MEDDIC: Establish a Standardized Methodology & Gain Confidence in Your Forecast
Looking for a tool that can help you establish a standardized methodology across your sales team and enable you to call your deals with confidence?
Watch the video below as 6 sales professionals share how following MEDDIC on Salesforce has enabled them to gain confidence in their forecast! Learn how they were able to adopt a common language across their entire sales organization in order to build a cohesive team.
A full transcript of this interview is also available.
iSEEit: How does iSEEit add value to your entire team?
Lesia Kalley, Acrolinx: There’s a lot of people that come together around these deals to make it happen, it’s not just the salespeople. iSEEit is a great place to bring your people around so everyone at a quick glance can see where we’re at and what’s missing. We’re going into a meeting – what critical pieces of information do we not have that we need to uncover or that we’re really weak in, we can strategize around and strengthen.
Steve Reid, Venatas: You need to have a way where you teach every salesperson to approach their own individual opportunities and then collectively, what you have is a cohesive team that operates under the same set of guidelines, using the same set of principles across every opportunity that you have within your sales pipeline.
Brendan Walsh, Mirakl: It’s been a fantastic tool for us to create that standardized terminology and also gives the entire team, not just the sales team but also how the sales engineers interact with the AEs, how the BDR teams interact with the sales and marketing teams, create champions and get access to economic buyers. Using that MEDDIC sales methodology within iSEEit which is integrated into our Salesforce platform really gives the entire organization no matter where they’re sat geographically, a standardized approach to how we think about our business today,
Lesia Kalley, Acrolinx: To hand over a customer successfully, those MEDDIC elements give my Customer Success Manager and implementation team all the information and the criteria for a successful handover. They know all of the elements that I’ve spent the last 6 to 18 months trying to uncover.
iSEEit: How has iSEEit enabled you to gain confidence in your forecast?
Rob Desmond, Quinyx: Really simply, it’s when we can pull up a dashboard or an opportunity report that has a regular green scorecard next to each one, and when you look at the close date as a first line manager, second line manager or a country manager, you know quickly where to dedicate some time.
Ian Gilbert, GuideSpark: For me as a manager or for the managers who work for me, iSEEit allows you to bring those things together and see a combination view and therefore, act on a combination of data that is about both the aggregate and overall effect that is occurring in your pipeline, and the individual points of success, failure, need for more, requirement for less, that contribute to that underlying pattern.
Alex de Mocskonyi, TrustRadius: The iSEEit Opportunity Management Tool really helps us do a sanity check on these deals. For example, if an opportunity is sitting in legal, that’s going to be a probability of 90%, which would place the opportunity in the “Commit” forecast category. What’s the iSEEit score? Let’s do a reality or a sanity check. If the iSEEit score is less than 7o%, no we’re not going to have that in “Commit”. We need to bump that back to “Best Case” or just back to “Pipeline” in general. We need to be able to call what we’re calling with confidence and iSEEit gives not just the reps, but also the sales leader the ability to call stuff with confidence.
Steve Reid, Venatas: What we’ve seen in organizations that have really embraced this idea and have done this well, is that they have seen forecast accuracy of more than 90% with maybe only a 5-7% variance between the early call and what winds up being the actual number that is delivered at the end of the quarter.
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