How the Right Cold Email Can Give You an Effective Conversion Rate
⏱ Reading Time: 8 minutes
Driving sales conversions through emails might be the traditional way of approaching things. But it is still one of the most effective methods out there. Many businesses have outgrown the utility of cold email marketing and it may be working well for them. On the other hand, 0thers are still betting on what it has to offer.
Cold call email statistics based on Propeller CRM’s collected data indicate an average conversion rate between the range of 15.22% to 28.46% within the same business sector. One wonders about the significance of these figures when your company is currently reaping an above-average conversion rate. The answer lies in the fact that the graph flattens over time and hence increases the need for setting realistic goals.
MailChimp data indicate that a cold email related to hobbies receives more open rates compared to discount coupons or daily deals. These analytics illustrate why custom-built benchmarking is necessary.
Eight Effective Ways of Increasing a Cold Email Conversion
Thus here we have compiled the top eight ways that can help you to increase your cold email conversions in no time efficiently.
1. Identifying Intention
For more than a decade now, marketers and sales executives have driven sales by focusing on attracting people to their website. They have set up traps for gaining their personal information and details that could help. It might have worked all these years but mainly as a passive marketing technique.
Optimizing the sales funnel is great until you find yourself just sitting and waiting for people to come while you miss out on hundreds of other prospects.
Marketers are still in denial that a website visiting by a potential client can be just one of the many intentions one could have. This is why identifying the actual intent of your customer is necessary. In that way, you can start your conversion cycle from there without losing time, opportunity, and resources alike.
Picture 1. Cold email open rate by industry
2. Evaluating the Perfect Fit
Eventually, as a marketer, you learn that all of those visitors to your website who showed the intention to purchase are not your actual customers. They will seem like your potential client but not end up as your targeted client.
Marketing begins with finding out what your target market is and building buyer personas. You cannot possibly waste time sending out a cold call email to individual buyers and wait for them to respond.
The best move on your part is to identify the segment that best fits your client’s plan and take out potential target customers from that. Cold email to potential clients will not only waste your time and efforts, but it might also not be as fruitful in the end. Determining targeted clients first guarantees that your actions are not going to complete waste.
3. Choosing the Right Communication Channel
One major mistake that sales executives and marketers make is not being able to tell who exactly requires a cold email. We have visitors and potential customers already visiting our websites, trying to connect with us through other evident channels. Then why are we persisting with cold email marketing?
So during the last decade, when digital marketing was on the rise through different platforms like social media marketing, marketers decided to take a step back and halt blasting emails. It is during those unconventional moves that the industry figured its way around choosing the right communication channel.
A communication channel can be right or wrong, depending on its profitability, and it does not necessarily have to be cold email marketing.
4. Personalizing Your Core Message
The next step is to understand that no matter which channel of communication you pick, the secret formula of its success lies in optimizing for conversions. The magic is in the craft of creating content that speaks to the customer in a personalized manner.
For instance, you can hire a personal statement writing service. It will demonstrate that when it comes to a cold email, you can write a catchy subject line and make the message relevant by personalizing it to your customer’s identity and personal details. You can address their issue on a one-on-one basis. Or you can give them an active link to find the solution through automated measures.
5. Finding the Ideal Prospect
Supposedly, you are a clothing business selling Ghost Rider Jacket. You would want to connect with other clothing brands that sell similar products to a mutual market base. It will be questionable to opt for paramedics or landscapers as your ideal prospect.
To put it simply, you would hit up only those prospective individuals or organizations, which can potentially benefit from the commodity you’re selling.
Other external factors, like demographics and interests, can help you better determine your customer preferences. The tactic is narrowing down your audience in a hassle-free way with the help of the right tools like social media platforms.
6. Mapping Out the Demands
Now that you have identified your prospective customer base, you need to know about what makes a difference for them. Many marketers feel stuck when they know who to contact but are not so sure about what to say.
The right way to begin is by checking out what your customers’ demands are. A cold email can quickly get to the bottom of customer demand by personalization and thorough data analysis. It allows you to see through conversion metrics how responsive your audience has been.
The more sensitive your clients are, the better it is working strategically for your business. Also, a cold call email may be the best option for answering detailed questions and resolving issues.
7. Get Straight to the Point
It might sound rigorous, but it is in your best interest to cut the chase and get straight to the point.
The primary reason why a cold email might be losing its charm is that marketers feel writing down the whole story of their brand, and giving context to their invitation in a single email is the right way to do it. Even though it might have worked some years ago, the method has become stale.
Considering the customers’ point of view now, nobody has time to sit back and read a lengthy, story-based email. People look for catchphrases, attractive, and relatable content that drives interest and leads to conversion automatically.
Picture 2. Your cold email should be short and direct
8. Don’t Forget to Follow Up
Lastly, one cannot emphasize enough on the importance of follow up emails. Passive marketing works against a cold email because organizations then give up on making newer efforts to attract customers. They end up waiting for responses on an already sent cold-call email.
To counter this situation, a follow up is extremely crucial to know a customer’s answer. It helps you stay consistent and maintain a relationship with your customer.
For instance, you successfully convert a potential customer into a loyal one. You are sure of the fact that he/she is here to stay. Now the effort to maintain this ongoing relationship between you and the customer is to have a follow-up way of knowing.
The right way is to go after them consistently for feedback, comments, and opinions. Try getting in touch through social media platforms and build an everlasting and more reliable relationship through other means.
What Are The Main Conversion Metrics From A Cold Email?
The right tactic is measuring performance against a set benchmark that you should achieve to ascertain optimum performance.
Therefore, fixed conversion metrics to evaluate the performance of cold emails are necessary. The following are the four main types of conversion metrics that will allow you to identify the areas of improvement.
A bounce rate is what its name suggests. It tells you a set percentage of the emails that bounced, which means that were not delivered successfully. Mainly, knowing your bounce rate is an excellent piece of information to know how good your mailing list is and how many of your recipients you would want to change.
Picture 3. A bounce rate depends on the type of your website and your industry
An open rate will tell you the percentage of the recipients that not only received your mail but also opened it.
A response or a reply rate is an estimation of the recipients that engaged with your email and responded. It happens usually through a clickable call to action.
Lastly, the conversion rate measures and analyzes the prospects that successfully came through all the points mentioned above. To put it differently, it shows how many of your potential clients received, opened, and interacted with your cold email.
In light of the information we have collected regarding cold emailing, we can establish that the technique in itself is a bit tricky. As challenging it might be, however, proper thought and resources can make it a rewarding endeavor.
Additionally, it is also necessary for assuring that the right tools are in place for better integration of the process. A system to track, measure, and improve your results with each cold email to a potential client is also vital.
Claudia Jeffrey is currently working as a Research Analyst at Assignment Assistance, the best place to get “write my essay” services. Having worked in the sales teams of many more prominent corporations, she has gained significant experience over time. She likes to share her opinions and expertise through her blogs online. Her audience mainly includes other sales analysts that share her interests.
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