Does Cold Email Still Work in 2023?
When creating your marketing strategy for 2023, you may be wondering whether cold emails will be a successful and profitable option for the coming year. In previous years, many companies have found that cold email outreach has led to a high sales conversion rate and increased profitability. But as the digital commerce world progresses, are cold emails still a viable option for your company?
Well, the good news is that cold emails are still a profitable and relevant option for companies looking to engage new customers and successfully promote their products.
Below we will talk you through everything you need to know about cold email sales and success rates, and how to write cold emails in 2023. But first, here are some statistics that illustrate exactly why cold emails can be an effective and profitable way to approach your customers this year.
Do Cold Emails Still Work in 2023? - A Breakdown of the Statistics
A massive 80% of your Potential Buyers prefer to be contacted by email rather than phone.
The research shows that people prefer to receive emails. In contrast to pushy and annoying cold calls, emails allow prospective customers to read about your offers and services at their convenience. They can refer back to the emails and choose to follow them up later in the day, this allows for a much more pleasant first contact rather than an all-or-nothing and high-pressure phone call.
Email marketing is nearly 40 times more effective than promoting your products via Social Media.
There is no doubting the power of social media nowadays in terms of increasing customer awareness, but how successful is it when it comes to securing concrete sales?
According to McKinsey's research, email marketing is more successful when it comes to generating new sales and acquiring new customers. Marketing emails generated almost 40 times more business for the surveyed companies than Twitter and Facebook marketing combined.
91% of US consumers access their email accounts every day.
One of the reasons that cold email marketing remains such a powerful method of generating sales in 2023 is that the majority of your target customers check their emails every single day. This means that when you set up a cold email campaign and send your first emails, then your prospective clients will see your email subject line that very day!
The average value of orders from emails is 17% higher than that of social media.
Not only is effective email copy more likely to lead to a sale than social media marketing, but you are also likely to make money on that sale. eMarketer research has shown that you can enjoy a healthy $17 increase in sales values from email customer conversions.
Why Are Cold Emails Effective?
So, now that we know that cold emails are still effective for modern consumers, let's look at exactly why this marketing strategy is profitable and could be the perfect match for your company and product offer.
You can send expertly personalized messages to your customer or client demographic
Using cold emails, you can send expertly personalized messages straight to your target demographic's inbox. You can ensure that every dollar of your allocated budget is going towards increasing brand awareness with your target customer group.
Profitability can increase when you segment your email approaches according to different customer types and stages of the customer journey
Cold email campaigns can be segmented to ensure that you get the best results for each type of client you are approaching. This is likely to lead to better results than a one size fits all approach on other platforms and marketing avenues.
Integrate your cold email marketing strategy into a larger multi-pronged approach to increase your chances of success
You can use emails as part of a carefully planned marketing approach to build on impressions, promotions, and offers advertised across other marketing channels. A cold email will help with creating a sense of personalized attention that compliments and develops brand awareness developed through other channels.
Send a direct and personalized approach to their inbox, where they are most likely to see it!
Modern consumers are turned off by bland, anonymous mass advertising that isn't tailored to their needs, concerns, and tastes. With successfully crafted cold email subject lines and email copy, you can promote your company with a person-to-person tone and approach.
Include more valuable information about your company to increase the desirability of your product or service
Cold emails give you more time and space to explain exactly what is so great about your product or service offer. You have not restricted to the time or text limits as with traditional print media, TV spots, or social media and have the room to develop a perfectly crafted approach to your customers.
You can easily track your open rates and what actions are taken on your email
Using cold email software, you can easily track exactly how successful your cold email subject lines and offers have been. Using A/B testing, You can look at the open rates for different subject line approaches, the copy in the email, and the offers included. Then, based on the most successful elements in each segment, you can refine your next cold email campaign so that it includes the copy which is most likely to increase profitability.
You can save time and effort by using High-Tech AI Cold Email Software
Almost 45% of marketing departments surveyed by Hunter stated that they don't use software for their cold emails to automate campaigns and save time. But part of the beauty of modern email campaigns is that you can immediately get real-time data about your campaigns and quickly create bulk email messaging and segmentation with AI-powered software.
What are the Secrets of a Succesful Cold Email Campaign?
Most people have a very crowded inbox and your company is unlikely to be the only organization that sends them an email that day, much less that week or month. So, you need to make sure that you have the knowledge, data, and information at hand to make sure your cold email campaigns give you a healthy return on your investment.
There are a lot of variables involved in crafting a successful cold email campaign in 2023. An approach that is successful for one type of company may fall flat with another. However, there are some key factors that you need to keep in mind before you begin creating any cold email.
Always do your research before beginning your cold email campaign
To get the best possible results from a campaign, initial market research is key. You need to have a clear idea of your customer avatar, their pain points, and their lifestyle aspirations and buying habits. Only then will you have the information you need to craft the perfect cold email approach for your customers.
Take advantage of the technology and software that is available
Using the available software such as Nureply is the best way to make sure you are producing cold email campaigns with maximum efficiency. Using the best in cutting-edge technology, up-to-date data, and industry-leading expertise, these software programs will enable you to create effective campaigns in a fraction of the time it would take you to create one completely from scratch.
And you'll also get access to detailed data which allows you to judge the effectiveness of your campaigns and identify areas that need to be improved the next time you send cold emails.
Effective and Engaging Cold Emails Subject Lines Are Essential
To be successful, your email needs to be carefully crafted and well-written in a voice that will appeal to your target demographic. And that starts with the subject line. This is the first point when your potential customers decide to either engage further and open the email or disregard your message completely and relegate it to the junk folder.
Your subject line needs to give them a reason to engage - highlight a USP (unique selling point), a deadline for an offer to create a sense of urgency, or some other approach that will tempt them to click open.
Your Email Copy Needs to be Engaging, Informative, and Avoid Fluff
Although emails give you more space to explain to potential clients exactly why your business can provide them with the best service or product, that doesn't mean your clients want to wade through an essay's worth of text to get a good idea of how you can benefit their lives.
Keep copy targeted, on-brand, and on-message. Make it easy for a skim reader to access the important points and include a clear Call To Action that the customer can't miss.
You should also try to keep things decidedly human. Stilted sales talk and AI copy-and-paste exercises are likely to be off-putting and most people will respond better if they feel that an actual human is writing directly to them.
Make Each Cold Email Personal to the Recipient
Using cold email software, you can include the recipient's name in the subject line and throughout the text. This will help your prospective customer to feel valued and is likely to increase the chances of them engaging with the messages and CTAs included in your text.
Assess the Data and Use it to Increase your Chances of Success in the Future
Once your cold email campaign is up and running, you need to make sure that you are paying attention to the data. Look at open rates, conversion rates, and actions taken on the email. This will give you the information you need to move forward with your cold email marketing strategies.
Summary - Does Cold Email Still Work in 2023?
Cold email still works in 2023 and the data indicates that it will continue to be an effective and important part of successful marketing strategies for years to come. But you must tailor your messages for each one of your prospects to make your campaigns more effective in 2023. Personalizing emails for your potential clients manually takes a lot of time and research. Luckily, you can now personalize your cold emails within seconds by using AI-powered software like Nureply. If you haven't yet tried us out. Try it out for free here.