MEDIC is a powerful framework for sales development that helps you qualify and prioritize your prospects, align your sales process with their buying journey, and close more deals. In this article, you'll learn how to measure and improve your sales performance with MEDIC indicators, and how to use them to coach your sales reps and optimize your sales strategy.
MEDIC stands for Metrics, Economic buyer, Decision criteria, Decision process, and Champion. These are the key elements that you need to understand and influence in order to win a complex B2B sale. By using MEDIC indicators, you can assess the strength of your opportunity, identify the gaps and risks, and focus on the actions that will move the deal forward.
MEDIC is real useful for zeroing in on what matters. Think of it as your sales GPS; it won't bring you coffee, but it'll sure help you find your way to the deal-closing highway. Monitor KPIs like a quant on Wall Street ?? Evaluate process like a consultant ?? Diagnose like a med school pro ?? Implement like a startup founder ?? Course correct like a fighter pilot ???? Celebrate wins like a Super Bowl champion ??
This process emphasizes better customer qualification—in other words, determining whether or not you should expend effort getting a customer into your sales funnel.
To measure your sales performance with MEDIC indicators, you need to score each element of the framework on a scale of 0 to 5, based on the evidence and information you have gathered from your prospect. A score of 0 means you have no clue, and a score of 5 means you have a solid confirmation. For example, you can score your Metrics based on how well you have quantified the value proposition and the ROI for your prospect, or you can score your Champion based on how much influence and trust they have in the decision-making process. The total score of your opportunity is the sum of the scores of each element.
Metrics - Crunch numbers like an accounting whiz ?? Score 0-5 based on quantified ROI, value proof Executive - Assess involvement like a private investigator ??? Score 0-5 on executive buy-in and interest Decision Process - Map it out like adventure quest ??? Score 0-5 on clarity of steps and stakeholders Identified Pain - Diagnose needs like a med school pro ?? Score 0-5 based on urgency and priority of needs Champion - Rank influence like a political lobbyist ?? Score 0-5 on how much clout and sway they have Competition - Analyze threats like a chess master ?? Score 0-5 based on competitor alternatives
To improve your sales performance with MEDIC indicators, you need to use them as a guide for your sales actions and conversations. For each element, you need to define the next steps and milestones that will help you increase your score and advance the deal. For example, if your Economic buyer score is low, you need to find out who they are, how to reach them, and what are their pain points and goals. If your Decision criteria score is high, you need to reinforce your competitive advantages and address any objections or concerns. By using MEDIC indicators, you can align your sales process with your prospect's buying journey and increase your win rate.
MEDIC indicators are also a great tool for coaching your sales reps and improving their skills and performance. By reviewing their MEDIC scores regularly, you can identify their strengths and weaknesses, provide them with constructive feedback and guidance, and help them overcome any challenges or obstacles. You can also use MEDIC indicators to set clear and realistic goals and expectations, track their progress and results, and celebrate their achievements and successes.
MEDIC indicators can also help you optimize your sales strategy and resource allocation. By analyzing your MEDIC scores across your pipeline, you can prioritize your opportunities based on their potential and probability, focus your efforts and attention on the most promising and qualified ones, and avoid wasting time and money on the low-value or low-chance ones. You can also use MEDIC indicators to forecast your revenue and growth, identify the trends and patterns in your market and customer segments, and adjust your value proposition and messaging accordingly.
If you want to implement MEDIC indicators in your sales organization, you need to follow some best practices and tips. First, you need to educate and train your sales reps on the MEDIC framework and how to use it effectively. Second, you need to create a common language and a consistent scoring system that everyone understands and follows. Third, you need to integrate MEDIC indicators into your CRM and sales tools, so that you can easily capture and update the data and information. Fourth, you need to review and monitor your MEDIC scores regularly, and use them as a basis for your sales meetings, reviews, and coaching sessions. Fifth, you need to continuously evaluate and improve your MEDIC process, and solicit feedback and input from your sales reps and customers.