How To Convert Customers With Cold Emails with Aaron Epstein | Startup School
Nov 16, 2024
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Aaron Epstein, a Group Partner at Y Combinator, shares invaluable insights on mastering cold emails for startups. He delves into the key elements that make cold outreach successful, such as the importance of personalization and compelling subject lines. Aaron discusses the conversion funnel process, highlighting how targeted and tracked emails can significantly improve results. He emphasizes adapting strategies based on industry and recipient preferences, ensuring cold emails cut through the noise and convert potential customers effectively.
Warm introductions significantly improve email response rates, often leading to conversion rates two to three times higher than cold emails.
Effective cold emailing requires a structured approach, including targeted messaging and adherence to seven core principles to maximize engagement.
Deep dives
The Power of Warm Introductions
Getting a warm introduction is identified as the most effective method for improving email response rates. Utilizing personal networks, including friends, former colleagues, and alumni connections, can significantly increase the likelihood of receiving responses to outreach emails. When compared to cold emails, warm introductions can lead to conversion rates two to three times higher. However, it’s important to recognize that not every situation will allow for warm introductions, necessitating effective strategies for cold emailing as well.
Mapping Your Conversion Funnel
Creating a conversion funnel begins with identifying the ultimate goal, such as acquiring new customers. The process entails working backward from this goal to determine the necessary steps and associated conversion rates at each stage, such as product demos leading to customer acquisition. For instance, to achieve one new customer, it may require sending a substantial number of emails and having multiple interactions. This systematic approach highlights the necessity of high-volume outreach to see meaningful results in conversions.
Improving Open Rates Through Targeting
Better targeting is emphasized as the most effective way to enhance email open rates, stressing the importance of reaching the right audience. Sending 100 well-targeted emails is preferable to sending 1,000 untargeted messages, as the latter often results in low engagement. The construction of the email, including using a personal name for the sender and crafting a compelling subject line, plays a critical role in attracting attention. Each email component should feel personal and relevant to maximize the chances of engagement and responses.
Seven Principles for Effective Email Copy
Adhering to seven core principles can lead to the crafting of standout emails. These principles include having a focused goal, ensuring a human tone, personalizing the message, maintaining brevity, establishing credibility, centering on the reader’s needs, and providing a clear call to action. The language should be relatable, aiming for a conversational feel that encourages responses, with an emphasis on personal connections rather than generic outreach. By following these guidelines, senders can significantly enhance their chances of capturing attention and eliciting responses.
Whether it's for sales, recruiting or making new connections, cold outreach is a necessary tool for helping build your startup. But as you probably know, most cold emails either are ignored or end up in the trash. So what can you do to make sure your emails break through the noise? In this episode of Startup School, YC Group Partner Aaron Epstein shares expert advice on how to write cold emails that have all the right ingredients to get noticed and convert new customers.
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