LC053: Is cold email a good marketing strategy for startups?

launchpeer - August 8, 2018

Today’s question:

Today’s question comes from from Chris. I’ve seen advice that said I should find leads by cold emailing the founders or CEOs of companies that may be interested in our product. I’ve also heard that I could use LinkedIn to find leads. Is cold emailing the best or most used strategy?

Jake’s answer:

I honestly love the idea of doing cold advertising or emailing for any business. Whether that’s Facebook or Google ads to cold audiences or sending emails to cold audiences, I really enjoy it.

Cold Email Outreach

This is no fun and the return rate is going to be low. We’ve seen two tactics that we’ll discuss.

The first tactic is taking a quantity over quality tactic. Basically, you want to get the emails of as many people as possible and send them all the same sequence of emails and hope you get qualified leads. You aren’t personalizing anything, you are just sending out many of the same canned emails. It’s a numbers game.

The other approach is quality over quantity. In this situation, you would segment that list down and personalize the communication to them including a personalized first email in the sequence, a personalized subject line, etc.

The way I would make that decision depends on what you are selling. I generally lean on the quality over quantity because they have better engagement. You also avoid getting flagged as spam.

When it comes to cold email outreach, I generally lean on quality over quantity because they have better engagement and are more likely to close. Click To Tweet

There are some situations where you may want to send tons of emails. If your product has mass appeal or is something you can personalize the email sequence enough (all in one segment/demographic) then you might be able to get away with mass emailing.

But it’s still a numbers game. So how can you get a better open and engagement rate with less emails?

Optimize your Cold Email Outreach

Some products we’ve used that can help you optimize your emails:

Leadfuze – Allows you to find relevant people and personalize and automate email sequences. A good number of emails to send is 5-8.

GrowLabs – Similar to LeadFuze, but they are a bit less customizable.

CloseKit – If you have a list of companies you want to sell to, you can use their plugin to pull in specific people in the company and then automatically send out emails to them. Allows you to personalize at scale.

Our Approach to Cold Emails

Set aside an hour everyday to write personal emails to 10-20 prospective customers. I’m going to research them and write a highly personalized email. Then you can setup generic follow-ups in your sequence. This helps you get the most bang for your buck.

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