For SaaS startups, cold email is a potent growth channel. Cold emails can assist you in reaching the proper demographics, nurturing leads, and establishing relevance with a suitable client base.
Cold email is an essential lead-generating strategy, but it's also easy to end up in the spam folder and say goodbye to your outreach program. So, in this article, you will learn the following:
- Differences Between SaaS Cold Emails & Normal Cold Emails
- How to Convert More SaaS Customers Through Cold Emails
So, if you’re interested, keep reading.
Differences Between SaaS Cold Emails & Normal Cold Emails
Although there are many parallels between cold emails sent to other sectors and cold emails sent to the SaaS business, there are also significant distinctions. Both sectors must verify that the email was delivered successfully, received, viewed, and the CTA (Call to Action) was performed.
Among the most significant contrasts between other business practices and the SaaS industry is that no other company offers a month-long free version of their product or service. However, many SaaS firms do this to gain consumers. Although this is a simple approach to entice an audience, it has no bearing on revenue generation because no fees are paid. Instead, revenue is produced when a customer signs up for a premium package.
As a result, SaaS companies should strategically employ such offers to seal agreements rather than provide free trials immediately. As a result, client management and interaction are improved.
How To Convert More SaaS Customers Through Cold Email
Collect Relevant Data & Understand Your Target Demographic
It's critical to figure out who your ideal customers are before devising a cold email campaign. If you already have a list, you may utilize it as a starting point for creating your perfect customer persona. However, remember that knowing the basics about crucial demographic, including their name, job title, or contact information, is insufficient to understand their demands.
Look at your existing client database to get a general notion of the response rate. Then, evaluate which emails receive the most responses and use that data to obtain insight into your prospect's mind.
The next phase would be to delve into their company and discover more about them. Here are some questions to ask to have a deeper knowledge of the inner workings of an organization you want to target:
- What industry or function should you concentrate on?
- How many people do they employ?
- What commonly used software/solution do they utilize?
- Is there any software from your competitors that they're using?
- What are their plans for expansion?
It's entirely up to you how much information you want to collect, whether from a wide or narrow perspective. The bottom line is to acquire a good image of your target demographic and their problems and later communicate how you can provide them with solutions. One of the most crucial aspects of this approach is determining how your product or service solves their problem (i.e., how you will assist them in overcoming it).
Once you've gathered enough information, you can use it to create a client or buyer persona that can help you tailor your cold emails. Of course, the more data you collect, the more straightforward and essential your message will be.
Build Your Buyer Persona
You may create the ideal cold email by creating a buyer persona using the precise data you've collected. You may narrow down the type of consumer you want to attract once you have a fair sense of the kind of prospective clients your company is attracting. Think about having a strategy meeting to develop the ideal consumer profile. Consider the following questions:
- Which type of clients do you want to attract?
- What specific points are you attempting to make?
- What distinguishes your product or service from that of my competitors?
While answering these questions, the data you acquired in the first phase will come in useful. It's easier to develop the ideal buyer persona if you have a solid knowledge of the industry or service you're targeting.
Define two datasets when identifying and constructing buyer personas - demographic and psychographic data. Google Analytics, customer service databases, and contact databases can acquire demographic data such as sex, location, job status, and age (CRM).
Psychographic data is significantly more challenging, but it's useful for your email content. This type of information supports the creation of a customized message that interacts with your prospective client on a broader level, increasing the likelihood of a conversion.
Your target audiences' hobbies, beliefs, and sentiments are examples of such data. Email responses, online forums (Quora and Reddit), and social media monitoring can all provide psychographic information.
Personalize Your Email Content
Some salespeople incorrectly feel that making it personal entails concentrating just on themselves. While this may be useful in some situations (for example, after you've progressed beyond the cold email stage and are creating rapport), cold emails must be about your prospect.
To begin, demonstrate that you've done your study and are concerned about the success of the email receiver. Browse out their social media pages when looking for information and identifying stakeholders – Facebook, Twitter, and LinkedIn.
Look for tidbits of information that you may use to start a conversation in your cold email, be it about them individually (within limits) or their organization.
Personalization does not necessitate a lot of effort. Using a person's LinkedIn page will provide a wealth of information, including their present work and where they went to school, and any organizations or charities they may be involved with.
Names and titles should be double-checked. If you're emailing Tony Atlas, CEO of XYZ, double-check that he uses the name Tony rather than Tommy. After that, double-check to make sure their title is proper. While it may not seem important to some, obtaining a person's current position correct at the very least demonstrates that you're using current information.
It's a good idea to state your value proposition at the start of your email. In your first paragraph, state precisely how you found them to develop trust, therefore generating a welcoming atmosphere.
