paper Process alone; they need the support of their Champion to map out each step and go into bat for the seller if any unexpected issues arise or your deal needs prioritizing with other stakeholders.
As uncomfortable as it may become to press your Champion for confirmation and updates for each stage, it is required. Your Champion is likely to ease your pressures by telling you they have it all in hand, but easing up on thoroughly working through each stage is the opposite of what you should do.
For each stakeholder in the Paper Process, you want to ensure your Champion has confirmed that they are briefed and available to fulfill their commitments to the timeframes which have been committed.
Learn more about the Champion
Questions to ask your Champion
As discussed, your Champion is key in helping you navigate the Paper Process. Good questions to ask your Champion are:
"Have you worked through these stages with a solution of similar complexity/cost before?"
"What things should we look out for?"
"What have you seen go wrong?"
"What things should we be doing to be on the front foot?"
MEDDPICC and the Competition
As you know the Competition doesn't just refer to your rival solutions, but, to any project, purchase, or initiative that could call upon the same budget or resources required for your solution.
With this in mind it is important to work with your Champion on identifying any Competition that may exist in the eyes of stakeholders in the Paper Process.
Learn more about the Competition
Does the P in MEDDPICC always stand for Paper Process?
No, it doesn’t, but it really should.
I have seen the P being used for Partners. Now, don’t get me wrong, I am a big fan of keeping an eye on Partners, but they are no replacement for the Paper Process.
My advice for Partners would be to focus on them when relevant which depends on your solution. They should become a part of your early Research and Discovery. Often you can identify technical partners your customer may use by using tools like BuiltWith, or by looking for press releases online.
Once you have uncovered partners you should embrace them within every relevant part of MEDDICC.
When it comes to selecting what is right for you, modern sales organization’s rarely select MEDDIC, the choice is usually between MEDDPICC and MEDDICC.
MEDDIC - THE BOOK
AVAILABLE FROM 2ND DECEMBER
Although the book is named 'MEDDICC' it covers MEDDPICC in its entirety.
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