What Other Metrics Can You Track to Identify Areas for Improvement?
This metric tracks whether or not your cold email was successfully delivered. There are two reasons why your email might go undelivered. Either your recipient’s inbox is too full to receive your email (a soft bounce) or you’re sending to an email address that doesn’t exist (a hard bounce). This indicates how accurate and reliable your email list data is.
Another related factor is your email deliverability. While you must make sure your prospects can get your email, you don’t want to affect your email deliverability to your current customers. Businesses may decide to purchase multiple domains to send emails from for this reason.
Open rate — measuring the percentage of recipients who opened your email — can be a productive indicator of how your subject lines or the timing of your emails are faring.
A much more reliable indicator of intent than the open rate, it refers to the number of recipients who opened your email and replied.
Here are a few final tips on how to improve these metrics and craft an optimal outbound strategy:
Unique, compelling, and personalized cold email copy is an absolute must for sparking curiosity and ensuring your message hits the spot.
While there are several effective cold email templates you can choose from, an outstanding general rule of thumb is to make it crystal clear, to the point, non-spammy, and hyper-personalized. Include an introduction, a reason for getting in touch, your value proposition, the offer, and a precise call to action that crystalizes what you want your prospect to do.
Create a killer subject line. Keep it between 1-5 words that summarize your intention and short enough to be read on your prospect’s phone. According to research, the strength of email subject lines determines almost 50% of the time whether the email will be opened or marked as spam.
The best subject lines evoke a strong sense of urgency by using active language and hooking the reader with creative, informative content.
A/B Test Emails
Figuring out what’s working and what’s not means tracking these metrics and testing different variations to see what leads to higher open, reply, and conversion rates.
Test all of your email variables like subject lines, body copy, CTAs, personalization, and timing with A/B testing. This will help you develop valuable insights on how each affects your results before settling on a winning formula that generates you most leads.
While the last thing you want is to come across as too salesy during your first contact, a common mistake is giving up and overlooking the need to send follow-up emails. Given that it takes a minimum of five follow-ups on average after the first contact before a prospect converts, schedule a follow-up email as soon as you hit send.
The Bottom Line
When executed properly, cold outreach can be an effective strategy for reaching out to prospective customers and turning prospects into sales. The metrics you track will allow you to measure the performance of your business in greater detail and thus improve it, driving revenue, savings, and ROI.
Sales teams should follow the tips outlined here and use the research tools at their fingertips to transform their outreach with firmly grounded data insights. Hope these tips help your team succeed at cold outreach!
Jenna Bunnell is the Senior Manager for Content Marketing at Dialpad, an AI-incorporated cloud-hosted unified communications system with cloud PBX solutions that provides valuable call details for business owners and sales representatives. She is driven and passionate about communicating a brand’s design sensibility and visualizing how content can be presented in creative and comprehensive ways.