7 Email Secrets to Drive Deals Forward
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7 Email Secrets to Drive Deals Forward Michael Haylon, Director of Sales, Yesware Sales Hacker Series - San Francisco February 2015
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7 Email Secrets to Drive Deals Forward
- 1. 7 Email Secrets to Drive Deals Forward Mike Haylon – Director, Sales mhaylon@yesware.com @mhaylon | linkedin.com/in/mikehaylon
- 2. Bad sales emails cost you money
- 3. But there’s almost no data to support all the assertions out there about “best practices”.
- 4. • You follow up (time cost) • You forget (deal cost) Each missed reply has costs
- 5. • 5,000 - 50,000+ emails/year • 800 - 1,000+ hours/year in email (plus voicemails, setting tasks, etc.) • Now add that up across your entire team (or division or company…) Bad email costs compound
- 6. Whom What When How many Recipients Subject line Send time Emails to send What we’ll cover
- 7. “Here’s the magic template to close 10 deals this week!” “Just use this simple trick and get 98% replies!” What we won’t cover
- 8. • More than 1,000 Yesware users (anonymized and used with permission) • 9 rapidly growing, inside sales-focused software companies • Over 500,000 sales emails • Q1 2014 Here’s the data
- 9. Include multiple recipients (but only one in the “To” line) EMAIL SECRET #1
- 10. Open Rate Reply Rate Send to one and copy another 83.7% 61.2% Send to two recipients 70.2% 49.3% Number of recipients
- 11. Subject line length doesn’t matter EMAIL SECRET #2
- 12. Company A Company B Open/reply rate by subject line length
- 13. The wrong keywords cost you meetings EMAIL SECRET #3
- 14. Open Rate ReplyRate Meeting keywords by open/reply rate
- 15. You may be sending emails at the wrong time EMAIL SECRET #4
- 16. Reply Same Day Rate Reply Rate Reply rate by send time (Note: Send time = recipients’ time zone)
- 18. If they don’t reply today, they (probably) won’t reply at all EMAIL SECRET #5
- 19. Days until first open/reply
- 20. You’re not following up enough EMAIL SECRET #6
- 21. Your chance of receiving a reply reply on THIS email is... However, 57% of sales email chain stopped at the first one… Follow up emails
- 22. Testing templates can improve reply rates >10x EMAIL SECRET #7
- 23. Best practices: 1. Identify the top performing templates. 2. Understand why they worked well. 3. Share the good templates. ReplyRate Templates Open Rate
- 24. Increase call connection rate 34% by calling when emails are opened BONUS: CALLING SECRET
- 25. 7 EMAIL SECRETS 1. Include multiple recipients (but “To” just one) 2. Subject line length doesn’t matter 3. Bad keywords cost you meetings 4. You’re sending emails at the wrong time 5. If they don’t reply today, they (probably) won’t 6. You’re not following up enough 7. Testing can improve template replies >10x * Bonus: Increase call connection rate by 34% by calling when you see an email open
Editor's Notes
- Anecdotes (“this got me a big meeting!”) Intuition (“think about it!”)
- Following up requires: Setting tasks (you might forget) More tasks = more clutter Write another email and/or make a call Repeat (more chances to forget/lose deal) More time slows deal momentum, opens window for competitors, etc.
- No quick fixes or universal answers. Let the data guide you!
- More recipients = more opens/replies (intuitive) Why CCing matters: One person is responsible.
- Don’t worry about length. Just get the keywords right.
- Calendar is worst performer by far. Call/meeting/time all similar in open rate, but significant difference in reply rate. Even 5-10% is huge over hundreds of emails/year.
- Early morning makes sense with mobile. Check email upon waking up and/or on train. 9am uptick. Checking email upon arriving at work. 1pm uptick. Checking email after lunch + fewer meetings. Evening: Checking email on train, later at work means fewer meetings.
- Small volume improves open/reply rate. Your email gets noticed.
- Key takeaway = importance of cadence. Follow up at tighter intervals. After 1 day, it’s gone. Doesn’t mean you want to FU every day (could piss people off), but 3 days or so is probably fine.
- At some point, the law of diminishing returns kicks in. Built reminders & scheduled mail merge for this reason: - Schedule a series of 10 emails to go out (with reply checking) - effort to send 10 emails isn’t much greater than 1 (once you have your templates in place)
- Important to use good templates but also... Are there lessons to apply to other templates at different stages?