MEDDIC feeds into your entire organization. On today's MEDDIC Mondays, we will outline just a few ways the Marketing Department can leverage each aspect of MEDDIC.
METRIC - Remembering that a Metric is a dollar value bound by time, the Metric is a great way to get the attention of potential decision-makers within your target market. Executives are always looking at outcomes, especially financial outcomes. Having a sound library of Metrics that your solution has delivered to your current customers will help establish credibility and ROI for your organization's solution.
ECONOMIC BUYER - The best way to market to your audience is to understand the personas within the buyer's journey. Each persona has different needs. As you look across all your organization's opportunities and accounts, you should be able to look at each Economic Buyer to gain better insight into what title(s) is the most common for your solution and target your marketing toward that persona.
DECISION CRITERIA - Influencing your customer's decision criteria to focus and align with the strengths and differentiation of your solution dramatically increases your odds of winning the deal. Marketing can help develop examples of Decision Criteria that are worded so that it highlights your organization's strengths and differentiation in a manner that makes it a hard requirement.
DECISION PROCESS - Marketing provides a ton of material that Sales can use during the sales process. By understanding your customer's Decision Process, marketing can take a holistic look at the decision process, find commonalities among the customers and then provide very specific material that empowers sellers to help the buyer during that portion of the decision process. For example, suppose part of the process is to submit security documentation to a security committee. In that case, I have seen many organizations provide a "Trust Center" landing page that provides prospects' security committees with a one-stop center for all potential security-related questions.
IDENTIFY PAIN - Pain is why organizations start looking for a solution. Understanding the common pain that causes prospects to reach out to your organization will help guide the marketing department to know how to manage best their SEO strategy, where to invest in paid-for advertisements, and how to position the solution to attract the largest, most qualified audience.
CHAMPION - A Champion is a person within the organization that sells on your behalf. This is another example of understanding the persona (the Champion) and materials that marketing can produce to help arm them to sell in the room when sales are not present. Examples include demo vignettes, one-pagers, previous call recordings, or a buyer's center containing all the necessary assets.
MEDDIC is a power framework that can be leveraged across the organization. When Sales & Marketing Team up to leverage MEDDIC, the results are clear; Win More Deals! Next week we will review how the Product Management group can leverage MEDDIC.
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