While I was in college, I met the founder of a fast-growing startup in Boulder, Colorado and had lunch with him. I asked him questions like, "How are you guys growing fast?" and "How do you acquire customers?" I didn't realize it at the time, but what he told me transformed how I do business today. The founder told me that they were acquiring an insane amount of B2B customers at an insane rate with virtually no marketing spend. His secret? Cold email marketing.
I was hooked in seconds and spent the next couple of years learning everything I could by testing different email marketing methods. Finally, I cracked the code.
Why You Should Care About Email Marketing
In the past, direct mail and cold calling have been top-of-the-funnel marketing methods for businesses attempting to acquire new customers. The problem with cold calling is that it is time-consuming and virtually impossible to get your prospects on the phone. Direct mail used to be effective, but now executives spend most of their days checking email -- so if you send them an email, there is a much higher chance of them reading it.
You can send thousands of emails in minutes to generate massive demand for your product or service. Another benefit of emailing over calling is that it allows your prospects to get back to you on their own time.
The Basics Of Email Marketing
Find your prospects.
The most important factor when it comes to sending sales emails is to send them to the right people. When preparing to launch an email campaign, figure out who you would like to target. Ask yourself questions like: Who primarily uses my product? What industries are they in? What role is the potential decision maker? Who would be interested in my product but doesn't know it yet?
Know your sales formula.
You've probably heard the expression AIDA -- attention, interest, desire, action. When you send a cold email to an executive, you only have a couple of seconds to grab their attention and interest in your product or service.
Know how large the lifetime value of your average customer is. This will determine your email marketing strategy and how much time you should spend on emails. For example, if the average lifetime value of a customer is only $1,000, send an email blast to your target audience. If the average lifetime value of a customer is greater than $10,000, send more personalized emails. The best strategy for enterprise sales is sending more quality emails and the best strategy for small businesses is to send a greater quantity of emails.
Know your customer.
If you can speak your prospect's language, you have a much higher chance of getting a response. If you aren't sure how to speak their language, just do a Google search of their industry, role and priorities for 2018. This will also prepare you for sales calls for the next step in the funnel.
Craft engaging subject lines.
If your prospect doesn't open your email, you have no chance of selling them -- you need to come up with a compelling subject line. Ask a question, say you have a quick question for them or use the word "your." When you use "your" in the subject line, your prospect will be curious as to what your email is talking about. For example, you might use a subject line like "Your sales efforts" to grab their attention.