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When the technology of email (electronic mail as it was known back then) was first introduced in 1971 the professional world forever changed.
Thanks to an individual named Ray Thomlinson, the inventor of the email, a new trajectory opened up in the professional world. Not only did interpersonal communication change, but the evergreen sales model as we once knew it experienced a revolutionary shift.
This shift opened up a world of different opportunities altogether. We already knew about cold calling, but cold emailing? Hardly anything was known about it. It was foreign territory.
When cold emailing was first introduced to the sales model because it had the phrase âcoldâ prefixed to itâpeople were quick to form negative connotations.
And rightfully so! âCold means unsolicited, right?â, it does! Unfortunately, this was the primary notion being strengthened in several sales professionalsâ minds. Which naturally led to their reluctance to try it out.
Cold emailing did entail some form of unsolicited communication. But hey, with the widespread of the internet and the access to information right at our fingertips, cold emailing molded itself into a socially correct sales model. A different one from the tired spray and pray infrastructure used in cold calling.
The very backbone of cold emailing was built on personalization.
Cold email campaigns werenât just blindly sent out to individuals that had no interest in your product or services.
Everything was carefully thought out and specifically created with a purpose for the prospect. So in a sense, cold emails helped grease the wheels to give prospects the push they already needed to resolve their pain points.
Fast forward to today, cold emailing is a booming standalone industry! Despite the advent of social media, cold emailing still manages to secure its place as an effective lead generation methodology.
In fact, 80% of people prefer to be contacted by sales representatives via email! Why you ask? Well because people are getting busier and busier! A phone call is too interruptive and a direct message on a social media platform is way too personal.
So why is cold emailing something you must invest in? Everything concerning cold emailing will be explained. By the time you reach the end of this, you will be convinced that cold emailing is indeed the way to go for your business to scale its growth.
Did you know that emails are almost 40x more effective at securing customers than social media? With their highly personalized nature, itâs evident prospects everywhere are responding to this form of communication.
At this point, you are probably wondering why an unsolicited email with a cold pitch is effective. Let us understand the significance cold emails hold in the professional space.
1. Cold emails reach users where they spend most of their time, their inboxes. As a business professional, browsing through your inbox is the core of your day. Most folks are highly engaged with their inbox daily!
2. The biggest appeal cold emails have are their scalable nature. There are only so many doors you can knock on and so many cold calls you can make in a day.
3. With cold emails, you are able to reach a large audience with crafty personalized content all at the push of a button. So long as you have a valid email address, you are able to contact various prospects at once.
4. Cold emails offer huge returns on investment (ROI) as they donât require huge sums of funds to begin with! According to HubSpot, you can generate $42 for every $1 spent in your cold email outreachâgiving you an ROI of up to 4200%.
5. We are all aware of the significance networking has in the business world. Networking helps you expand your network, grow your contacts, build relationships, bring in more opportunities and help gain valuable insights.
A cold networking email is an excellent way to reach out to professionals you would like to meet and add to your network. Such emails also showcase your proactive initiative which can act as a stepping stone to the other person being open to connecting.
6. If you are looking for business development opportunities, itâs highly unlikely executives will reach out to you themselves. Chasing them over the phone, and scheduling appointment after appointment can prove to be tough, not to mention tiresome.
Instead, reach out to them in the one place you know they are going to be! Their inbox! Plus, with cold emails, you can directly talk to them in a personalized way that resonates with them. Brand awareness is an integral part of a successful business.
What better way to raise brand awareness than cold emailing? Every single cold email sent out acts as a brand ambassador of sorts. Even if prospects are not receptive, it is still a step made toward a potential conversion.
How? Well, if they donât require your services now, they will remember you in the future. Or even better, they could refer your offerings to someone in need of them at the current time.
So you get it, cold emailing is effective. ButâŠ.âHow is it different from email marketing?â. Yes, that is a question loads of novices have. A valid question too. The two concepts are not interchangeable nor should they be confused.
When it comes to using email as a method of communication amongst prospects, you could either go the cold emailing or email marketing route. Depending on your business needs, both methods are effective ways to sell your product.
A cold email is sending an unsolicited email to a prospect with the intention of building a mutually beneficial business relationship. Cold emailing is an outbound sales/marketing strategy, wherein you reach out to prospects directly.
A marketing email is a pre-written commercial email sent to a group of consenting subscribers. These emails aim to create brand awareness, increase conversions, and boost customer loyalty.
1. Objectives At their core, both emailing methods have different objectives. Cold emailing entails prospecting to generate brand-new leads into the sales funnel. Email marketing aims to nurture and maintain relationships with existing prospects and customers.
2. Design Cold emails are usually straightforward and presented in a simple text format. Marketing emails make use of HTML templates, brand logos, vibrant images, and graphics.
3. Recipients When you send cold emails, you conduct thorough research to find your recipients and their pain points (you choose your recipients). Whereas in email marketing, users opt-in to receive marketing emails, and they choose you.
4. Personalization:Â When marketing emails are sent out, subscribers are looking forward to the emailsâespecially since a huge percentage of them contain discounts and offers. So when they see an email starting with a simple âHello {{First Name}}â, they are excited to open it. Cold email recipients on the other hand arenât expecting an email from you in the first place. If they see the opening line âHi thereâ, they will most likely ignore or delete it. Unless a personalizing element catches their attention.
5. Sending volume:Â Cold email campaigns are typically sent out with a limited number of emails at a time. The prospects are usually segmented for better personalization, and each prospect receives around 2-9 emails (including follow-ups). Marketing emails are sent out with no limits as such, they are sent to each and every subscriber regardless of the number
Cold emailing is one of the most cost-effective ways of lead generation and sales. If you compare cold emailing to various inbound or outbound lead gen methods, you will conclude that cold emails require the least amount of investment.
To better explain this, let us compare cold emailing to pay-per-click ads (another outbound lead generation method). As the name suggests, the advertiser is charged a fee each time someone clicks on their ad. Pay-per-click ads also require specialized technical knowledge for you to see lucrative results.
Cold emails in comparison hardly require any investment, and the ROI is exponential! If you recall, we mentioned previously that for every $1 spent you can generate $42 as an ROI.
Cold emailing when done effectively and with the right strategies in place can be a great way for businesses to reach prospects and bring in revenue.
Also, the majority of prospects spend a considerable amount of time sifting through their inboxes. A survey conducted by Adobe found that Americans check their personal email at least two hours a day.
If you leverage cold emails on a consistent basis, your business will be able to get in front of your ideal customers and seek the results you sought after.
Much like any other lead generation strategy, with cold emailing, you will experience a certain level of trial and error. Using A/B testing, businesses can tweak their cold outreach strategy for better results quickly. And because of its low cost, there isnât much of a loss if all your efforts go in vain.
With advanced analytics also available at your fingertips, you can understand the inner workings of your campaign. Ultimately, you scale your outreach with improved conversations that build brand awareness, a widened reach, and high conversion rates.
The table and graph below highlight the scalable nature of cold emails, and how you can use them to generate repeat business.
Unlike other growth models, cold emails are highly scalable â which means you can grow and expand revenue by increasing the volume of emails without needing to increase your resources or cost.
Another magical thing about the cold email growth model is its repeatability. You produce the same results every time you send cold emails with the same practices you follow
If you follow all the correct steps and strategies required for successful cold outreach, then you will see results in no time. Cold emails arenât rocket science!
Keep reading this guide to become a cold emailing expert and start enjoying your newfound success!
Keep reading this guide to become a cold emailing expert and start enjoying your newfound success!
