Mornin’ Sultans of SaaS! Welcome to Closed Lost! 📣

In every issue, we break down real stories, killer tactics, and all the intel a b2b sales pro needs to know.

Why Your Sales Framework Sucks

In this recurring section we’re gonna dissect the frameworks that make us all wanna rip our hair out.

Today, we’re talking MEDDIC—the sales framework that's as outdated as that CRM you’re plugging this crap into.

MEDDIC is yet another tired acronym that stands for…

• Metrics 📊

• Economic Buyer 💵

• Decision Criteria 🚦

• Decision Process 📜

• Identify Pain 🔎

• Champion 👑

Confusing? That’s because it is. Let’s break down why it's a one-way ticket to Sales Purgatory. 🙄

What Even is MEDDIC?

Once upon a time, MEDDIC was the golden child of B2B sales, especially for Enterprise. It’s got these six elements you’re supposed to dig into for every sales opportunity. The goal? Making sure you’re not just throwing pitches blindfolded. But let's be real—Sales isn't a kid's birthday party game.

Confusion City, Population: You

First up, you’ve got Metrics and Economic Buyer. Cool, numbers are awesome, especially when they come with dollar signs 💰

But in the heat of the battle, are you really going to take a timeout to locate who holds the purse strings and how to align the metrics to 'em? Over a long sales cycle it’s like asking Marketing to stick to their budget.

Decision Overkill

Then there’s Decision Criteria and Decision Process. Look, if you need a map, compass, and a Sherpa to guide you through your sales journey, you're not scaling Everest—you're lost, buddy. Time's ticking and ain't nobody got the patience for your 20 questions game. 🕰️

The Pain Game

Now let's talk Identify Pain. MEDDIC wants you to go full therapist on your prospect. Ask about their pains, their fears, and maybe their childhood while you’re at it. Here's the newsflash—prospects want solutions, not a psychology session.

Champion? More Like Chump-ion

Last but not least, the Champion. MEDDIC says, find that one person who will be your advocate within the company. Sounds a lot like putting all your eggs in one basket, doesn’t it? When that champion leaves or gets sidetracked, your deal's dead, man. DEAD. 🪦

Obsolete Much?

Now let's throw in the harsh reality—MEDDIC was born in a time when sales folks wore suits and faxed contracts.

It’s rigid, complex, and, let’s face it, a bit snobbish. Sales have evolved, baby! We’re in the era of conversational sales, LinkedIn DMs, and quick closes. No room for the prehistoric stuff. 🦖

PLG vs. Sales-led Growth: Threat or Paycheck?

🛎️ Ladies and Gentlemen! 🛎️

Gather 'round as we introduce the ultimate showdown between our two heavy-hitting growth strategies!

🥊 Introducing First: The People's Champ, Product-led Growth (PLG)! 🥊

• Nickname: "Silent Swagger"

• Champions: Shopify, Zoom.

• Style: Let the product dazzle! Think Dropbox vibes.

• Strengths: Speedy scalability, with less GTM overhead.

• Tactics: Seamless trials, killer UX, and quick value realization.

• Stats to Watch:

  • Activation Rate: How many are vibing with your product?

  • User Engagement: Are they hooked?

  • Conversion Rate: From tire-kickers to buyers.

  • Retention Rate: Stickiness level.

  • NPS: Would they shout out your name in a crowd?

  • Time to Value: From "Huh?" to "Hell yes!" in record time.

🥊 And in the Opposite Corner: The Seasoned Pro, Sales-led Growth! 🥊

• Nickname: "Pipeline Punisher"

• Titans: Salesforce, ServiceNow.

• Style: Traditional, with sales squads leading the charge.

• Strengths: Built for intricate products that demand a white-glove touch.

• Tactics: A robust sales army, sharp market insights, and tailor-made pitches.

• Metrics on the Radar:

  • ARR: Recurring Ka-ching!

  • CAC: Price tag for wooing a customer.

  • CLV: What's a customer's love worth over time?

  • Conversion rate: Lead to deal ratio.

  • Average deal size: Size matters.

  • Sales velocity: From "Hey" to "Pay" in...?

How it Changes the Game for Enterprise Sellers:

No doubt. PLG is sweeping the B2B world and this is one trend you cant ignore.

👊 Here’s how turn this existential threat into big-ass paycheck! 👊

• From Cold Calls to Consultations:

  • PLG's all about that product, right? So, prospects already know about the product before you charm 'em. Your role? More of a consultant than a salesperson. Less "Here's what we do..." and more "Here's how to maximize...".

• Big Deals, Bigger Insights:

  • PLG often means users get hands-on with freemium versions. What's that spell for you? DATA! You get insights on how they use the product. That's gold for crafting pitches. Who knew data could be so...sexy?

• Qualification, Reimagined:

  • The days of "Do you have budget?" could be fewer. PLG brings prospects that are already interested. You're diving deeper, finding those enterprise whales who want more than just the basics.

• Relationships Get Real:

  • PLG = users love the product. For enterprise sellers? It's not just about selling anymore. It's about expanding relationships, ensuring upsells, and (our fave) renewals!

• Tailor-made Pitches:

  • With PLG, customization is king. No more generic pitches. It's all about crafting a storyline tailored to the client's unique experience with the product. Think bespoke suits but for deals!

• Education Never Ends:

  • With constant product updates and a user base that's always evolving, get ready to hit those (virtual) books. Staying updated is the name of the game.

• Sales & Product Teams, BFFs:

  • Remember those days when the Product team seemed like they were from Mars? With PLG, you're joining hands and collaborating more than ever.

TL;DR

Hit a “PLG” roadblock on your sales superhighway? 🛣️

At first glance, PLG's shiny new car feels like it's running on rocket fuel with those pre-qual leads and seemingly low-hanging deals. But pump the brakes! 🚫🚗

That Freemium fast lane? Might just lead to smaller pit stops (read: deal sizes). And if you thought you were the GPS guiding your clients? Think again! The product's already revving up the conversation, leaving you in the rear-view. Plus, good luck figuring out who's just taking a joyride and who's in for the long haul.

It might seem like PLG's waving the checkered flag for the quick-deal racers and throwing a wrench in your enterprise engine, but it's not a drag race.

Gear up, adapt, and own that track! 🏎️🏁🔥

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