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Sales & Partnerships
Sales & Partnerships
Strategic Sales Framework: MEDDPICC Tempate
How to rock your sales game by breaking down MEDDPICC - Metrics, Economic Buyers, Decision Criteria, Decision Process, Paper Process, Identify Pain, Champion, and Competition
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Instruction: Update the summary based on this template below
Metrics
Metrics are all about persuading your potential client using solid figures.
- Can we concur that enhancing these aspects will save you time, boost efficiency, and increase revenue?
- If we implement these adjustments, what % progress could be observed across the factors?
- If we improved by that %, how much additional income would your business conserve or produce?
Economic buyer
Determine who can allocate funds, who possesses budget, who can CREATE on the budget, and who can authorize the agreement
Decision criteria
What are you aiming to achieve with your new solution?
If you had a dream list for your new solution, what would be on it?
Decision process
When does your customer want to go-live, and why?
What is their procurement process?
When will they be finalizing their choice?
Who are all the stakeholders, AND what are their individual/professional victories?
Paper process
(The duration that your prospect's legal process typically takes)
Do they have internal or external counsel?
Who is evaluating?
What is the level of urgency?
Has the signing process been altered?
Identify pain
Why might your prospects consider a change?
Are you aware of the reason now?
What is each function's issue with the current situation?
What would be their individual/professional triumph with the alteration?
If they don't make the change, what will happen?
Champion
Who stands to benefit the most from the change?
Who is the end-user reaping the largest advantages?
Who is actively engaging and providing all the verbal indicators in your presentations?
Competition
It's alluring to praise your own solution and speak negatively about your competitors, but avoid being caught in exaggeration
- I understand this is significant to you. How do we stack up? Have you investigated…
How to use this template for your next meeting
Want to have automatically generated meeting notes in the specific template format above? Just follow these easy steps!
Step 1: Log in / Sign up to Wudpecker’s browser app.
Step 2: Conduct your meeting with Wudpecker’s notetaker admitted in it.
Step 3: Go to the Templates section on the Wudpecker website. Select the template you want to use.
Step 4: Press the “Click here to copy” button.
Step 5: In the Wudpecker app, open the notes of the meeting that you want to use the template for.
Step 6: In the notes, click on “Re-write with custom prompt”
Step 7: Paste (Ctrl/Cmd + V) the template that you copied and press “Re-write notes”. You should see the notes in just a couple of minutes.
Why this template is useful
MEDDPICC is a powerful framework that can help you to win more deals and improve your sales outcomes. The framework is divided into eight key areas: Metrics, Economic Buyer, Decision Criteria, Decision Process, Paper Process, Identify Pain, Champion and Competition. By systematically working through each of these areas, you can gather critical information that will help you to tailor your approach, identify key decision-makers, and create a compelling case for your solution.
In the Metrics section, you understand your prospect's key performance indicators. The Economic Buyer section helps identify the person with the budget and authority to make the decision. The Decision Criteria section identifies your prospect's goals and priorities. The Decision Process section determines the timeline and key decision-makers. The Paper Process section understands the legal and procurement processes involved in the purchase.
The Identify Pain section helps identify pain points and challenges faced by your prospect. The Champion section helps identify people who can advocate for your solution within the organization. The Competition section helps understand how your solution stacks up against the competition.
Overall, the MEDDPICC framework helps sales professionals understand customers, tailor their approach, and build stronger relationships. By using this MEDDPICC template, sales reps can better understand their customers, tailor their approach to their needs, and build stronger relationships that lead to more closed deals.
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