So, up until a few months ago I had never thought about running cold email campaigns. Was talking with a friend who owns a manufacturing business and he was raving at how great it has been for him.
Decided I'd give it a shot.
Obviously no one wants to receive a cold email, and they don't perform nearly as well as my opt-in email campaigns. But. Data is cheap (after searching around, I've found a good source that is charging $.13/contact), so I started off with a list of 20k and figured what the hell, if it works great, if not its not a ton of money burned.
On my first week of sending intro emails, I averaged around a 22% open rate, and a 7% CTR from the people who had opened. Managed to pull in 17 leads, of which 2 turned into clients.
GREAT - Already in the green.
Now, I am re-targeting those who had opened the original intro. I'm seeing closer to a 37% open rate, & around a 13% CTR.
With those that didn't open the original, I'm hitting with a intro2, and seeing pretty lousy open rates (to be expected), I think it is only around a 6%, not a total lost cause, but not that great.
I'm not sure if I just got lucky on my first email campaign, or if I can expect to continuously see results similar to this. Overall, I expect to close 5-7 new clients, which will make it a very profitable venture.
Plan to ramp up to a 50k purchase of data, and see if I can keep the results consistent.
My question for you guys: How many of you have used cold email marketing in the past, or currently still use it? What kind of results are you seeing? Is this a long term sustainable marketing medium?
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