How detailed does your analysis and reporting need to be to gather the insights you need to build engaging campaigns?
Cold email is becomingly increasingly challenging for startups to succeed. You don't know your audience yet, and you don't have nonverbal feedback, so you can't change your strategy in real time. As a result, most cold emails fail. Yet, other startups book real pipeline each week and fuel their growth this way despite not having a recognizable brand name.
We tell all our clients that they can't simply A/B test their way into success if their starting point is completely off. But for teams that understand their prospects well and can communicate their messaging effectively, quick iteration can lead to huge breakthroughs. This can only done by regularly and thoroughly analyzing the effectiveness of your campaigns.
This is a look into our approach to this:
The first step is to read your email across all email campaigns of your company and categorize them based on themes and approach. Theme would refer to what pain point of your audience you are targeting, and approach would refer to the way you targeted that pain point.
In the second step, select the best performing email across all the campaigns and look for the theme, approach, and placement in the sequence. Once you have categorized your emails, look for similar patterns in your second and third best emails.
The third step comprises classification of email based on their open rates. Make a table and see what subject lines gave you the most open rates. Note down the number of words in the subject line, its approach (is it explicit or abstract), type (question, highlighting a statistic or a claim), and its positioning (positioning in sequence).
Classification of email based on value proposition is the aim of the fourth step. Make a table and note down what value proposition made you achieve your goal i.e., clicks or replies to your email. Classify based on the positioning of the value proposition in the sequence, its approach, and its theme.
The fifth step focuses on the replies by your audience to your cold emails. It basically analyses what approach you took when asking for a meeting or a demo of your product/service. The emails with the best response rate would show what triggered a response and the positioning of ‘the ask’ in the email sequence.
The last step involves forming patterns of what approach and theme of subject line, value proposition, and ask helped you achieve your goals (clicks, replies, open rates etc.).
After all the analysis, you will have a report reflecting insights on who your actual audience is and differentiate it from your perceived audience. This analysis will put you in a more educated and informed position to conduct b-testing with your messaging.
Applying the Zevenue method will also help you understand your ideal customer profile (ICP) and buyer persona of your customers. It helps you execute not only your cold email strategy but also execute effective marketing campaigns for your business on different platforms.
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