Categories: MEDDICC
Company leaders are moving quickly to make sure their their qualification process is set up to ensure their sales teams can execute against it and they can effectively predict the business. In our recent webinar, How MEDDICC Helps Drive Revenue Predictability, John Kaplan explored how companies are using MEDDICC today to drive revenue predictability, despite market uncertainties.
You may be able to make similar strides in your sales organization through a strategic MEDDICC sales initiative. Here are four takeaways from the recent webinar that may provide you with valuable insights on how to successfully implement MEDDICC to achieve your desired outcomes.
Driving Results With MEDDICC: Top Takeaways
1. Increase revenue by combining MEDDICC with a value-based messaging initiative:
As a sales leader, defining your best opportunity to course-correct and drive sales success next year is no simple feat. When assessing their sales organization's biggest challenges, many sales leaders often ask us, should they first pursue a sales messaging or sales qualification initiative? The truth is, one initiative complements the other — the true power of each initiative comes when they’re executed together.
Depending on your budget, even simply pursuing one initiative is a great first step toward elevating numbers. If your organization is struggling to capture new opportunities and close forecasted pipeline, you can’t go wrong by launching a sales messaging or a sales qualification initiative. Just don’t wait. Move forward with an initiative that will enable your sales organization to succeed. See how you can launch your initiative in the virtual environment to drive immediate results.
2. Enable reps to identify big business pains that indicate high-value opportunities
Having a consistent way for reps to qualify opportunities by identifying big business pains early and often in their deals is key to building and maintaining a healthy pipeline. Elite sales teams use MEDDICC to qualify opportunities in a way that ensures they’re uncovering business pain and quantifying it effectively. When MEDDICC criteria is customized to your sales organization (specifically to your company’s ideal buyer/market), you’ll equip your reps to focus on the highest-value business pains and opportunities.
Keeping reps focused on these high-value opportunities ensures they won’t waste their time and slow down pipelines, with deals they don’t belong in or were never going to happen.
3. Make MEDDICC more than a checklist:
Oftentimes, a change initiative can quickly lose steam in a sales organization simply because sales managers and reps don’t see value in it or aren’t sure how they’ll be able to execute on it. MEDDICC can easily become a compliance checklist for your sales team if you, as a sales leader, don’t set standards and help your organization see the value in the process change.
If you’re going to implement MEDDICC in your sales process make sure it sticks as more than a compliance exercise by:
- Customizing the MEDDICC criteria so it’s relevant to the conversations your sales reps are having with buyers right now
- Providing your sales team with an example of what good looks like, when it comes to executing on the criteria, so they know their role in achieving your desired outcomes
- Equipping your sales team with buyer-focused messaging that enables them to uncover key MEDDICC criteria and leverage what they’re hearing to charge a premium
- Articulating how your salespeople will benefit from creating a consistent sales qualification process using MEDDICC
4. Benefit from MEDDICC by generating cross-functional alignment:
Sales leaders are able to reap the benefits of better qualification by ensuring the MEDDICC criteria becomes a consistent language that goes beyond their sales organization. When your entire sales team and company adopts the same qualification language, you'll provide the consistency your executive team needs to have a clear view of the pipeline at any given time.
It starts by generating cross-functional alignment around your qualification criteria and ideal buyer. The consistent language should be defined, agreed upon and used by all departments that take part in the sales process including finance, marketing, product, etc. When it comes to executing MEDDICC efficiently, it’s all about alignment and accountability from top down. Organizations that commit to this type of consistency are able to achieve nearly 100% forecast accuracy, quarter after quarter.
Fast Track Your Route to Revenue Predictability & Sales Success
Head into 2021 knowing you’re on the fastest route to revenue predictability. Ensure your sales organization can repeatedly build a healthy pipeline and consistently qualify and close the highest value deals. We can help.
See how we’ve helped other companies achieve sales growth and forecast accuracy using MEDDICC and Command of the Message. Reach out to see how we can support you in driving predictable revenue growth with a similar initiative.
