After yesterday’s post on The Success Plan Google Doc for Sales, Landon mentioned I should take a look at the MEDDICC forecasting methodology discussed in the post Control, or Be Controlled: Sales Forecasting Done Right. Like a more advanced version of BANT, MEDDICC is an an acronym for seven characteristics to evaluate:
- Metrics – ROI and/or business case that proves the value of the solution.
- Economic Buyer – The person who makes the economic decision to buy the solution.
- Decision Criteria – The requirements and specifications to make a decision.
- Decision Process – The process to find, review, and choose a solution.
- Identify Pain – The existing business problem that needs to be solved in the timeframe.
- Champion – The internal person with power and influence.
- Competition – The other competitors in the opportunity and how they stack up.
Looking to improve sales forecasting and predictability in the sales department? Implement a system like MEDDICC.
What else? What are some more thoughts on the MEDDICC sales forecasting methodology?
Bonus: Here’s a great video explaining MEDDICC.