Email and LinkedIn inboxes are exceptionally saturated and fiercely competitive. This is true across multiple industries, including life sciences. But here's the catch: cold email outreach can still work wonders for your business if you're among the top 5% of the craft. How do we know? Well, because it's been the engine of growth for us here at Outbound Pharma.
In this article, we'll be shining a spotlight on seven of the most common approaches we've come across, as well as the pros and cons of each.
Cold email outreach approaches:
The Problem-Solution approach
The "Mind If I Send Over More Info?" approach
The Curiosity/Teaser approach
The Calendly approach
The Social Proof approach
The Humorous/Engaging approach
The More Info Upfront approach
For each of these approaches, we will include an email example to better illustrate the differences. We will pretend to be a sales executive writing a cold email to a pharmaceutical executive. Our organization is an imaginary company called ABC SOLUTIONS, an FDA inspection intelligence platform that helps pharma manufacturers to gain insights for upcoming inspections by analysing an inspector report in detail such as looking at the 483s issued, CFR citations and warning letters. For the sake of simplicity, we will keep the email subject lines the same.
So let's dive right in.
1. The Problem-Solution Approach
The Problem-Solution Approach is a cold email outreach strategy that centers around addressing a specific pain point or challenge that your target audience may experience. You then craft your email to address this problem directly by presenting your product or service as the solution to that problem.
Pros:
By addressing a pain point that your prospect is facing, this approach immediately grabs their attention and makes your email more relevant.
It allows you to demonstrate the value of your offering by directly connecting it to the prospect's needs. This can make your solution seem indispensable.
It can be applied across various industries as long as you have a good understanding of the common challenges faced by your target audience.
Cons:
If not tailored carefully to each individual prospect, this approach will come across as generic, reducing its impact. Personalization is crucial.
Do you actually know their pain point, or are you just guessing? The truth is, you don't really know unless you know the person.
Since many salespeople use this approach, there's a chance that the prospect has heard similar pitches before. To stand out, you must add a unique and compelling element to your message.
Addressing the problem and a solution can make your email very long to read.
In summary, this is a powerful method in cold email outreach as it directly addresses a prospect's pain points and demonstrates the value of your offering. However, it requires careful personalization in ordeFr to be effective at engaging and converting leads.
2. The "Mind If I Send Over More Info?" approach
The "Mind if I send over more info?" approach is currently one of the most popular ones. Instead of immediately providing a link or detailed information in the initial email, which could hurt your deliverability, this approach starts by asking if the recipient would like to receive additional information.
Pros:
By avoiding including links or attachments upfront, this approach can enhance the chances of your emails reaching the recipient's inbox rather than being caught in spam filters.
It allows you to personalize your follow-up messages and content for those who express interest. This personal touch can increase engagement and responsiveness.
It respects the recipient's space and preferences by not bombarding them with information they may not want right away.
Cons:
Some recipients might find it inconvenient to have to ask for additional information when it could have been included in the initial email.
It adds an extra step to the sales process, which can be challenging, especially when your goal is to transition a positive response into a booked demo or a closed deal. Each added step can increase the likelihood of drop-off in the conversion process.
In summary, this approach has some advantages, but it may be perceived as unnatural by some recipients, and the added step of requesting more information can complicate the process of converting leads into meetings. Carefully consider your target audience's preferences and your specific goals when deciding whether to employ this approach in your cold email outreach efforts.
3. The Curiosity/Teaser approach
The Curiosity/Teaser approach relies on generating curiosity and intrigue in the recipient. Instead of revealing all the details in the initial email, you drop hints or provide a teaser about a unique opportunity or valuable information, prompting the prospect to open the email to learn more.
Pros:
Creates curiosity and intrigue, increasing the chances of getting a response.
Encourages the prospect to open the email to learn more.
Can be effective if the teaser is genuinely compelling.
Cons:
If the teaser is not compelling enough, the email may be dismissed as clickbait.
Some prospects may find it frustrating not to have immediate information.
It requires a strong follow-up to deliver on the teaser's promise.
This is an effective way to pique the recipient's interest and boost email open rates, as long as the teaser is compelling enough. It needs to strike a balance and deliver on the promised value in subsequent interactions to maintain the prospect's engagement and trust.
4. The Calendly approach
The Calendly approach is a cold email outreach strategy where the main request in every initial message is to schedule a meeting via your Calendly link. Instead of gradually building the conversation, you jump straight into asking the recipient to book a time for a meeting.
Pros:
This approach cuts to the chase, making it efficient for you as it gets right to the point.
You skip the back-and-forth of initial email exchanges and move directly to scheduling, potentially speeding up the sales process.
It leaves no room for ambiguity; the recipient knows exactly what you want from them.
Cons:
As you're requesting a significant commitment (e.g. a 30-minute meeting) right from the start, it can result in a low conversion rate. Most recipients are hesitant to commit so quickly, especially when they don't yet know you.
