Going for $100k from new customers in 60 days and thought I'd post my general strategy for feedback & to help others. Most of this is tailored to my specific case, so adjust as necessary. Credit to Alex Hormozi & Lead Gen Jay for inspiring a lot of the technical info.
Open Rate = Subject Line Copy X Data Quality X # of Follow Ups X Spam Filter
Reply Rate = Body Copy X Offer Relevance X Offer Appeal X # of Follow Ups X Trust X Prospecting Quality
Offer Rate = Prospecting Quality
Close Rate = Offer Competitiveness X Low Customer Action Difficulty X Trust X Prospecting Quality
Avg Deal Size = Trust X Prospecting Quality X Avg. Company Size
Subject Line Quality = Interesting
Body Copy = Easy to Understand X Easy to Believe X Interesting X Focused
# Of Touches = Start at 5, add 10 follow ups later b/c 75% of sales take up to 5 touches and 90% up to 10 touches (according to random internet data).
So which customers need our services the most. And who is experiencing the most pain?
More to come...
Cold Email Formula
Sales = Volume X Open Rate X Reply Rate X Offer Rate X Close Rate X Avg. Deal SizeThe Variables
Volume = Number of Markets ProspectedOpen Rate = Subject Line Copy X Data Quality X # of Follow Ups X Spam Filter
Reply Rate = Body Copy X Offer Relevance X Offer Appeal X # of Follow Ups X Trust X Prospecting Quality
Offer Rate = Prospecting Quality
Close Rate = Offer Competitiveness X Low Customer Action Difficulty X Trust X Prospecting Quality
Avg Deal Size = Trust X Prospecting Quality X Avg. Company Size
Subject Line Quality = Interesting
Body Copy = Easy to Understand X Easy to Believe X Interesting X Focused
# Of Touches = Start at 5, add 10 follow ups later b/c 75% of sales take up to 5 touches and 90% up to 10 touches (according to random internet data).
Action Items
If you look at the variables, Prospecting Quality is the most pervasive & Volume is probably the second most impactful. Prospecting Quality I'm defining as people who have a strong need for my services. An example is if you're selling gluten free bread. Targeting everyone is poor quality. Targeting those with gluten allergies is better quality. Targeting those with allergies from cultures with high bread consumption is best. So action item number one is to identify a market with high quality and the most customers.So which customers need our services the most. And who is experiencing the most pain?
More to come...
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