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Are you worried about your cold email conversion rate? Is your pitch enough during cold emailing? Will the recipient respond to your cold emails?
If all the above are your thoughts, you landed at the correct spot. However, as we all know, cold emailing has become one of the best digital marketing channels. But conversions are the final step where such emails get stuck in cold emailing. We all receive almost 140-150 emails per day. And from these, 24% of emails are cold sales emails, sometimes opened and sometimes not.
Therefore, cold emailing done right can only help increase the business's revenue. In this comprehensive guide below, we will share the rules of cold emailing that give you higher conversion rates and some detailed information about cold email campaigns. The success of cold email is directly related to the conversions you get from the cold emailing campaign, as it true that almost 75% of the cold emails are opened in the first hour of sending. . There are no easy ways to get higher conversions, but still, plenty of hacks can improve your cold email conversion rates.
Cold email conversion rate is the percentage of emails that result in a regular customer or the customer that responds or buys. It is essential to track the conversion rate because it shows the effectiveness of the cold email campaign and whether it is even attractive for business-ready clients to convert into paying customers for your business.
The goal of cold emailing is to get more and more people interested in your business. Later convert those interested people into paying customers by giving them offers or deals that add value to them, and they can't refuse.
For example, if you send 100 cold emails daily and receive one response, your cold email conversion rate would be 1%.
When the campaign's performance is measured, that indeed leads to improvement in the campaign. Therefore, below mentioned are the metrics that you can follow and identify the areas where you can improve:
The cold email open rate is the percentage of successful recipients who have opened your email. The open rate alone is not enough for the success of the cold email campaign; it mainly involves two essential factors:
Clear Subject Lines: If your open rate is low, the recipient did not find the subject line attractive and catchy.
The bounce rate is the percentage that tells you how many of your cold emails got "bounced" or were not successfully delivered to the recipient. There could be several reasons behind email bouncing, but cold mail bounces are brown into two categories:
It is rightly said that the bounce rate is the best indicator to check whether your emailing list data is appropriate.
The response rate is the percentage of the emails the recipient opened up and responded to. This gives a more robust sign of intent from the recipient's side over the open rate. However, there are still two main ways to improve it:
The conversion is the percentage of the recipients who opened your email, clicked through it, and either signed up for your business or made the purchase. This is the most substantial measure that makes your campaign successful. To make this conversion rate better, ensure to add the below two things in your cold emails:
We all know that if done right, then cold emailing will only give fantastic conversion rates. So let us go through some best practices to follow and 2x Your Conversion Rate:
This is true that 47% of people open up emails based on the subject line only.
Even if your email content is flawless and you have made it concise and appropriate, the subject line is not enticing to the reader, they will not open it, and the content does not matter at that stage. So follow some tips to push up your open rate:
In your cold emailing, ensure that you show your prospects that what your company is providing them is adding value to them. Never explain the features of your business, though clarify to them what you have in your business for them if they choose to work with you.
While doing cold emailing, ensure that your emails match the needs of your prospects. So you have to be relevant to the requirements and interests of your recipients in the email body.
Once you have got your prospects to open your mail and read it, the last task is to get their response. This can be done by giving them clear instructions in the form of CTAs, that tell them how you expect them to respond to your cold emails. Because with CTAs, the prospects can understand how to proceed further in your business.
Research says 80% of sales campaigns require at least five follow-up cold emails. From the recipient's perspective, they might be busy; you might have skipped reading your email, so stay persistent and send them follow-up emails. Follow-up emails help the prospects feel you care for them and their responses. Therefore, it benefits you in building a strong relationship with them and winning their trust.
Before we get into the practical cold email marketing tips to improve the response rate, let us find out why our emails are not responding. So as per the research performed on cold emails, below are the proven top reasons why the cold email response rate tends to be so low:
The strategy you follow in your cold emailing brings a higher conversion rate. So let us move ahead and learn a few techniques or tips to embrace in your cold emailing campaigns:
Let it be us or anybody; nobody likes to receive generic emails from random people, addressing with sir, madam, or receiver. Seeing such things in your cold emails, the recipient can quickly tell about your lack of sincerity and interest in helping them. Therefore, it is said to personalize your emails before clicking on "send" is crucial. Now you must think about what you should include in a personalized email. So below are some exciting ideas that can also improve your conversion rate:
Personalized emails take more time than just standard templates using emails. However, studies show that 4%-5% more people willingly open personalized emails over generic ones.
Are you including CTAs or call-to-actions in your emails? If not, then it is the right time to start it. Because it encourages the clients to take action and get attracted to your business. CTAs are known to be kind when you try to increase your conversion rate. Simply put, a call-ti-action is like an action button in emails directing prospects to do something. So below are some of the techniques that can be used in your CTAs:
A subject line is just like the headline of any article. So it is essential to make that impressive because that is the first thing any recipient reads. Subject lines should be engaging and detailed enough to encourage the recipient to click and open them. Such clickable and catchy subject lines help almost 35% of recipients open your cold emails. So below are some Do's and Dont's you can consider while drafting your subject lines:
As we all know, almost half of people check their emails on their phones. Therefore you should create mobile-friendly email ads that can improve the conversion rates too. Follow the below ideas to do so:
Remember, for your recipient; you are a stranger. So it is essential to include your signature at the end of the email. Also, a signature does not only mean your name; including crucial details like your name, company name, contact information, social media details, and your position in the company helps a lot. This shows your transparency with the clients.
We know that making errors is a human tendency, but still, proofreading your emails for spell check and grammar check is crucial. Such errors do not leave a good impression in the eyes of the customers and can also decrease conversions.
Just saying “Hey or Thanks” looks quite unprofessional in emails. So while cold emailing, showing gratitude and appreciation leaves a good impression on the clients. Sharing gratitude in your cold emails doubles the response rates, making the client feel happy and appreciated. This way, they trust you more.
#1 Open rate statistics: The average cold email open rate is 44%.
#2 Response rate statistics: Approximately 50% of the cold emailing campaigns have a response rate of under 15%.
#3 Click-through statistics: The average cold email click-through rate is 3.67%.
#4 Follow-up statistics: A minimum of 3 follow-ups should be done in the campaign, and 55% of the follow-ups get responses.
#5 Unsubscribe rate statistics: The average unsubscribe rate is 2.17%.
#6 Bounce rate statistics: The average bounce rate of cold emails is 7.5%.
Regarding days, the research shows the below statistics for specific days. The highest responses to cold emails are received on Fridays, and the lowest are received on Saturdays.
The most crucial part of the marketing campaign plan is understanding the strategies and importance of sending cold emails to your potential clients. As we all know, cold emailing is a hard nut to crack, but if done right and its effective tips and strategies like those mentioned above can indeed lead to higher conversions and a revenue increase. The conversion rate is essential because that indicates what part of cold emailing has been working and what is not working in favor of getting regular customers for the business. So when you track the results, you can also work on the improvement areas.
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