Before I share the secret behind a successful cold email campaign, let’s quickly take a look at how you can measure this success.
Think of them as the KPIs that will determine whether you need to upgrade your cold emailing game. Here, have a look:
Open rate = (Total number of opened emails ÷ Total number of delivered emails) X 100
- Open Rate: The open rate measures how many times or how many recipients opened your cold email. It is typically indicated in percentage with the formula:
A high open rate indicates that your subject lines (and possibly email snippets) are catching the recipient’s attention.
- Response Rate: This one’s pretty self explanatory - it indicates the percentage of your cold emails that got a direct response or reply from the recipient.
This percentage mainly measures how well your cold emails are engaging with the recipient, even if it is just a “thank you, however, we do not require your services as of now.”
It demonstrates the engagement capacity of your cold emails. The formula used to determine this percentage is:Response rate = (Total number of responses ÷ Total number of delivered emails) X 100
A higher response rate indicates that your SaaS cold email outreach campaign is resonating with your target audience. It triggers further conversations and increases the chances of conversion.
- Click-through-rate (CTR): The CTR determines the number of recipients who read your email and clicked on the link or call-to-action (CTA) you have provided in your email.
It reflects how well-crafted your email was. If the CTR is high, then it means that everything in your email was on point — the subject, the body, the CTA and your signature.
It reflects how well-crafted your email was. If the CTR is high, then it means that everything in your email was on point — the subject, the body, the CTA, and your signature.
Here's how you can measure it:CTR = (Total number of clicks ÷ Total number of delivered emails) X 100
On average, a CTR of 3-4% is considered good. Of course, the higher, the better. However, anything less than 3% may indicate that your cold emails need a revamp.
- Conversion Rate: The conversion rate is the ultimate measurement of the success of your cold email outreach campaign. It determines the percentage of people who took a desired action from your email, such as booking a call, signing up or registering, requesting a demo, etc.
To measure the conversion rate, use the following formula:Conversion rate = (Total number of conversions ÷ Total delivered emails) X 100