This article continues our look at sales forecasting. It explores how utilising the MEDICAL acronym methodology can stimulate discussion and selling activity.
Application of MEDICAL
Each of the components of MEDICAL has the potential to stimulate discussion and selling activity.
For example, Decision Criteria & Process: Often, customers may not see the value in bringing structure to their decision making. The value of the purchase may not warrant it, or they may be too busy. But in the absence of some common understanding on what is most important to the customer in choosing a solution, there is risk;
- that the customer lacks or loses clarity on the problem they need to address,
- that the scope and objectives may change
- that a competitor elevates the importance of their key capabilities in the mind of the customer.
It is much better of course that we help the customer to achieve clarity on what they need from a solution. This might include helping to write a Request for Information (RFI), introducing a friendly third party to run the evaluation process or simply influencing the customer’s thought process to include requirements which we address more completely than our competition.
The purpose of visiting the topic of Decision Criteria & Process for each sales opportunity is not that we should simply note that we know them or not; rather it should:
- stimulate thought on how we influence the decision criteria in our favour
- to mitigate competitive threat, and/or
- avoid the risk of fluid or poorly defined criteria.
Each part of MEDICAL when reviewed with a manager, colleague or alone, has the potential to generate specific sales objectives and activities to improve the chance of winning – sooner and at a higher value.
Where we don’t know who the Economic Buyer is, how can we find out? When we need to understand their agenda, can we schedule a meeting with them and if so, on what basis? Should we aim to have them meet one of our existing customers? Or simply aim to run a brief phone call?
The power of a simple qualification approach like MEDICAL is that it can be ‘light-touch’ when used as a checklist for initial qualification, or for smaller transactions. Equally it offers a sound basis for the opportunity planning on larger opportunities, particularly in conjunction with other value-based selling and influence-mapping methodologies.
The importance of MEDICAL put simply is this: if you can develop your opportunity to a point where you have realistic, well thought through, favourable responses to all the questions asked within it, you WILL close the opportunity. MEDICAL merely provides a framework to focus your activities along the way.
ProAptivity specialise in the deployment of CRM solutions into small and medium size businesses. They are the Northern Ireland solutions partner for Maximizer CRM which offers both on-premise and on demand solutions with full Mobile CRM capabilities. For more information contact 028 90735630