When looking to connect with new prospects and leads, two popular outreach methods are cold emailing and cold messaging on LinkedIn. But which method is more effective? Here we’ll compare the pros and cons of each approach to help you determine which is better for your needs.
What is Cold Emailing?
Cold emailing refers to sending unsolicited emails to prospects you have no existing relationship with. The goal is to introduce yourself and your business and encourage the recipient to learn more. Cold emailing is commonly used for sales prospecting, lead generation, and marketing outreach campaigns.
Here are some key things to know about cold emailing:
- Emails are sent to purchased lead lists or prospects researched based on criteria like job title, industry, company size, etc.
- Success depends on the quality of the email list, compelling subject lines, and personalized, value-driven content.
- Open and response rates are typically low, often less than 5-10%. High volume is needed to achieve results.
- Emails may be perceived as spammy or irritating if not carefully crafted and targeted.
Pros of Cold Emailing
When done correctly, cold emailing offers several benefits:
- Cost effective – Email marketing has a relatively low cost compared to other forms of marketing and lead generation.
- Scalable – Email campaigns can easily be automated and scaled to reach thousands of prospects.
- Measurable results – Open rates, clicks, and conversions can be closely tracked.
- Personalization – Emails allow you to segment and customize messages for individual prospects.
- Brand building – Well-crafted emails showcase your brand, products, and services.
Cons of Cold Emailing
There are also some potential downsides with cold emailing to be aware of:
- Low response rates – Even well-executed campaigns average less than 10% open rates.
- Spam filters – Many emails end up blocked or in spam folders before reaching the recipient.
- Requires testing & optimization – Subject lines, content etc. require continual A/B testing.
- Time investment – Researching and compiling email lists is labor intensive.
- Compliance issues – Concerns around permissions, privacy, and anti-spam laws.
What is LinkedIn Cold Messaging?
Cold messaging on LinkedIn refers to sending connection requests and messages to prospects you have no prior relationship with. The goal is to establish a new connection that can lead to a productive business conversation.
Here are some key things to know about LinkedIn cold messaging:
- Messages are sent via LinkedIn’s messaging platform to prospects matching target criteria.
- Success depends on an optimized LinkedIn profile, compelling message content, and appropriate targeting.
- Response rates vary but tend to be higher than cold email at 10-30%.
- Messages may be ignored or perceived negatively if viewed as promotional.
Pros of LinkedIn Cold Messaging
The unique advantages of LinkedIn cold messaging include:
- Leverages LinkedIn data – Target prospects based on LinkedIn profile data like job role, skills, interests etc.
- More personalized – Messages can be tailored using profile background to establish common ground.
- Builds relationships – Human interaction can more effectively establish an initial connection.
- Free – No costs beyond time invested in identifying prospects and crafting messages.
- Higher engagement – Prospects on LinkedIn may be more receptive to message than an unsolicited email.
Cons of LinkedIn Cold Messaging
The potential limitations to evaluate include:
- Time investment – Personalizing and customizing each message is labor intensive.
- Low volume – Reaching hundreds or thousands of prospects may not be feasible.
- Restricted targeting – Limited mainly to job title and geography without list purchase.
- Compliance risk – Potential for account restrictions if messages are perceived as spam.
- Limited analytics – Can’t track opens or other email marketing metrics beyond send volume.
Comparing Response Rates
One of the most important metrics in evaluating cold outreach methods is the response rate. How often does the outreach result in a reply, conversion, or positive engagement from the prospect?
While response rates vary widely based on factors like message quality and list targeting, here are some typical benchmark response rates:
Outreach Method | Typical Response Rate |
---|---|
Cold email | Less than 10% |
LinkedIn cold messaging | 10-30% |
As shown above, the response rate for LinkedIn messages tends to be higher on average compared to cold email.
Comparing Open Rates
Another useful metric is open rate – how often do prospects open the cold message or email?
Average open rates are:
Outreach Method | Typical Open Rate |
---|---|
Cold email | 10-20% |
LinkedIn cold messaging | Not trackable |
One advantage of cold email is the ability to track open rates, which average 10-20%. LinkedIn messages don’t allow this tracking, but the expectation is most messages are opened if they make it past spam filters.
Comparing Costs
The costs involved in each cold outreach method also require comparison:
- Cold email costs – Cost of email list purchase, email tool/service subscription fees, staff time invested.
- LinkedIn costs – No hard costs beyond staff time invested. Premium LinkedIn account not required but can provide added targeting capabilities.
Cold email carries more significant hard costs, primarily driven by email list purchase. LinkedIn messaging is essentially free beyond the staff time investment required.
Comparing Personalization
The ability to personalize messages is key factor as well. Here is how the tactics compare:
- Cold email – Limited personalization typically focused mainly on first name and company. Content tends to be generic.
- LinkedIn messaging – Full profile visibility enables deeper personalization and contextualization based on background, role, interests etc.
LinkedIn messaging enables significantly greater opportunity to tailor and personalize messaging using profile information.
Conclusion
So in summary, here are some key considerations when evaluating cold email vs LinkedIn cold messaging:
- LinkedIn messages have higher average response rates.
- Cold email allows open rate tracking unlike LinkedIn.
- Cold email carries more costs, particularly for list purchase.
- LinkedIn enables greater personalization leveraging profile data.
Ultimately there is no universally superior tactic. The best approach depends on your goals, target audience, resources, and capabilities around executing each strategy effectively.
Often a well-rounded approach combining both cold email and LinkedIn messaging is most effective. This allows you to maximize reach and leverage the unique advantages of each platform.
The key is testing response rates for each strategy and optimize messaging, targeting, follow-up sequences, and integration between platforms. With continual refinement, an omni-channel cold outreach program can deliver significant returns.