Important Metrics & KPI for cold email Stage
Whenever you adopt a new process like outbound cold email, you need metrics to help you with optimizing the process. Focusing on right metrics and KPI will help you make the most out of it.
Whenever I hear people saying a particular process didn’t work for them, I ask them if they have data that can help them conclude success or failure of a process.
The objective of cold emails is to generate interest and schedule an online demo or the phone call or whatever is the next step in the process.
Major cold email step KPI could be following:
- Open rate of email – Tells how good is subject line. Try multiple subject lines and use data to see which subject line is most effective.
- The response rate to email – Tells how good is your email content to get a response.
- Email to demo ratio or email to the meeting ratio – Depending on next steps in your process, you can define these metrics. If it’s demo then the number of demos Vs. the number of emails sent.This is the most important metric and defines the success of prospecting process. You might need some more steps after cold email to reach demo but email is the start.
- Followup to increase response rate & open rate – Cold email once is not enough sometimes, you have to send email followup emails. Not too many but maybe 3–4. Metric of increase in open rate & response rate after first and second follow-up.
Use proper tools to measure these KPIs and optimize campaigns accordingly.
Send the campaign to a list of 100-200 people in a day and send 2 campaigns in a week. This will help you send a highly targeted campaign and also handle responses without losing some through the crack.