10x10x10 Rule in Sales
In the days of cold calls and telemarketers there emerged a standard called the 10x10x10 Rule of Sales. It very basically states that for every ten calls you make, you should have one meaningful conversation, and for every ten meaningful conversations you should achieve one sale. If we break that out, for every one hundred calls, you should achieve one sale. This rule is by no means exact, but it is a good place to set minimum expectations, and has been used across a variety of industries. For every ten auditions an actor should get one callback, for every ten callbacks they should land one part. For every ten social media posts one should be a high performer, for every ten high performers, one should set a new single post record. For the purposes of your small business every ten site visits should result in one inquiry, and every ten inquiries should result in one sale. As I said before, this rule is far from perfect but it is a good benchmark for us to evaluate what success looks like.
For the purposes of this blog let’s assume that your organization, follow up, and sales pitch during an inquiry are legendary. By the time most of my clients get to me, they already have a strong foundation in these regards. Some of them though are heavy outliers from the 10x10x10 and you may be too so let’s discuss why.
Low Inquiries:
One of my clients has a decent amount of site visits, a very low inquiry rate, but a very high sale rate. Roughly, for every fifty visits she gets one inquiry, but she closes right at fifty percent of her inquiries. So for every hundred visits she gets two inquiries and closes one of them. This creative has really put herself into a niche market (by choice) so when she gets an inquiry it is typically the exact kind of lead that she wants to work with, and she is usually the perfect solution for them so her close rate is much higher.
Low Close Rate:
Another of my clients has the exact opposite scenario. He gets an inquiry for roughly every five visits, but they’re not always the strongest inquiries and he tends to close between one in fifteen and one in twenty. So for every hundred visits he closes slightly better than one sale. He appeals to a very wide audience, has moderate pricing, and so his client base is more diverse, but that also means he has more “shoppers”.
Low Site Visits:
This is the starting point of all of my clients. Some of them come to me with a decent amount of site traffic, but in their view it’s low, or it doesn’t provide them with their definition of success. Whether your numbers follow closely to the 10x10x10 rule, or they would be classified as an outlier, site visits are the first step to closing more sales. So whether you are tired of the Instagram grind, or just want to take your business to the next level, lets set up a free consultation and see how I can help you achieve your goals.
Bonus Tips:
Optimize your website for conversions: Ensure that your website is user-friendly, easy to navigate, and contains all the necessary information that potential customers need to make a decision. Use clear calls-to-action (CTAs) to encourage visitors to take action.
Provide excellent customer service: Respond promptly to inquiries, provide detailed answers to questions, and be proactive in addressing concerns. This will help to build trust and credibility with potential customers.
Use multiple communication channels: Offer various ways for potential customers to reach out to you, such as email, live chat, or phone. This will make it easier for them to get in touch and increase the likelihood of a consultation.
Follow up with leads: Don't be afraid to follow up with potential customers who have shown interest in your products or services. A simple email or phone call can go a long way in nurturing leads and building relationships.