Expert's Take: Do Cold Emails Work?

It's no secret I love cold email. I mean, that's what Findymail was built for. And as a bonafide cold email proponent, I can't help but marvel at how the landscape is constantly evolving.

But there's one question that never seems to fade away: do cold emails still work? And I always want to scream and shout from the mountaintops, "Hell yeah, cold email STILL works!"

Of course, I don’t expect you to just take my word as gospel.

So in this article, I'm going to delve into the reasons why cold email continues to reign supreme in sales. And I’ll sprinkle some tips and tricks here and there so you can make sure you’re doing it right.

Do Cold Emails Work? The Stats

Let's take a look at the cold hard numbers behind cold email:

1) Cold Email Has a 10% Higher Open Rate than Opt-in Marketing

On average, cold email boasts a 27% open rate, while the general open rate for opt-in marketing strategies is a mere 17%.

That's a whopping 10% difference.

And you can boost it even more with the right approach and tactics. For example, if you want to skyrocket your click-through rates, consider using segmented campaigns. This can have the power to take your CTR over 100%.

2) Over 80% of Buyers Accept Sales Meetings via Cold Email, and 77% Respond Favorably

Now, this stat is like music to my email-loving ears.

80% of buyers willingly accept sales meetings through cold emails, and a staggering 77% actually respond favorably.

This shows that buyers are receptive to your solution, provided you craft a winning cold email that clearly showcases the value you can provide.

So, ditch the generic sales pitches and get creative with your approach. I’m talking personalization, using video prospecting, or, heck, even throwing an emoji or two in your copy to give things some flavor!

3) Personalized Emails Get Opened 50% More

It's one of the most powerful aspects of cold email marketing. Let’s take a look at what the B2B video conference facilitator, Lifesize, did when they worked with Adobe to drive sign-ups during the pandemic.

With personalized messaging, they were able to hit a 57% open rate and 82% CTR.

Ultimately, Adobe saw a YoY revenue increase of around 30%.

They were able to connect with high-quality, high-value leads to establish a strong rapport and generate favorable responses to their outreach campaign.

4) Email Marketing Delivers a $42-to-$1 ROI

For every dollar you invest in email marketing, you get an amazing $42 in return. Let me hear you say, “Cha-ching!”

But if you really want to crank up that ROI to the max, you need to follow up with your leads.

Sending 9-16 emails a month can boost that ratio up to an incredible 46:1. That’s why I always say, “Don’t give up; follow up.”

If you want to learn more about the art of following up, check out my other article, where I dive deep into ensuring you’re not leaving money on the table.

5) Nearly 6 Out of 10 Consumers Say Email Marketing Impacts Buying Decisions

When done right, email marketing can be quite persuasive.

Around 59% of people admit that it influences their purchasing behavior. On top of that, about 50% of people buy something once a month thanks to email marketing, while an additional 24% make several purchases. And hey, 3% of the super enthusiastic bunch even make purchases every single week!

Now, I know this stat is more B2C-focused, but it's not hard to see how it translates over to the B2B world.

After all, people are people, whether they're buying gadgets or enterprise software.

How to Do Cold Email Right in 2023

Of course, if you want to reap the benefits of cold email, you've got to approach it with finesse. Lucky for you, I've already written the ultimate guide that goes into the anatomy of a killer cold email, complete with examples and templates.

So, I won't repeat all of that here, but I'll lay out some more pro tips to help you level up your cold email game:

Create a Targeted Email List

Picture your email list as the lynchpin to your entire outreach campaign. It's not just about having a bunch of email addresses; it's about honing in on your Ideal Customer Profile (ICP) and crafting Buyer Personas.

Once you have that foundation, it's time to get your segmentation game on. Different segments have different needs and pain points, so your cold email needs to be targeted to each specific ICP.

Close Things with a Question?

No, that's not a typo! When wrapping up your emails, avoid ending with vague phrases like "Let me know if that works."

Instead, finish strong with a compelling Yes or No question. For instance, try something like, "Is this something that's relevant to your company?"

Ending with a question gives your recipient a clear call to action and encourages them to respond.

Think about it – when you ask a question, you're inviting a response. This approach is more engaging and leads to higher response rates. Plus, it shows that you genuinely value their input and are interested in starting a dialogue.

Figure out Your Best Times

Just like timing is crucial in comedy, it's equally vital in cold email outreach. But here's the thing – there's no one-size-fits-all answer to the best time to send your B2B emails.

Some professionals swear by Tuesday at 10 AM, while others swear by Thursday at 2 PM.

So what's the secret sauce? Test, test, and test some more! Experiment with different sending times and track your results.

Take advantage of email outreach tools that allow you to schedule your emails at different times and days. Divide your email list into segments and send your emails at different times to each segment.

Analyze the open and response rates for each campaign and keep refining your approach.

Over time, you'll uncover the golden hour for your audience, and your open rates will thank you!

Don't Add Attachments

Attachments in cold emails? Trust me; you want to avoid that like a Monday morning meeting. Most people won't download random files from strangers – it just looks sketchy.

Plus, your initial email is all about gauging interest and making that crucial first contact.

So keep it simple and straightforward. Save those attachments for later stages of the conversation when trust has been established.

Another point to consider is that attachments could get you hit by spam filters and hurt your deliverability rate. So I just say: avoid them altogether.

Understand, Track, Measure, and Optimize Your Campaign

Data is your best friend in the world of cold email. Set clear Key Performance Indicators (KPIs) to track your progress. Keep a close eye on your open and response rates, but don't stop there – dive into the nitty-gritty with conversions, bounce rates, and more.

Let's break down some essential metrics you should be monitoring:

Open Rate: This tells you how many people opened your email. It gives you a sense of how compelling your subject lines are and how well your emails are resonating with your audience.
Response Rate: This measures how many recipients actually responded to your cold email and relates to engagement and interest.
Conversion Rate: This tells you how many recipients took the desired action you outlined in your email. For example, if you wanted them to schedule a meeting, the conversion rate shows how many did just that.
Bounce Rate: This indicates how many of your emails didn't reach the recipients' inboxes. High bounce rates could signal that your email list needs cleaning or that your email domain is facing deliverability issues.

To make life easier, rely on CRMs and cold outreach platforms. They can help you keep everything organized and automate tasks like follow-ups. Plus, these tools often come with built-in analytics features that provide in-depth insights into your cold email campaign performance.

Cold Email Is Here to Stay!

With higher open rates, receptive buyers, and the incredible power of personalization, it's safe to say that cold email is here to stay in 2023 and beyond. But if you want to fully maximize its potential, there’s one thing you need for sure – valid email addresses.

That's where Findymail comes in – Findymail ensures you hit the mark by providing verified email addresses that eliminate the frustration of dealing with outdated contacts.

Say goodbye to bounced emails and missed opportunities. With Findymail, you can focus on crafting the perfect pitch, sourcing leads, and other strategic tasks.