If done correctly, cold email can generate millions in revenue for your business without any expense, in as short a period of time as your sales cycle allows. If your product is great and your sales process is flawless, you need to be running cold campaigns en masse. ASAP. Here’s why:
When people consider the major marketing channels for lead-gen, cold email is often left out; the pros in many industries either consider cold email an outdated tactic, or a part of sales. They’re completely incorrect, a mass cold email, regardless of the personalization, is a marketing tactic.
- Marketing is defined by generating demand for your product from a new audience – en masse.
- Sales teams look to marketing qualify leads for sales efforts.
- Cold email at scale generates demands and qualifies leads for your sales team.
It’s obvious. I’m still astonished every time a client or leads tells us how much they hate cold email or how it doesn’t work when they were actually introduced to us by a massive, automated cold email campaign. But nonetheless, the misconception remains – most B2B companies out there are wary of cold email; not the risks, persay, or the compliance issues in markets like the EU – but the lack of results. Skill in this space is limited for most marketers -there is a lot of crap being peddled.
Some of these emails being sent are actually quite funny – its crazy someone would send such an obvious marketing email, to the incorrect target. But at the end of the day, email as a channel is no joke. Take a look at our email stats from this past month:
I’ll spare you the more intimate details of our business, but safe to say 10 bookings a week for a boutique, high ticket marketing agency is more than substantial to keep the lights on 2 Park Ave.
But we’re just a service company – apply this methodology to SaaS, and you have significant development. Ultimately, email success comes down to two things; whether your audience gets the email, and whether that email produces the desired action. Let’s break them both down.
Deliverability is a judge of whether your emails actually arrive in the inbox or not. If you’re familiar with the terminology, this is most often correlated with the open rate. Email marketers who create newsletters and transactional emails pay very close attention to this. In addition to a few other factors, it affects your “reputation” in the eyes of email providers like Gmail and Outlook.
Ultimately, deliverability comes down to two things
- Your Sender (IP) Reputation (based on whether you’re labeled as spam)
- Your Engagement (# replies etc)
This is a recursive formula of course, and the two play into each other. There are a lot of changes in the way email servers detect cold emails, and things are getting more difficult. I recommend speaking to a pro in the space like our Partner and upcoming podcast guest Jesse Hernandez – he’s created a tool called Mailgenius specifically designed at that purpose, and is a total ‘genius’ when it comes to deliverability. But that’s a story for another time.
For the purposes of our conversation, it’s pretty clear what affects your quality metrics –sending a quality email. Providing value = more responses = more opens = even more responses. There are no shortcuts to getting ahead.
The lack of results many of our prospects communicate is not surprising to me; marketing agencies tend to do the bare minimum (unlike us!) – it’s written into their business model. And the fact of the matter is, its not too hard to copy a template – they are everywhere.
Am I saying marketing agencies doing leadgen and lying and sending spam? Yes, unfortunately, they are. So do not judge ROI based on that experience.
I’ll admit – I’m a bit biased. When I was working on my first company, an ed-tech platform called Eager, I had no connections in the industry. I want to get in touch with as many school administrators as possible; so I started writing out emails to them from a database I found on the internet. Literally, the first email I sent, got me a meeting that would launch the company. Here’s the template, targeting one of the nation’s largest charter school CEOs:
Now, we didn’t close that deal – but it served as the basis for several relationships to follow.
Now, I know what you’re thinking – this doesn’t count Chris, it’s just a single email you wrote to someone! INCORRECT. This was a mass email, the first in a sequence of thousands emails and hundreds of calls, dozens of closes to follow.
If you are doing it right, your emails should be personalized to the point of being indistinguishable from manual outreach. If it matches their profile exactly, it’s not a misrepresentation of your intentions – because you’re directly matching and mirroring your value.
Putting It All Together
So, you have the two formulas for email success – while that’s all I needed to demonstrate how it works, the actual implementation is more complex.
I know, it’s a lot. Luckily, you don’t have to do it alone. You Don’t Need a CMO is here; take a second and read about our comprehensive leads solution here or book a discovery call with our team to see how email can build your business.