How To Convert Customers With Cold Emails | Startup School

In the world of startups, cold emailing can be a game changer. It’s a tool that, when used correctly, can help you connect with potential customers, partners, or even mentors. In this article, we’ll explore effective strategies for writing cold emails that not only get opened but also convert leads into customers.

Key Takeaways

• Warm intros are the best way to get responses.
• Map out your conversion funnel to understand your goals.
• Personalization is key to standing out in crowded inboxes.
• Follow up persistently but thoughtfully.

The Power Of Warm Intros

The best way to get someone to respond to your email? Get a warm introduction. This method can boost your response rate by two to three times compared to sending a cold email. To find warm intros, tap into your network. Look through your LinkedIn connections, friends, former coworkers, and alumni networks. You never know who might know the person you’re trying to reach.

Mapping Your Funnel

Before you start sending emails, it’s crucial to map out your conversion funnel. Start with your end goal. For many, this is acquiring a new customer. Work backward to understand how many emails you need to send to achieve that goal. Here’s a simple breakdown:

1. Goal: Get 1 new customer.
2. Conversion Rate: If your demo-to-customer conversion rate is 10%, you need to give 10 demos to get 1 customer.
3. Responses Needed: If 25% of people who respond to your email sign up for a demo, you need 40 responses to get 10 demos.
4. Email Opens: If 10% of people who open your email respond, you need 400 opens to get 40 responses.
5. Emails Sent: If 50% of your emails are opened, you need to send 800 emails to get 1 customer.

This means you should be sending dozens of emails daily to see meaningful results. Start by writing these emails manually to learn what works before automating the process.

Increasing Open Rates

To improve your open rates, focus on better targeting. It’s more effective to send 100 targeted emails than 1,000 untargeted ones. Here are some tips:

• Use your personal name in the sender field.
• Keep your subject lines short and relevant.
• Avoid overly salesy language.

Crafting Effective Emails

Once you’ve got someone to open your email, the next step is to get them to respond. Here are seven principles to help you write effective cold emails:

1. Have a Specific Goal: Focus on one outcome you want from the email.
2. Be Human: Use a conversational tone and express emotions.
3. Personalize: Make your email feel tailored to the recipient.
4. Keep It Short: Avoid long paragraphs; make it easy to read.
5. Establish Credibility: Mention relevant experiences or connections.
6. Focus on the Reader: Frame your email around their needs, not yours.
7. Clear Call to Action: End with a specific next step for the recipient.

The Importance Of Follow-Ups

One email is often not enough. People are busy, and your email might get lost in their inbox. Plan to follow up two to four times, but be careful not to come off as annoying. Space out your follow-ups and try to get creative with your subject lines. For example, one time I used “Free Donuts” as a subject line, and it got their attention!

Real-Life Examples

Let’s look at some examples of effective and ineffective cold emails:

• Ineffective Email: A generic email that doesn’t address the recipient by name or provide a clear ask.
• Effective Email: A personalized message that references a shared experience or interest, with a clear request for action.

Final Thoughts

Cold emailing can be a powerful tool for startups. By focusing on personalization, being human, and following up thoughtfully, you can significantly increase your chances of converting leads into customers. Remember, it’s all about building relationships, not just making sales. So, get out there, start sending those emails, and watch your startup grow!