Cold Email Challenges: 3 Steps to Client Acquisition

You might be doing it the wrong way around...

Many B2B and eCommerce companies launch, and immediately go full blast into cold emails.

After all, it’s a numbers game, right?

Yes and no.

Whilst cold email still works in 2024 (and likely into 2025), not all emails are equal.

When was the last time you answered the phone from an unknown number?

If you’re anything like me, you’ll likely let it ring to voicemail (if it’s urgent, they’ll leave a message).

Cold emails are the same, most won’t even open your email (if it’s urgent, they’ll ring and leave a voicemail!)

This is where it helps in taking a step back and thinking more logically about client acquisition strategies...

The lead generation pyramid

It’s best to think about lead generation as a strategy resembling a pyramid (yes, I know pyramids are a cliché in B2B but stay with me).

At the bottom of the pyramid are the foundations. These are the people who know you. They’ve bought from you, they’re your current customers, or they know you well as a friend.

These are the easiest people in the world to sell to.

Why? Because they trust you. They like you, which means they like your ideas and (hopefully) your business offering.

Some businesses neglect this group of people and put it down to natural churn. 

Don’t do that! According to Havard Business School, “a 5% increase in customer retention rates results in a 25% - 95% increase in profits.”

Do the math, these people should be your priority.

The middle

Sure, many businesses don’t fall foul of concentrating on their existing customers.  However, a lot of them still skip the middle part of the pyramid and go straight to freezing-cold email.

The middle of the pyramid is your lukewarm leads. These are friends of a friend or someone who may have visited your website or social page.

They kind of know you and they have some idea of what you’re about.

They’re that person who you give the awkward ‘white guy smile’ on the street as you pass them.

Awkward as that might be, these people aren’t going to completely ignore you.

They’ll hear what you have to say because they have some idea of what you’re about.

These people might be visiting your website every single day but never quite pull the trigger to purchase or sign up for your newsletter.

This is a huge proportion of potential clients who know what you are.

You occupy a piece of their mental real estate and this is huge.

You need to run consistent campaigns to target these people.

This is the genesis of Leadpipe. 

It’s cold at the top

It’s slim pickings at the top because it gets so cold up there.

You’re relying on email deliverability, hooks and conversion rates. 

It’s doable, but it takes a lot of work and more emails than you think!

This is what so many B2B businesses get wrong with acquisition strategies. They rush straight to the top without finding the treasures along the way.

Cold email still works in 2024, but it should be the last thing that you think about as a business, not the first one! 

Putting it altogether

The roadmap is therefore simple:

1. Focus on client retention and selling to past customers
2. Ensure that you retarget lukewarm leads by using tools such as Leadpipe
3. Once systems are in place that look after the bottom and middle of the pyramid, THEN look at cold email strategies

Want help with the middle? 

Sign up for a free no-strings trial to Leadpipe today!

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