Cold Email Benchmarks & Tips for 2024

Discover key cold email metrics and actionable strategies to optimize your cold email campaigns in 2024.

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Do smaller campaigns perform better?

Smaller, segmented campaigns may yield better engagement metrics.

'In fact, in the next episode, we're probably going to do a review things when I'm going to run the numbers for like smaller campaigns and then compare if they actually, you know, have a big one.'

Takeaway:
  • Smaller campaigns allow for more personalization.
  • Segmenting your audience can lead to higher open and reply rates.
  • Consider testing with smaller batches to optimize performance.

Should you segment large campaigns?

Handling large campaigns effectively can be challenging.

'It is so much harder to achieve double digit reply rates when your campaign segment is north of 1000 prospects. That is hard.'

Takeaway:
  • Large campaigns may suffer lower engagement rates.
  • Consider breaking large lists into smaller, targeted segments.
  • Personalization is more manageable with smaller groups.

Are click rates higher than expected?

Evaluating click rates can reveal insights into recipient engagement.

'You'll be amazed 30.5%... It's crazy. Does that include like YouTube links and signature?'

Takeaway:
  • Median click rate was surprisingly high at 30.5%.
  • Click rates may be influenced by signature links or tracking pixels.
  • Analyze what contributes to your click rates to understand recipient behavior.

What is the average unsubscribe rate?

Keeping unsubscribe rates low is essential for maintaining a healthy email list.

'The median is 0.36% which is really good. I was surprised like if you get less than, more than less, sorry than 0.36% you're doing better than half of the campaigns.'

Takeaway:
  • Median unsubscribe rate is low at 0.36%.
  • High unsubscribe rates may indicate issues with content relevance.
  • Regularly monitor unsubscribe rates to maintain list health.

How low are average bounce rates?

Understanding bounce rates helps maintain sender reputation and deliverability.

'The median is actually 0.43% bounce rate, meaning on quick mail, half of the company less than 0.43% of bounces.'

Takeaway:
  • Median bounce rate is impressively low at 0.43%.
  • Effective email verification tools reduce bounce rates.
  • Implementing MX bouncing can filter out invalid emails.

Does open tracking affect reply rates?

The impact of open tracking on deliverability and reply rates is a debated topic.

'People with open tracking off, the top 5% is 7.36%. So less than half like turning you turn your open tracking on, you got 16.15% reply rate.'

Takeaway:
  • Campaigns with open tracking on have higher top-end reply rates.
  • Open tracking may not significantly harm deliverability.
  • Consider keeping open tracking on to better analyze performance.

How to achieve double-digit reply rates?

Achieving double-digit reply rates can significantly enhance campaign ROI.

'The top 5% is 16.3%... So obviously, the work to be done is how do you get yourself closer to the top 10% enjoying double-digit reply rates.'

Takeaway:
  • Top performers achieve reply rates of 16.3%.
  • Focus on message quality and targeting to improve reply rates.
  • Segmenting your audience can help you reach double-digit reply rates.

What is the median reply rate?

Reply rates are critical for gauging the engagement and success of email campaigns.

'It's 0.48%.'

Takeaway:
  • The median reply rate across campaigns is approximately 0.48%.
  • Many campaigns receive very low reply rates, indicating room for improvement.
  • Focus on personalization and relevance to increase reply rates.

What open rates do top campaigns get?

Knowing what top-performing campaigns achieve can help set ambitious but realistic goals.

'Not bad. So it's 80.91. It's not bad. It's actually a good one. The top 10% is 72%.'

Takeaway:
  • Top-performing campaigns achieve open rates up to 80.91%.
  • Setting higher open rate targets can help align with top 10% performers.
  • Improving subject lines and deliverability can boost open rates.

What is the median open rate?

Understanding the median open rate helps us benchmark our campaigns against industry standards.

'It's 35.24%, meaning it's kind of depressing for me. Like, meaning like half of the campaigns that are running decent number of campaigns... They are less than 35% which clearly, I think they could benefit from more deliverability.'

Takeaway:
  • Jeremy analyzed thousands of campaigns and found that the median open rate is 35.24%.
  • If your open rate is below this, you may need to improve deliverability.
  • Targeting higher open rates can significantly boost your campaign performance.

Episode Info:

Title:
#377 - Cold Email Benchmarks & Stats for 2024
Episode Link:
Keywords:
Cold Email Benchmarks, Optimization Tips, 2024 Strategies
Episode Air Date:
September 24, 2024

Podcast info:

Show Name:
Cold Email Outreach
Author:
Jeremy Chatelaine and Jack Reamer
Owner:
Jeremy Chatelaine
Category:
Business - Marketing

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Is Gmail's Update Ending Open Tracking?

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Do tracking pixels affect deliverability?
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Can email signatures help with tracking?
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How to stay ahead of email client changes?
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Do plain text emails boost reply rates?
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Should you disable tracking for certain providers?
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Top 6 Cold Outreach Tips From 10 Years' Experience

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Why is it important to customize your message for each prospect?
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What makes your message stand out among competitors?
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How can varying your follow-up approach improve engagement?
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Why should you pay attention to overlooked elements like email signatures and follow-ups?
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How can hiring a consultant or agency improve your cold outreach?
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