Sending a brief three-sentence email and immediately asking for a meeting is not enough for establishing trust and credibility with the recipient.
It might come across as impersonal and pushy, so most prospects do not reply.
This approach prioritizes efficiency and directness. However, it does not usually work very effectively in terms of reply rates, so it's essential to carefully consider your target audience and their preferences when deciding whether to use this approach in your outreach efforts.
5. The Social Proof approach
The Social Proof approach in cold email outreach relies on showcasing the success stories of previous clients or competitors who have achieved notable results with your products and services. It leverages these real-world examples to establish trust, credibility, and persuade the prospect of your offering's effectiveness.
Pros:
Provides concrete evidence of your product's effectiveness.
Establishes trust and credibility by showcasing real-world success.
Can be particularly persuasive if the success story is from a well-known company.
Cons:
You need permission from previous clients or competitors to use their success stories.
May not work well if the prospect is not familiar with the referenced client or competitor.
Still requires a compelling pitch beyond the social proof.
In summary, the Social Proof approach is a powerful strategy because it provides concrete evidence of your offering's effectiveness to build trust. However, it may not work well with prospects who are not familiar with the referenced clients. Works best if combined with a persuasive pitch that directly addresses the prospect's needs.
6. The Humorous/Engaging approach
The Humorous/Engaging approach in cold email outreach employs humor or an engaging tone to grab the recipient's attention and make the email more enjoyable to read. Instead of a standard and formal approach, this strategy aims to inject personality and creativity into the initial contact.
Pros:
It may stand out in the inbox and can be memorable.
Creates a positive impression by showing personality and creativity.
Can make the initial interaction more enjoyable for the recipient.
Cons:
Humor can be subjective, and what's funny to one person may not be to another.
It may not be suitable for all industries or audiences, especially in life sciences or with C-level executives.
Requires a balance to ensure professionalism is maintained.
In summary, this approach can be an effective way to stand out in cold email outreach by injecting personality and creativity into your messages. However, it comes with the challenge of subjectivity, suitability, and finding the right balance to ensure you are still perceived as professional.
7. The "More Info Upfront" approach
The "More Info upfront" approach focuses on using your initial email as a teaser to entice prospects into engaging with additional content, such as watching a recorded demo or reading a case study. Rather than immediately asking for a meeting, you aim to pique their interest by offering valuable information first.
Pros:
This approach typically asks for a lower commitment from prospects initially, making it more appealing and less intimidating. It's often easier for recipients to agree to watch a demo or read a case study than to schedule a meeting.
By providing valuable content like demos or case studies, you have the opportunity to showcase your expertise and establish credibility before making a meeting request.
You can tailor the content you offer to the prospect's specific needs and interests, making it a more personalized and engaging experience.
Cons:
It can be challenging to track who has viewed the demo or engaged with the content. This lack of visibility can make follow-up and lead nurturing more difficult.
While this approach can help build interest and credibility, it may still require several follow-up attempts to convert a prospect into a meeting
If the initial content doesn't captivate the recipient, they may lose interest before you have a chance to transition to a meeting request.
In summary, the "More Info upfront" approach seeks to engage prospects with valuable content before requesting a meeting. Its advantages include a lower initial commitment from prospects and the opportunity to build credibility. It's a strategy best suited for prospects who prefer a more informative and less immediate sales approach.
A Vision for Streamlined Outreach
What would our cold email strategy look like if we cherry-picked the most effective elements from various approaches, all while minimizing their shortcomings? Imagine a streamlined process, reducing the complexity for both us and our potential clients as we navigate the sales journey.
Accessing a demo, diving into case studies, and scheduling meetings should be a seamless experience, without the need for prolonged and resource-draining back-and-forths.
Our outreach, beginning with the first cold email and extending through subsequent materials and calendar booking, would be finely tuned to address each prospect's unique needs.
We won't overwhelm our prospects by leaping from a cold email to a 30-minute conversation in a single bound. Instead, we'll adopt a gradual approach to nurture their interest.
To fine-tune our strategy, we'll implement analytics that illuminate where leads drop off within the sales funnel. Armed with this data, we can optimize each step and re-engage leads precisely where they disengage.
Our outreach won't clamor for attention amidst the inbox chaos through typical AI gimmicks. Instead, it will shine as a beacon of relevance and personalization.
This dream encapsulates Outbound Pharma's vision. At its core, we offer the best tools and strategies for crafting tailored emails and customized experience for each outbound lead.
Key takeaway
Cold email outreach is a dynamic field with various approaches, each offering its own set of advantages and disadvantages. As we've explored these seven different strategies, it's clear that there is no one-size-fits-all solution. Instead, the effectiveness of your cold email outreach largely depends on your target audience, your goals and timelines, and your ability to adapt and personalize your approach.
In the end, any successful email campaign requires ablend of creativity, data-driven decision-making and a deep understanding of your prospects. The key takeaway here is not to rely solely on a single method but to experiment, iterate, and refine your approach over time.