Go To Market as we currently know it is broken. Not that teams are doing anything wrong, but they’re completely siloed by language and can’t work together cohesively. Sales, Marketing, Customer Success, you name it– everybody has a different way of talking about value, stakeholders and process. Without a common language, there is no united way to position, sell or deliver value to customers.
That’s why we built MEDDICC Value and the GTM Triangle. On Thursday 21st November, MEDDICC CEO Andy Whyte held a webinar giving a sneak peek into the all new MEDDICC Value program.
MEDDICC Value is a value framework that builds on your existing processes. It uses MEDDPICC as a common language to talk about value for the whole GTM team across the full customer lifecycle. MEDDPICC is uniquely suited to be this common language because it neatly fits into the necessary criteria:
It must be common
It must work for every GTM team
It must work for the entire customer lifecycle
Value selling, the basis of MEDDICC Value, is one of three ways of engaging with customers.
Product selling tends to suit the users. It’s typically competition focused, talking about features and benefits. The most selling involved is by giving a demo of the product.
ROI selling typically suits the owner. It is performance focused, and often mistaken for value selling. The approach is return led, and the way it’s positioned is with an ROI calculator, sold with an ROI business case. It’s good, but you can do better.
Value selling tends to suit the Economic Buyer, and honestly the owner too. It’s customer focused. As a form of selling, it’s consultative, and the hardest to do. It’s also the best, because it positions all around how your solution helps customers, and delivering involves setting goals to achieve together.
Value selling best attaches to the different kinds of pain: economic, efficiency, and risk related. While different solutions may solve the same pain, value selling is where you can make a real difference and cinch the deal.
But why is value selling hard?
Skill gap - You need to know the product and the industry inside and out
Fear of change - Companies that are successful in the way they sell now don’t see a reason to change (until it’s too late)
Lacking confidence - if you don’t think you can sell this way, you won’t be able to
Short-term focus - if you rush through a deal, you run into a challenge when the value isn't realized
No GTM support = no data to talk about the value you provide
No value framework = no way of talking about it
MEDDICC Value and the GTM triangle keep the customer right at the center, surrounding them with value at every point as you take them from M1s to M2s to M3s.
An M1 is a value story based on a use-case with a previous customer. It talks about the PAIN without your solution, the GAIN with your solution, the METRICS used to measure the delta, the DECISION CRITERIA required to replicate it, and the STAKEHOLDERS involved.
An M2 is a personalized value story about your customer. It takes the hypothesized value of the M1 and tailors it specifically to your customer.
An M3 is a value goal, focused on delivering value to the customer. It takes the proposed value and sets it as something for you and the customer to work toward achieving together.
What’s important to consider is that M1s, M2s, M3s are use-case based. You might have delivered multiple kinds of value to one customer, but these just talk to one specific element.
With MEDDIC, you can build an M1 story about how your solution delivered value to a customer so you can explain that value to your prospects. Everyone in the GTM team can benefit from M1s; SDRs can use them to tailor their outreach, product teams can use them to understand which features/elements are relevant to customers.
M2s can be a huge level up because they help solve the discovery paradox: where customers want to know what you can do for them without having to answer any questions. We know that customers hate blind pitching, being interrogated, or any assumptions being made about them. We also know that they love when you use research to be relevant, tell them stories and reference sell, all through conversation.
That is where Value selling comes in.
MEDDPICC and MEDDICC Value creates the world’s best handover, as M2s become M3s, which, when achieved, become M1s again.
The full MEDDICC Value program will be available as part of MEDDICC Membership soon. In the meantime, you can rewatch the webinar here.