If you're confident in your SaaS sales skills, you're undoubtedly aware that potential customers want to learn more about how you can provide solutions to their pain points. It will help you if you mention the advantages of your product or service right away. Being upfront about what you're selling can help you bridge the difference between your company and a cold lead who could be interested.
Create A Suitable Subject Line
The subject line is the first element that a recipient sees when they open an email. The subject line is among the most crucial aspects of your email and should be considered the most crucial section of it.
It must be eye-catching and intriguing enough to capture your prospect's curiosity. Every day, billions of business emails are sent. This means there's a lot of competition, so you need to distinguish yourself in a crowded inbox of business people.
Place yourself in the receiver's shoes when writing the right subject line. If you read it, what will make you open it? What kind of language would resonate enough to propel an opening?
A good subject line delivers the email's information directly while keeping a sense of mystery. Including questions, call-to-actions, promotions, and their first name in your email will boost the chances of being opened.
A good rule of thumb is to avoid seeming generic and automated when composing a subject line. Personalization isn't always enough; you also need to be capable of communicating something the receiver requires or desires. It should be pertinent to their problems. Even if you want to utilize catchy phrases or subject lines that are clickbait-y, it is generally advisable to avoid them.
Generate A Response (CTA)
Your call to action is, without a doubt, the most important component of your initial email to a prospect (CTA). Surprisingly, it's also the aspect of your conversation that gains the most from being plain and forthright. You're not aiming to get a free trial, make a sale, or even set up a demo at this stage. You simply want to get on the prospect's mind while still respecting their time and leaving them with enough of an impact to move on.
Your primary purpose is to progress the engagement process. Do not request an hour-long meeting or full-fledged demonstrations of your goods or service. Instead, a question might be used as a CTA in a cold email. In fact, that should be all there is to it. Present your CTA as an opportunity for your prospective client to learn about the value of your brand at a time that is convenient for them. Keep your CTA eye-catching, concise, and straightforward.
Make it simple to respond to and within a certain amount of time. Professionals that are short on time will appreciate not trying to deal with a meeting time to discuss your initial cold pitch. Requests should be limited to 30 minutes or less (shorter is better). Here are several examples:
- Would you like to schedule a 10-minute conversation to talk about how we might reduce your costs?
- Do you have 15 minutes to explore how we may boost your sales?
- Can you spare 20 minutes in your hectic schedule to let me show you a quick CRM demo?
The goal of your CTA is to get to the next point of conversation with your prospect. Even if it's a simple 10-minute phone call, your email was effective enough to make the transition from typing to speaking.
Segment Your Emails
After you've built your baseline emails, fine-tuned your pitch, personalized the email, and concluded with a convincing CTA — segment them to enable more focused outreach to prospects.
Emails can be segmented to make them easier to control. More significantly, it allows you to go even deeper into prospect personalization, increasing the likelihood of a response. It helps you establish more direct and time-saving methods around your outreach, whether it's dependent on company size, individual, or job position.
You may create your segmentation as specific as you like. If your company sells collaboration software for offices, for instance, there are an unlimited number of segments to whom you can make direct appeals, such as:
- Companies that provide management services
- Groups of private owners
- Localities in particular states
The list goes on and on. That is also only one extremely unique industry. This method also aids in the identification of your ideal prospects. A greater response rate in one segment than in another may indicate that the client database should allocate additional resources.
To address the more tiresome portions of the cold email and sales funnel processes, you might investigate full sales automation as part of the segmentation process. You'll be able to maximize your efficiency while also keeping your sales agents focused on developing the company.
You won't get a response to every cold email you send. And that's perfectly fine.
It's not acceptable to give up after just one email. Follow-up emails serve as a reminder, and in today's packed inbox, it's critical to do so. However, the majority of follow-up techniques fail to offer value. Expand and expound on the first email when you follow up. Include a whitepaper, a case study, or an explanation of why they should contact you right away.
But then, how long should you wait before contacting them? This varies a great deal. However, before sealing the lead, it's a matter of following up three days after sending the initial email and adding 2-3 emails in the pipeline. Pressing follow-ups on someone who doesn't want to engage with you will annoy them.
Cold emails are a great way to generate B2B leads. However, there is a thin line between a successful email outreach campaign and a spam campaign. Don't presume that businesses will accept poorly designed drives. Always be diligent, concentrate on a specific goal, and give leads value before selling your stuff.
However, if you believe you need help with your cold emails - give OutReachBin a shot. OutReachBin can automate your sales funnel and personalize each email to maximize conversion rates.