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What is MEDDPIC(C)?
MEDDPICC is a Sales Methodology for complex deals.
It consists of:
- Metrics – quantifiable and compelling benefits that underpin the business case and justify the investment
- Economic Buyer – the person who has the ultimate power to make decisions and authorize the spending.
- Decision Criteria – formal criteria used to compare vendors – technical requirements, vendor info and financial hurdle rates.
- Decision Process – the events and timeline that go into the validation and people involved in the approval process.
- Paper Process – the process of signing the contract, including feedback rounds and legal team involvement.
- Identify Pain – this is “the why” the prospect needs to act. The strength of the pain will determine the urgency.
- Competition – other players that are considered for this purchase.
- Champion – the key player who has the power and influence in driving the opportunity and sells internally on your behalf.