Something crazy happened: after 6 months of learning, testing & running cold email campaigns full-time I started posting about it on X, LinkedIn, YT & Reddit
The amount of inbound I get asking questions / for help is insane
In pursuit of karma points, I try to give helpful replies
Now I have lots of random replies so I just picked out 10 to share
Here we go:
1. How much does a lead cost you with cold email?
Depends on the cold email infrastructure. Let’s take a real example:
You have 3 inboxes from 10 domains each. Each domain costs $12/y and each inbox costs $24/y. That’s $840. Say, you also pay for Instantly’s hyper growth package $97/m and around $15/m for email verification.
Provided you’re already at peak inbox capacity, you send out 900 emails per day. Counting with 6 days per week, that’s 5400 emails per week and around 23000 / m (not exact due to change in number of days in a month). If you’re sending a 5-sequence email, each month you can target 4600 leads.
Suppose you nail your lead list, with highly relevant emails: 70% open-rate, 4% reply rate, and 25% opportunity rate: you got yourself 46 warm leads. Factor in call booking rate (25%), show up rate (50%) and close rate (33%), and you’re at 2 new customers.
So, each month you pay $92 per new customer (ridiculously low).
2. How do you identify “hot” leads within your ICP for higher conversions?
Look for activity signals when scraping your leads:
- activity on LinkedIn
- activity on X
- being part of certain groups, communities
- relevant job postings
- relevant news
- YoY growth
- YoY decline
3. I should disable open-rate tracking, right?
Majority of cold email gurus tell you to disable open-rate tracking, since it might cause a drop in deliverability. I haven’t experienced any major effects in deliverability, but even if it did cause a slight drop, you should use open-rate tracking (in the beginning of your campaign). Here’s why:
If you set up a new campaign with new email copy, you don’t know what’ll work and what won’t. I’ve seen many accounts of people that thought they were blacklisted (because they didn’t get any replies). Turns out, their open-rate was like 30-35% due to shitty promotional first lines. Also, when you send emails to hyper-targeted small lists, you may only get a couple of replies per email variation. At that rate, differences in reply rate may not even be statistically significant to decide which works best.
One last thought for open-rate tracking: another reason why I think open-rate tracking is doable: many corporates do use open-rate tracking internally, meaning it’s not unheard of for ESP algos.
4. How to properly A/B test?
To measure what works and what doesn’t, you need to be strategic. People forget that email copy is not the only thing you can test. But first, let’s talk about copy:
I’ve seen many cases where people A/B test 2-3 completely different email bodies with different subject lines.
Sure, you’ll know which one works best, and you can continue your campaign with the winning message, but will you really know why it performed better? No. When you have a new subject line, a new first line, a new email body, and a new CTA, you don’t know what change you can attribute your success to.
Change one thing at a time: subject line, first line, email body, social proof, ps line, etc. This way you’ll know exactly how small changes affect human behavior. And don’t stop here.
You should also A/B test sending times, lead source, geography, and so on. All the little details you can set when prospecting, you can also test.
Also, if you overuse spintaxes, it’s nearly impossible to A/B test with statistically significant results.
5. Where to buy lists from?
Generally, never buy lists from anyone. Sure, you might have a trusty guy who you can buy a list from, but the majority of Fiverr and Upwork dudes are trash. They sell lists multiple times that become overused and outdated. Maybe you buy a list of 5k prospects in the ecom space in the US. Probably one of the hottest niches in cold email. Everyone is looking for those lists. Now, imagine you’re the 3rd person blasting emails to that list. Especially if your emails are not 10/10, you’re NGMI. What also matters is that data churns fast. People go out of business, change jobs, or even, businesses might rebrand. 10 out of every 100 email addresses you have now, won’t work next months. Think about that.
6. How to scrape lists yourself?
Cheapest and easiest way you can use if you’re on a budget:
- Free Apollo account (from custom domain)
- Create search in Apollo
- Go to Apify for Apollo scraper
- Scrape unlimited leads from your Apollo list with Apify scraper for free
- Enrich your list with another Apify scraper (Linkedin decription, posts, news, etc)
- Clean your list in Google Sheet
- Using GPT Google Sheet integration, categorize leads according to whatever criteria you have, based on LinkedIn company description
- Verify list with MillionVerifier
7. Any small secrets to increase reply rate?
Define “small secrets”. Some people may think these are obvious, some never heard of them:
- start a conversation instead of instant pitching
- use a PS line
- pitch in the PS line
- don’t fake compliment
- use hyper relevant offers
- use hyper relevant copy
- think from their perspective: what would make them think “wow” this dude actually took the time to write an email to me
- when creating your offer, make it specific to recipient’s position
- when creating your offer, take marketing sophistication levels into consideration
8. Any small secrets to increase deliverability?
- experiment with everything
- don’t overdo spintaxes
- keep your domains fresh
- use mostly MS365 & Workspace inboxes
- rotate inboxes monthly
- check health regularly
- check your IP regularly
- create yourself a deliverability troubleshooting SOP
- randomize # of emails sent out each day (withing 10% range)
9. How many emails should you send from each inbox to stay under the radar?
Max 30/inbox. Ramp up slowly. Don’t stop sending emails when you run out of leads. Prepare your next batch of leads for when you run out.
Also, I’ve been thinking about randomizing the number of emails sent out each days. Probably a good thing if you wanna stay under the radar.
10. How to add personalization that hits the mark?
Look for any datapoints that you can use to answer the following question in your head: “why did you email me with your offer?”
- because I saw you’ve been promoted to SDR
- because your growth has been stagnating
- because you’re part of the “lead gen” LinkedIn group
- because I really resonate with your mission
etc
you get the point