All businesses have one thing in common. They all need clients, customers, patients, patrons, or whatever classification term one would like to add in that blank. The fact is, a business needs income to remain a viable business. The only way to generate new or recurring income, is with paying customers. This is a brief summary of one budget friendly strategy that DO Marketing in Dothan, AL uses to find new prospects and turn them into paying clients for businesses… appropriately referred to as Prospects to Profit.
There are many ways to prospect in business, and some more effective than others. The one that is covered today, isn’t always the first one utilized by businesses. It is, however, one of the most effective and inexpensive ways to prospect, when implemented correctly and consistently.
This method is the Cold Email strategy. There are seven basic steps to make sure a company using this strategy is complying with the Can-Spam Act of 2003 when utilizing cold email. For the sake of time, those won’t be detailed here, but according to David Oswalt, Founder and CEO of DO Marketing, those steps aren’t difficult to follow, and definitely do not reduce the potential effectiveness of this strategy as a method . As a matter of fact, Salesforce was built to over 100 million in sales using cold email, and Elon Musk used cold email to build PayPal into the giant it eventually became.
Cold Email is very targeted, meaning a company can deliver their messages directly to the exact person the message is intended for. Another benefit of Cold Email prospecting is that it is virtually free. If the budget is tight, Cold Email can be one of the least expensive ways to reach out to hundreds or even thousands of prospects in a short amount of time.
DO Marketing Inc. outlined seven steps a business using cold email should take to have success with this prospecting strategy.
First step is to identify the ideal niche for the email outreach. Who is the business’ ideal client? Or… What group of clients is the most likely to get the most value from the problem a business solves or the solution a business offers? In other words, what specific niche does a company specialize in helping its clients or customers solve their problems?
Second step is to create a list of emails within that particular specialty niche. A campaign is only as good as the data on the list. This data can be bought, it can be built, or it can be comprised of both bought and built data. A good rule of thumb is, the harder the data is to find, the better the response rate to the cold email outreach campaign.
Third step is cleaning and verifying the data on the lists. This process will help reduce the bounce rates of an email campaign and also keep the sending email account from getting flagged as a spam source due to a high bounce rate. Again, the success of campaigns is only as good as the data on the list. So taking this step seriously will increase response rates and success rates of campaigns significantly.
Fourth step is to write excellent copy for the cold email outreach campaign. Basically finding out what people want, then showing them how to get it! There are four steps within this copywriting stage. 1 – Starting with a problem, a want, or desire. 2 – Presenting a promise, to help prospects solve the problem, or acquire the want or desire. 3 – Providing proof or evidence that the business can help the prospect solve the problem. 4 – Finally proposing an offer that persuades the prospective client to take action now.
Fifth step is having an effective email delivery system. There are several available to sign up with, or businesses can even use a gmail or g-suite email from Google to deliver emails. These are the two best practices when sending out a large amount of emails, but which method to use will be determined by the list and the number of emails a company plans to send daily. It is not a good idea to send more than 2000 emails per day, and considering a campaign could have a 1-3% response rate, even just sending 100 emails per day to prospective clients, could result in 1-3 appointments per day for a business.
Sixth step in the cold email strategy is to follow up and set appointments. This is one of the most important steps in the process because in today’s digital world, online sales leads have a short life span. Studies have shown that companies who contact their potential customers within the first hour of receiving a query, were nearly seven times as likely to have a meaningful conversation with a key decision maker, as those companies who contacted the prospect even an hour later —and more than 60 times as likely as companies that waited 24 hours or longer.
DO Marketing’s CEO also pointed out that using this strategy, a company will want to continue to send cold emails to the lists until the recipients either respond or unsubscribe. Once the work has been put into building the quality list of prospects in a particular niche, then continuing to send well written, follow up emails is key to increasing a campaign’s success rate.
Seventh step is booking an appointment and closing a sale. The best way to convert a prospect into a customer, once there is a response to cold email outreach, is to get the prospect on a phone call. If the contact number is provided in a prospect’s initial response, then simply picking up the phone and calling immediately is a great idea. Have a plan on this call, and using scripts or guides to a sales call are recommended. Using appointment software such as Schedule Once or Calendly are also effective in scheduling these sales calls.
For more details, see Cold Email Outreach here.
Release ID: 89039419