How To Convert Customers With Cold Emails | Startup School

Key Concepts

Warm intros, cold emails, conversion funnel, open rates, response rates, targeting, personalization, credibility, call to action, follow-up.

Writing Cold Emails That Convert

1. The All-Time Best Email Outreach Hack: Warm Intros

• Main Point: Getting a warm introduction significantly increases email response rates (2-3x higher conversion rate).
• Process: Leverage your network (LinkedIn, friends, co-workers, alumni) to find connections to the target person.
• Details: Explore all possible connections to find someone who can provide a warm introduction.

2. Mapping Out Your Funnel

• Main Point: Understand and optimize your conversion funnel to achieve your goal (e.g., acquiring a new customer).
• Step-by-Step Process:
  1. Start with your goal: Define the desired outcome (e.g., one new customer).
  2. Work backwards: Map out the steps required to achieve the goal (e.g., demos, responses, opens, emails sent).
  3. Calculate conversion rates: Determine the conversion rate at each step of the funnel (e.g., demo to customer, response to demo, open to response, sent to open).
• Example: B2B software company funnel:
  • Goal: 1 customer
  • Demo to customer: 10% (10 demos needed)
  • Response to demo: 25% (40 responses needed)
  • Open to response: 10% (400 opens needed)
  • Sent to open: 50% (800 emails needed)
• Key Takeaway: Requires sending a significant number of emails (dozens per day) to achieve meaningful results.
• Important Note: Start manually and personalize emails to learn what works before automating.
• Goal of First Email: To get to the next step in the funnel, not to close the sale immediately.
• Optimization: Track and measure conversion rates to identify areas for improvement. Conversion rates will decrease as you scale.

3. Increasing Open Rates

• Main Point: Better targeting is the most effective way to increase open rates.
• Details: Focus on finding people who genuinely want your product or service.
• Comparison: 100 targeted emails are more effective than 1000 untargeted emails.
• Iterative Process: Improve targeting over time as you learn to qualify leads better.
• Email Client View: The sender's name and subject line are crucial for influencing open rates.
• Sender Name: Use your personal name instead of the company name.
• Subject Line: Keep it short, relevant, and interesting (e.g., "Hey quick question," "Can I get your advice?").
• Channels: Email is generally better than LinkedIn, which is generally better than text messaging (unless you have explicit permission).
• Finding Emails:
  • Ask someone who knows them.
  • Connect on LinkedIn.
  • Check their blog or website.
  • Use LinkedIn Sales Navigator.
  • Guess based on company email format.
  • Use tools like apollo.io, hunter.io, Clearbit.
• Building Your Brand: In the early days, you are the brand. Your personalization and effort matter.
• Personal Connection: Encourage users/customers/partners to bet on you personally.
• Personal Touch: Offer your personal cell phone number for support.

4. Getting More Responses: Seven Principles of Effective Email Copy

1. Focus Specific Goal:
   • Main Point: Have a single, focused outcome (e.g., response, click, intro).
   • Avoid Paradox of Choice: Multiple asks overwhelm the recipient.
   • Every Word Counts: Delete anything that doesn't drive towards the goal.
2. Be Human:
   • Main Point: Use emotions and informal language.
   • Examples: "I'd love to," "It would mean a lot," "Hey," typos.
   • Creative Content: Use GIFs, videos, or custom content.
   • Write Like Talking to a Friend: Avoid generic templates.
   • Read Aloud: Ensure the email sounds natural and comfortable.
3. Personalize:
   • Main Point: Avoid generic spam by personalizing the email.
   • Name: Use the recipient's name (e.g., "Hey Aaron" instead of "Hi there").
   • Specific Details: Show that you've done your research (e.g., "I'm a huge Creative Market fan ever since you launched the photos category").
   • Uncommon Commonalities: Find unique things you have in common (e.g., same college, same class).
   • Do the Work: Research the company, find the right contact, use their product.
4. Keep It Short:
   • Main Point: Make the email easy to read and respond to quickly.
   • Mobile-Friendly: Most people read emails on their phones.
5. Establish Credibility:
   • Main Point: Build trust by highlighting your credentials.
   • Examples: YC affiliation, former schools, companies worked at, customer names (social proof), industry data.
   • Shared Connections: Mention people you both know.
6. It's All About the Reader:
   • Main Point: Focus on the recipient's problems and how you can solve them.
   • Reframe "I" as "You": Tell your story as a quest to solve their problems.
   • User Language: Use the language your users use to describe your company.
   • Avoid Demands: Don't make demands or set deadlines.
7. Clear Call to Action:
   • Main Point: End with a concrete next step.
   • Examples: "Reply to let me know," "Click here to get started," "Can you intro me to [person]?"
   • Standalone Sentence: Make the call to action its own paragraph.

5. Follow-Up

• Main Point: One email is often not enough; plan to follow up manually 2-4 times.
• Balance: Be persistent but not annoying (give it a few days between emails).
• Creativity: Get creative with each follow-up (e.g., "Free donuts" subject line).
• Don't Get Angry: If someone doesn't respond, move on and check back later.

6. Email Examples: Before and After

• Ineffective Emails:
  • Example 1: Sending a shipping service email to a company selling digital assets (poor targeting).
  • Example 2: Generic email with no personalization, unclear ask, and a dismissive PS ("If you don't want to hear from me anymore, just let me know").
  • Example 3: Email focused on the sender ("I, I, I") instead of the recipient's needs.
• Effective Emails:
  • Example 1: LinkedIn message referencing shared college experience ("Go Terps," Van Munching Hall) and a clear ask (review YC app).
  • Example 2: Templated email (Creative Market) using informal language, smiley faces, and exclusive language ("special link," "handpicked sellers").
  • Example 3: Before/After: Smoothie company email changed from focusing on demo day goal to offering a "free Smoothie party" for the recipient's team.

7. Final Advice

• Manual First: Start manually to learn and scale later.
• Time Blocking: Block off hours per day to send emails effectively.
• Tracking and Measuring: Track conversion rates at each step of the funnel.
• Founders Should Send: Emails are more effective when sent by founders or the CEO.
• Dozens of Emails Per Day: Send a significant number of emails to see results.
• Personalized Attention: Use your small size as an advantage to personalize emails.

Synthesis/Conclusion

Writing effective cold emails requires a strategic approach that combines targeted outreach, personalized messaging, and consistent follow-up. By understanding your conversion funnel, focusing on the recipient's needs, and crafting compelling calls to action, you can significantly increase your chances of converting cold emails into valuable customer relationships. The key is to start manually, learn what works, and then scale your efforts while maintaining a human and personalized touch.