MEDDIC Sales Qualification Methodology Founder Jack Napoli on How to Enable and Drive Sales Teams

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This week we had the pleasure of interviewing Jack Napoli, the ‘Godfather’ of the MEDDIC sales process:

For those of you who aren’t familiar, MEDDIC is one of the most effective sales methodologies I’ve ever come across for qualifying deals thoroughly.

In fact, Jack and MEDDIC co-creator Dick Dunkel used it while at PTC to more than triple sales from $300 million to $1 billion in just four years. Personally speaking, MEDDIC helped me increase my close rate to over 90% and increase my team’s sales 60% year on year.

Today, MEDDIC is used by fast-growing startups as well as large corporations such as EMC, RSA, BMC and more.

Check out the interview here:

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How to Overcome Every Sales Team’s Biggest Problem

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There’s no question:

Improving the effectiveness of sales teams is a top priority for sales managers everywhere.

But there’s only 24 hours in day, and a million (and one) things you have to stay on top of:

Maybe you’re facing more “No’s” than ever. Or the churn rate of your sales people is climbing higher and higher.

But you don’t have the time to deal with that, because you’re stretched to your limits hiring new reps, managing the pipe and making sure your team is closing deals and hitting their numbers.

It’s more than most managers can handle.

That’s why I teamed up with Steve Ammann, Managing Director of the Sales MEDDIC Group, to put together some action items to help sales managers overcome the number one problem facing every sales team:

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Hitting a record close rate

How to Hit a Record Close Rate – The Anatomy of a Perfect Deal

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Hitting a record close rate

In past posts I’ve asked myself:

What is it that separates the most successful sales reps from the rest? How is it that some reps can maintain a close rate of 95%, while others are grasping at straws?

And though there have been many takeaways, I feel that one of the most important is that great sales reps think not only about how to win a deal, they master the plan not to lose it.
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In other words, successful salespeople know how to stay in charge and in control of all the people, tasks and information that go into every opportunity. No matter how large the deal or how long the sales cycle.

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MEDDIC Acronyms

Can the MEDDIC Sales Process Be Improved?

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meddic sales process card

If you’ve ever worked with the MEDDIC sales process, then I’m sure you’ll never want to live without it. It’s simple and clear, focused on the fundamentals of sales and very effective.

I’ve personally had crazy growth rates of 50% and higher in times where my competitors were experiencing negative growth. However, MEDDIC only works if you and your team live it. As great as it is, it could be even more effective.

Here are some issues with MEDDIC that we’ve identified and how to address them.
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Online sales management

The 9 Best Sales Methodologies for Closing Complex Deals

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Business-process-shake-hands-with-text-no-artv2Sales methodologies are a dime a dozen these days, with each one promising unprecedented growth and revenue.

However, we all know that to successfully close large and complex deals, it’s essential for sales teams to have a more structured approach and focus on the right steps to bring deals to closure.

That’s why we’ve reviewed 9 of the best sales methodologies for closing large deals. We looked at the content, the delivery and the offerings to effectively implement the methodology in the field. (And in case you’re having trouble convincing your team to adopt a methodology, check out How to Handle Your Reps’ Objections to Your Sales Process)

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The Challenger Sale – A New Way to Drive Growth

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The Challenger Sale Book CoverAccording to The Challenger Sale, there is a class of sales reps out there that consistently outperform their peers by up to 200%. What’s their secret? How are they succeeding where other’s fail? Is there a way to mirror their success?

Ask any sales leader about the state of the sales industry today vs. ten years ago, and you’ll get a wealth of opinions:

Purchasing budgets have been slashed, and decision makers are more hesitant than ever. Deals are scarcer, and the competition is fiercer.

In other words, it’s never been this tough.

But in spite of these challenges, there are reps out there that consistently close over 200% more deals than their colleagues.

And that’s even in declining markets with declining growth.

What’s their secret? How are they succeeding where others fail?

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3 Reasons Why the MEDDIC Sales Process Works

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1. THE MEDDIC QUALIFICATION CHECKLIST

Did you ever give a thought why pilots go through rigorous checklists before they start the engines and take off? That’s right, they have to be 99.9% sure they are setup for success, as even small issues could have big impact. Once they’re airborne, there’s no option for failure.

Similar to a pilot, MEDDIC gives you a checklist for every sales stage, giving you a health check for flying a deal to closure. Just like a pilot, you’ll be able to quickly understand your chances of landing successfully, and might even consider to step back and take another plane. While the pilot saves a lot of lives, we in sales save a lot of very precious time by planning to recover early to succeed in the end and close more deals.

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MEDDIC Checklist

Your MEDDIC Sales Process Checklist

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Your MEDDIC Checklist

There’s no doubt:

MEDDIC as a sales process has helped many sales teams around the globe to achieve extraordinary results.

Statistics prove that 30%+ growth rates in saturated markets and 250%+ in start-ups are possible. In fact, many salespeople that touch MEDDIC will never again work without it.

Fast-paced companies like Workiva, MongoDB, Alfresco, Snowflake and many more have build a healthy pipeline and forecast on the fundaments of MEDDIC.

Read on to get a brief overview on this simple and lightweight qualification process.

 

Here’s the basic MEDDIC checklist:

 

MEDDIC checklist
MEDDIC
MEDDIC QualifiersExplanation
MMetricsWhat is the economic impact of the solution?
EEconomic BuyerWho has profit and loss responsibility for this?
DDecision CriteriaWhat are their technical, vendor and financial criteria?
DDecision ProcessThen what happens? Define validation and approval?
IIdentify PainWhat are their primary business objectives?
CChampionWho will sell on your behalf?

 

 

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