Ever wonder what it takes to run a cold email campaign that actually works? Eric Nski from Growth Engine X is here to spill the beans. After sending a whopping 1.5 to 2 million cold emails in 2024, he’s gathered some serious insights. In this post, we’re diving into 25 actionable lessons that can transform your cold email strategy. From optimizing your email infrastructure to crafting killer content and leveraging AI, we’ve got you covered. Plus, we’ll explore how to target the right audience and structure your emails for maximum impact.
Optimizing Your Cold Email Infrastructure
Let’s start with the foundation: your email setup.
Keeping Inbox Volume Low
Why is keeping your inbox volume low crucial? If you send too many emails from one inbox, you’ll trigger spam filters. Think around 30 emails per inbox. Forget using platforms like HubSpot for mass cold emailing; they’ll ban you.
The solution? Use multiple domains and inboxes to scale horizontally. So, to Google, it looks like you’re only sending 30 emails. Tools like Instantly.ai can help you manage this smartly with done-for-you email setups.
Tracking Open Rates Effectively (Or Not)
Can you really trust open rates? Ever since the Apple iOS update, open rates aren’t as reliable. When someone with an Apple iPhone has their email account tied to the mail app, the open flag triggers automatically.
However, open rates can still signal whether you’re landing in the inbox. Emails in the spam folder won’t trigger the open tracker. Aim for a 40-60% open rate. If you’re below 30%, you likely have an email deliverability issue.
Custom Domain Tracking is Essential
If you’re not using custom domain tracking, turn it on now. If you already are, consider setting up more domains and inboxes. Warm them up for about three weeks before launching your campaigns.
Troubleshooting Deliverability
Struggling with deliverability? Don’t waste time on endless seed testing. Instead, look at your overall reply rate or open rate. If your reply rate is below 1% (excluding out-of-office replies), it’s time to make a change. You’ll likely need to set up new domains and rewrite your copy.
Pro Tip: Focus on the big picture. If your emails aren’t getting replies, no amount of testing will fix a bad offer or poor targeting.
Crafting Effective Cold Email Campaigns
Now, let’s talk about creating emails that resonate.
Limiting Email Sequences to Three Emails
Data shows that your best-performing email is usually the first one. After that, you’ll see diminishing returns. Sending more than three emails? You’re likely just annoying people and increasing your chances of being marked as spam.
Instead of sending endless follow-ups, reuse your target audience list. Refresh your data in tools like Clay and incorporate new learnings into your next campaign.
Reusing Your Target Audience List Regularly
How often should you reuse your target audience list? Every quarter, if not longer. Think about it: priorities and business environments change over time. The person you emailed two weeks ago might be in a completely different situation now.
Calculating Email Send Volume
How many emails should you send per day? First, find the optimal ratio of leads to positive responses. Then, calculate how many emails you need to send to reuse your list every three months.
Don’t worry, people aren’t going to remember your cold email. Focus on timing your outreach to when their business needs might have shifted.
Refining Your Targeting and List Building
Targeting is everything. Let’s get it right.
Avoiding the “Spray and Pray” Approach
Avoid the “spray and pray” approach. Just because someone is a marketing director at a bank doesn’t mean they’re a good fit. The director of marketing at a 20-person bank is different from one at a 500-person bank.
Use filters in tools like Clay to refine your targeting. Consider employee headcount, geography, job title, and even what people say is their focus.
Leveraging Clay to Build a Golden ICP
What’s a “Golden ICP?” It’s your ideal customer profile. Use Clay to waterfall data points and triggers.
For example, imagine you’re an accounting company. You might target new companies that have raised money and have a first-time CEO. With Clay, you can change your messaging based on these factors.
Example Golden ICP:
- New Company: Founded in the last 2 years
- Recently Funded: Raised money
- First-Time CEO: CEO has never held the position before
You can prioritize these signals and run enrichments accordingly.
Optimizing Email Experimentation and Channel Strategy
Let’s dive into experiments and how to reach your audience effectively.
Running Meaningful Email Experiments
Stop split-testing minor wording changes. Focus on testing real hypotheses about your market.
Instead, think about the five core offers:
- How Do You Help Them Save Time
- How Do You Help Them Make Money
- How Do You Help Them Save Money
- How Do I Help You Raise Your Status
- How Do I Help You Live Better
Test these offers against different list segments. And always test the “so what” behind each offer.
Adapting Campaigns for Small Target Addressable Markets (TAM)
Got a small TAM (less than 20,000 people)? You need a different approach.
Try omnichannel messaging: cold email, cold calling, LinkedIn, and direct mail. Instead of perfect sequencing, focus on exhausting each channel individually.
Example:
- Cold call everyone
- Cold email everyone
- LinkedIn message remaining prospects
- Direct mail to remaining prospects
Use direct mail last, since it’s the most expensive.
Capitalizing on the “Recently Joined the Company” Trigger
Targeting new hires is still effective. Send a congratulatory message and offer to help them shake up the company in their new role.
Leveraging Social Signals
Social signals are powerful. Reach out to people who recently posted on LinkedIn. Summarize their post and offer a relevant solution.
Example:
“Hey, I saw your LinkedIn post about [topic]. Have you considered [solution]?”
Also, target people engaging with content and posting about specific keywords.
Structuring Effective Email Sequences
Let’s refine your email structure.
Avoiding Excessive Follow-Ups
Don’t send multiple follow-ups as replies to the same email thread. Use a 3-5 day delay between emails. And send a third email with a completely different subject line.
Email One Framework
Use the “Why You, Why Now” framework:
- Why are you reaching out to them right now?
- Explain your offer concisely.
- Include social proof.
- Use a direct call to action (e.g., “Would you want to chat next Thursday?”).
Adding Context in Email Two
Use email two to add context that you removed from email one. Since it’s threaded, they can scroll down for more info.
Lowering Friction in Email Three
Change the call to action to lower friction. Offer a lead magnet, free audit, or other incentives.
Crafting Breakup Emails
Don’t send demanding or condescending breakup emails. Instead, use them to determine if you’re talking to the right person. Ask if there’s someone else in the company you should reach out to.
Varying Value Propositions
If your initial value propositions aren’t working, switch them up. Focus on saving time, making money, or other key benefits.
Asking “So What?”
Ask “so what?” to dig deeper into the underlying motivations. Connect your value proposition to a deeper desire.
Holding Back Content
Don’t use all your best content in email one. Save some for follow-ups to stay relevant.
Leveraging AI Effectively
Time to get smart with AI.
Using AI Thoughtfully
Use AI to replicate manual outreach efforts. Think about what you would do if you were to manually reach out to the person, then use AI to do the same.
Showing Your Work When Using AI
Cite your data sources to build trust. If you’re using SimilarWeb or Crunchbase, mention it.
Avoiding Analogies
Direct personalization is more effective than analogies. Keep your message relevant.
Mentioning Customer Case Studies
Tie case studies directly to your offer. Or include them in a PS line. Connect past successes to future opportunities.
Using AI Strategically, Not Universally
Don’t use AI to write the entire email. Focus your AI efforts on specific lines or sections. Keep static text for elements like case study mentions.
Conclusion
So, there you have it: 25 cold email lessons from sending millions of emails. Implement these strategies in your campaigns and watch your results soar. And who knows, maybe there will be a part two with 25 more lessons?
Special thanks to Eric Nski and Growth Engine X for sharing these invaluable insights.
Check out Growth Engine X for more tips on cold email.