“So learn your competition, build competitive sides, and stances against them.” – David Weiss in today’s Tip 657
How about you? Do you know what makes you different from all of your competitors?
Join the conversation below and check out all the links!
David Weiss on LinkedIn
David Weiss: MEDDPICC
639. MEDDPICC Series Kickoff – David Weiss
641: MEDDPICC Series (Metrics)
643: MEDDPICC Series (Economic Buyer)
646: MEDDPICC Series (Decision Process)
648: MEDDPICC Series (Decision Criteria)
650: MEDDPICC Series (Paper Process)
653: MEDDPICC Series (Identify Pain)
655: MEDDPICC Series (Champion)
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today Outreach’s David Weiss is back to finish his 9 part series on MEDDPICC. Here he is:
David Weiss: Hello everyone out there in the Sales Success Community. This is David Weiss, and I am coming to you with the final letter of my MEDDPICC Series. And that is, Competition. So first I want everyone to say with me out there, who is ours, all of our number one competitors on pausing and pausing. Status quo, no decision, no change. It was corporate visions, Gartner, a few others, 52 to 50 something percent of deals and in no-decision. That means we spend all of our time. So half of our lives convincing people to not make a change.
So let’s solve for that first, the best way to beat no decision is with a financial business case, built through metrics. So if you have a weakness on your M, and you have not built a financial business case, and that is still in red or yellow, you have a significant risk that this will go to no-decision. So that is how you beat the status quo is with a financial business case.
The next is everyone’s different market competitors. Make sure here’s the tip, list all the competitors out. Do an exercise around what makes you different against all of those competitors. Build slides that do us versus them, pros and cons, slide to demonstrate and explain the differentiators. This should align to pain that should align to decision criteria. This should sound something like, “Hey, I know these things are important to you. Here’s how we’ll solve for them. Again, I’m a salesperson. I’m going to ask you to take my word for it, but I would dig deeper here and here and here.” So that is where landmines don’t come into play. If someone says to you, “Hey, security really important to me, totally understand. That’s a very important factor in today’s modern world. We are SOC 2. We are ISO this. We are GDPR or blah, blah, blah, blah, blah. I know our competitors sometimes struggle here or here. Please dig into them on this area.” That’s setting a landmine.
Now think about all your strengths and think about all their areas of opportunity. Make sure that you sit next to them. Not as again, outside of the table, you are being a strategic advisor. You are not bashing your competitors. You are saying they are great. We see them all the time here, but, and put them in a box. But people that care about this, this and this, like I know you do buy from us for these reasons.
Please just, I just, I’m being an advisor to you. I want to make sure you make the right decision because we all know the cost of a wrong decision. Millions of dollars in lost jobs. So I want to make sure you make the right decision. Please go talk to them about this and this. That’s setting landmines. When you do that correctly, you can sometimes stop processes right in their tracks because they will realize that either they were misled or that the things they care about most you can solve better than others. And so why talk to somebody else? Because if I can’t, you know, have good integration or I can’t have compliance where my security isn’t good or something, there’s some major differentiator that this buyer cares about. You can sometimes stop processes in their tracks and lean them in your favor.
So learn your competition, build competitive sides, and stances against them. Set landmines, always in a professional way. You are never knocking your competition. You are purely sharing fact-based information that you understand that you are asking them to go verify and check as a strategic advisor of theirs. This will help you build credibility. Never bash your competitors. They’re in business for a reason, and they make you better every day. So thank you all for listening. That is the end of the series. And as you all know, I love MEDDPICC. I’m a huge fan of it. If I can ever help you deploy it and get better at it, anything along those lines, even do a deal review with MEDDPICC let me know. I’m happy to help. Thanks for listening everybody.
Scott Ingram: Since David put so much work into creating this comprehensive 9 part series, we’ve gone and done a little bit of extra work as well and created a page with not only all 9 of these tips in one place, but some of the other MEDDPICC focused stories, presentations and conversations that David has done for the Sales Success Community. All you have to do is click over to top1.fm/meddpicc or you can also find a link at DailySales.Tips/657
Oh, and I’ve created a Spotify playlist with all of these tips as well. Just do a search for MEDDPICC. M-E-D-D-P-I-C-C
Thanks for listening, and be sure to come back tomorrow for another great sales tip!