Implementing MEDDICC on the Salesforce Platform
What businesses often struggle with when they first acquire Salesforce is defining their sales process. Often the thought is I just bought Salesforce so my sales process is Salesforce. While technically this is correct that your sales process is on Salesforce, you will need to design every component of that process on the Salesforce platform. Salesforce “out of the box” is nothing more than a list of sales stages and some basic fields that have no controls such as forcing a user to enter a certain piece of information before progressing to a certain stage. So now is when the fun starts as we are going to need to define your sales process and methodology! While we are architecting this solution it will be imperative that we think about what pieces of data we want to collect and what data we HAVE to collect in order to analyze and understand the success of the process.
As with everything here at Campfire we have our favorite methodologies that we have seen lead to success time and time again and one of those is the MEDDPICC Sales Process (also sometimes called MEDDIC or MEDDICC). Each letter in MEDDPICC represents a key element of the opportunity process and, when implemented in Salesforce, provides invaluable data to analyze about your end-to-end sales process.
M = Metrics - Identify the measurable goals and objectives that the customer wants to achieve through their purchase.
E = Economic Buyer - Determine the person or group with the authority to make purchasing decisions and understand their motivations.
D = Decision Criteria - Understand the specific factors and requirements the customer uses to evaluate potential solutions.
D = Decision Process - Map out the steps, stakeholders, and timeline involved in the customer’s decision-making process.
P = Purchasing Process - Gain insights into the internal policies and procedures the customer must follow to complete a purchase.
I = Identify Pain - Uncover the customer’s pain points and challenges, highlighting how your solution can address them effectively.
C = Champion - Identify and develop a relationship with an internal advocate who will support and promote your solution within the customer’s organization.
C = Competition - identify and understand who your competitors are and how your product is differentiated in the marketplace.
So this might sound like a lot of data to collect and a laborious process for your sales team. Luckily we have developed a simple to use salesforce flow screen component for your opportunity lighting record page to support the MEDDPICC implementation. This component allows your users to quickly input the relevant information that pertains to MEDDPICC as well as having a visual indicator to reinforce to the user how well they understand their opportunity. Now think about the possibilities when all of this data is collected in Salesforce. You can even go as far to not allow an opportunity to progress to a certain stage if a certain part of the MEDDPICC process is not fully understood. The possibilities are limitless - Get the MEDDPICC Salesforce Component now!
So what are the benefits?
By adopting the MEDDPICC mindset layered with your salesforce platform being enabled to support it you can expect common challenges often faced by even the best sales teams to be mitigated such as:
Qualification and Focus: By following the MEDDPICC framework, sales professionals can effectively qualify opportunities and focus their efforts on deals with the highest likelihood of success. This helps allocate resources efficiently and reduces time wasted on pursuing unlikely or unprofitable prospects.
Enhanced Understanding: The framework encourages sales teams to thoroughly understand the customer’s goals, decision-making process, and pain points. This deep understanding allows them to tailor their approach, positioning their solution as the ideal fit and addressing customer concerns proactively.
Stakeholder Mapping: Through the MEDDPICC process, sales professionals identify and engage with key stakeholders within the customer’s organization. This helps build relationships, establish trust, and create a network of internal champions who can advocate for their solution.
Risk Mitigation: The MEDDPICC framework emphasizes understanding the customer’s decision criteria and paper process. This enables sales teams to identify potential risks or roadblocks early on and develop strategies to mitigate them. By addressing concerns and aligning with the customer’s requirements, sales professionals can reduce obstacles to closing the deal.
Accurate Forecasting: MEDDPICC provides a systematic approach for assessing opportunities, gathering data, and tracking progress. This improves the accuracy of sales forecasting, enabling organizations to make more informed decisions, allocate resources effectively, and set realistic revenue targets.
Consistency and Collaboration: The MEDDPICC framework establishes a common language and process for sales teams, fostering collaboration and consistent practices. This allows for knowledge sharing, best practices development, and smoother handoffs between team members throughout the sales cycle.
If you have been searching for a new framework to guide your sales team and process look no further than MEDDPICC. With the custom built salesforce MEDDPICC solution offered by Campfire we can have your sales team understanding and closing deals like never before.
