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The most common way of finding a client is through referrals. But this method comes with its limitations as it relies on word-of-mouth recommendations from other people who may or may not know the person they're referring you too. And unless you have an inordinate amount of friends helping you out, that's usually going to be pretty hard for anyone but yourself.
Cold email makes up for all these shortcomings by allowing you to directly reach out to someone whom you've never met before. It gives you direct access to whoever might need what you offer—and allows them to make their own decision about whether they want to work with you.
Let’s look at how using cold emails could benefit your business.
A lot has been written about why cold emails don't get opened. The biggest reason being that prospects are bombarded with so many messages every day that they often ignore promotional emails altogether.
But when sent properly, cold emails stand a much better chance than any other form of communication because there isn't really anything else like it. They allow you to quickly build rapport, establish trust, gain interest, and ultimately close deals faster.
In fact, according to Mailchimp research, just one percent of cold emails gets opened while only three percent end up getting clicked. So if you send 10 cold emails today, you'll probably see two responses instead of none. That means you're likely to receive two leads per week instead of zero.
As well as increasing conversion rates, cold emails also enable you to grow exponentially without spending thousands on marketing campaigns. All you need to do is learn the right approach to writing good cold emails and then repeat the process over and again.
When used correctly, cold emails will lead to higher conversions, which will eventually translate into larger profits for your company.
No matter how big your customer base is, cold emails give you the opportunity to connect with potential buyers even if they haven't heard of your product yet. By reaching out via email, you're making sure that they come across your message regardless of where they browse online.
You should always try to position yourself as the solution provider rather than simply trying to sell something. This requires building credibility first and establishing relationships second. Since those things take time to achieve naturally, cold emails play a huge role here.
If you write compelling subject lines, use language that speaks specifically to the recipient, show proof of your expertise, explain exactly what benefits they'd get from working with you, and ask questions, chances are high that you'll grab their attention long enough to keep reading until the very last line. After all, curiosity kills cats!
And once you've established contact, you can follow up consistently to ensure that they stay engaged. When done effectively, cold emails can help you increase visibility among target audiences while growing your list of prospective clients.
According to Hubspot research, 76% of consumers prefer talking to businesses via email compared to phone calls or texts.
So if you ever consider abandoning text messaging to exclusively communicate with your audience, think twice. Texting works great for sending short updates, but for longer conversations, you'll definitely miss out on some opportunities.
While cold emails are primarily designed to attract existing customers, they can also be effective tools to convert strangers into paying clients. If you treat them strategically, they can also serve as a gateway to bring in completely new customers.
It doesn't matter whether you run a small home based business, freelancing agency, or full-time enterprise. Your job is equally important and valuable no matter what kind of work you're doing. As such, everyone deserves fair pay and recognition.
By showing empathy towards others' situations, you demonstrate that you care about both sides. In turn, this creates mutual respect between you and your contacts. Once you start treating people fairly, they won't hesitate to reciprocate.
This also shows your professionalism and competence while boosting confidence levels in your interactions. For instance, let's say you're selling professional services like web design or copywriting. Instead of asking for money upfront, you can use cold emails to introduce the concept of ongoing monthly subscriptions.
Here's another example. Let's assume that you're offering freelance graphic designing service and you happen to meet someone whose website needs urgent improvement. One option would be to charge them for each individual project separately. However, you could also create a custom plan for them where you handle everything upfront and bill them accordingly.
Both approaches rely heavily on the client opting into your program. While charging for each project seems easier, it's actually far riskier since you'll be relying solely on a single source of income. On the contrary, having a regular flow of revenue puts more control in your hands.
With cold emails, you can set up multiple streams of income and diversify your sources of income by creating different plans. Here's a quick summary of what you need to include in a typical cold email:
Subject line: Keep it simple and clear. State what problem you're solving and present how you solve it. Don't go overboard with fancy wording; stick to straightforward sentences. Also mention features and benefits whenever possible.
Message: Write a concise paragraph describing the situation and highlight key points you wish to convey. Make sure that you cover relevant information, including pain points, goals, and expectations. Leave room for open ended questions to encourage further dialogue.
Call-to-action (CTA): Ask for actionable steps by stating clearly what the reader must do next. Use imperative words like "call," "email," etc., along with phrases like "please" and "thank you." To avoid confusion, state deadlines explicitly. Remember to add hyperlinks wherever applicable.
Finally, attach supporting materials relevant to the topic discussed. These can range from testimonials to case studies and white papers. Be careful though, adding attachments can slow down response times. Most importantly, always remember to double check spelling, grammar, and punctuation errors.
To sum up, cold emails aren't meant to replace face-to-face meetings entirely. Rather, they complement them. They help you overcome several obstacles that prevent traditional forms of advertising from achieving desired results.
Once you've found a prospect interested in your products or services, you need to nurture them to develop long term relationships. Cold emails are excellent tools to accomplish this goal.
They not only provide consistent feedback on how best to engage with your audience, they also act as powerful reminders of what you already offered during initial discussions.
For example, if you're looking to launch a digital course, you can use cold emails to remind users about past sessions. Or if you're launching a physical book, you can post discounts on social media sites to incentivize readership.
Another perk of cold emails is that they tend to cost less than traditional forms of marketing. Compared to flyers, TV commercials, radio ads, billboards, magazine advertisements, and newspaper ads, cold emails carry considerably lower production costs.
Plus, unlike traditional methods, cold emails require little effort to produce. With minimal resources, you can easily manage dozens of daily tasks. According to Kissmetrics study, cold emails account for 52% of total email opens globally.
All in all, cold emails have proven themselves as highly successful modes of communications. Even though they take some practice, they're worth investing in as they can boost productivity, save time, and improve efficiency. Plus, they're free to execute.
Email marketing is still the preferred choice of marketers worldwide. Whether you're running a B2B company, eCommerce store, or are a solopreneur, you should use cold emails regularly to market your brand and products/services.
Even though cold emails seem intimidating at first, they're easy to craft and execute. Just focus on following essential rules to ensure maximum success.