MEDDICC is a sales methodology that stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, Champion, and Competition. It is used by sales professionals to qualify and close complex sales deals, particularly in B2B contexts.
In the SaaS industry, MEDDICC can be used by resellers to help them effectively sell SaaS solutions to businesses. Here’s how the MEDDICC process can be applied to SaaS reselling:
- Metrics: Start by identifying the metrics that matter most to the prospect’s business. This can include metrics such as revenue growth, cost savings, customer acquisition, and retention rates.
- Economic Buyer: Determine who the economic buyer is, which is the person or team responsible for making the final decision to purchase the SaaS solution.
- Decision Criteria: Identify the decision criteria that the economic buyer will use to evaluate the SaaS solution, such as features, functionality, pricing, and support.
- Decision Process: Understand the decision-making process that the prospect will follow and the key stakeholders who will be involved in the decision-making process.
- Identify Pain: Identify the specific pain points that the prospect is experiencing and how the SaaS solution can address those pain points.
- Champion: Identify a champion within the prospect’s organization who will advocate for the SaaS solution and help navigate the decision-making process.
- Competition: Understand the competitive landscape and how the SaaS solution compares to competing solutions.
By following the MEDDICC process, SaaS resellers can better qualify prospects, tailor their messaging and solutions to the prospect’s needs, and effectively navigate the complex sales process to close more deals.
