David Weiss: Discovery - How MEDDIC Changed his life
Apr 3, 2023
auto_awesome
David Weiss, busy CEO and CRO, joins John for a tactical conversation on discovery in sales. They discuss MEDDPICC, poor sales performance in a down economy, and the lack of fundamental sales knowledge. They also talk about qualification processes, the importance of the MEDDIC framework, investing in sales content, deal velocity and health, and identifying sales champions.
The MEDDPICC discovery process can greatly improve sales performance by identifying gaps and taking necessary actions.
Champions play a vital role in influencing decisions and validating business cases, so it's important to continuously validate and engage with them.
Thorough preparation for the final presentation, including understanding the decision-making structure and empowering champions, can drive successful deals.
Deep dives
The importance of discovery in the sales process
In this podcast episode, David Weiss discusses the significance of the discovery process in sales. He shares how he was challenged by a mentor to take his sales performance to the next level by using the discovery process called Medic. The episode highlights the importance of not losing sight of the fundamentals in sales, especially in a down economy. Weiss emphasizes the need for reps to master all aspects of the sales process, including discovery, pain-based solution demos, negotiation, and building business cases. He also emphasizes the importance of having champions who have access to power and are willing to sell for you.
The misconceptions and utilization of MedPIC
MedPIC, which stands for Metrics, Economic buyer, Decision criteria, Decision process, Identify pain, and Champions, is a gap analysis checklist for sales reps. Weiss clarifies that MedPIC is not a linear sales process, but rather a tool for reps to identify gaps in their deals and take necessary actions. He explains the importance of each element in MedPIC, including metrics, aligning with executive priorities, and testing your champions. Weiss also emphasizes the need for continuous validation of your champions and paying attention to any changes in their engagement and responsiveness.
Maximizing the role of champions
Weiss defines champions as individuals who have access to power and are willing to sell for you when you're not present. He highlights the role of champions in influencing decisions and validates business cases. Weiss suggests various strategies for identifying and testing champions, such as asking questions about executive priorities, board relationships, decision-making processes, and potential objections. He also stresses the importance of maintaining an ongoing relationship with champions and monitoring any changes in their engagement and involvement.
Preparing for the final presentation
Weiss discusses the importance of preparing for the final presentation and advises reps to involve their champions in the process. He suggests understanding the decision-making structure and potential objections that may arise during the presentation. Weiss recommends doing thorough research on the organization and identifying competitor relationships and dynamics within the board. He highlights the need to empower champions by providing them with the necessary information and coaching to confidently handle objections and drive the decision-making process.
Conclusion
In this episode, David Weiss emphasizes the significance of discovery in sales and the role of champions in driving successful deals. He provides insights into the utilization of MedPIC as a tool to identify gaps in deals and take necessary actions. Weiss underscores the importance of validating champions, continuously testing their engagement, and preparing them for the final presentation. Overall, the episode offers valuable advice and strategies for enhancing the sales process and maximizing deal success.
As a coach, author, speaker, and podcaster, David Weiss is a busy man. He’s also the founder and CEO of DealDoc, and he’s the CRO of The Sales Collective, an organization that helps companies use science and data to increase revenue. In today’s episode of Make It Happen Monday, David and John have a very tactical conversation centered around discovery in sales, and David explains the MEDDPICC discovery process that changed his life forever. They also discuss what they believe is one of the major reasons for poor sales performance in a down economy: the lack of fundamental sales knowledge and techniques.
