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- 🌊 Wave #9: Is the cold email dead?
🌊 Wave #9: Is the cold email dead?
By Andrew Mewborn
Hey, Surfers. You look great today.
We just launched Limelite on Product Hunt. Mind giving us an upvote?
There are also 3 quick tips down below. Hope you enjoy them.
🌊 HIGH-TIDE
Is the cold email dead?
Read 222 words below
When's the last time you've received a response to a cold email?
For me, it's been a while.
So we could sit here and do cold email teardowns all day long.
But, we are starting to see a shift.
Many organizations are making the shift to digital. The number of cold emails decision-makers receive is increasing exponentially.
What are companies doing?
My take: Don't rely on the cold email to get you the meetings.
Come up with a low-cost product that provides high value for your prospects.
For example:
- Outreach recently launched cold email grader
- Recorded Future relies on an automated newsletter that has attributed to 40% of new logo revenue
- I built Limelite to provide value to my potential prospects
We will continue to see a shift. Organizations will build or invest in low-cost, high-value products to drive pipeline.
So next time you look at your reply rates, the solution may not be another cold email.
Instead, Russell Brunson has a methodology called "The Value Ladder". TL;DR - in today's world you need to have prospects climb up the value ladder. It looks like this:
- Low-ticket priced item
- Medium-ticket priced item
- High-ticket priced item
Let's say your product costs $150/user/month. What's a low ticket priced item you can sell to ease prospects into your medium or high-ticket priced item?
🌊 MID-TIDE
How to read a 10K transcript for Revenue Surfing Members
Read 179 words below
If you’ve not added the 10K to your sales arsenal, you’re missing out.
What’s a 10K? It’s a document that public companies are required by the SEC to publish every year. And it’s a report that provides transparency into how a company is performing.
It’s all there. Risks, deals, mergers, acquisitions, management discussions, and financial reports. And if you use it the right way, it can be a crucial tool in your sales toolbox.
But you’ve got to know how to use it. How to read it. How it’s organized. And that’s where Jamal Reimer comes in. Jamal was our guest on this special episode of the Sales Engagement podcast. Special because it’s not an audio podcast. Jamal was nice enough to use Zoom to walk us through how to read and use a 10k report.
But Jamal walked us through:
What a 10K actually is
The 4 major areas of every 10K
Why the quarterly analyst calls are a goldmine if you’re looking for information on a company.
I have the transcript available for revenue surfing members below 👇
🌊 LOW-TIDE
How to leverage your podcast to build pipeline
Read 258 words below
This is going to sound so simple, you'll be like "Why haven't I been doing this the entire time?"
I've been fortunate enough to host CMOs, CROs, VPs, on the Sales Engagement Podcast for a while now.
And, I made a mistake early on. I didn't ask the magic question at the end of the podcast....
Ready for it?
"Who are 3 other XYZ leaders that people should keep an eye on?"
The podcast guest will pick their top 3 mentors, mentees, heroes.
Now, you take those 3 people and contact them via email/Linkedin:
Subject Line: Steve Jobs mentioned to keep an eye on you
Body:
"Hey Sally - hosted Steve on the podcast and he mentioned you were 1 of his top 3 people to keep an eye on. Would love to have you on the podcast as well.
Here's a link to the episode if you are curious."
My response rate on this right now is 87%. And, higher with marketing leaders ;) So if you sell to marketers this will work well for you!
Now, you host Sally as a guest. After your recording is over and you debrief, go in for the soft ask in learning more about your product. Chances are, she'll say yes if you had a great recording!
Zoom out: after hosting Sally she's also given you 3 of her favorite people.
Now after recording 2 episodes, you have 6 prospects to target with a high likelihood of getting a reply. Why? FOMO. That’s why. Friends want to do what other friends are doing.
I'm going to coin this tactic as THE PODCAST FLYWHEEL.
Try it. Let me know how it goes.
PS - This can be the "low-value" product mentioned above to generate pipeline ;)
This newsletter was created with 💙 by Andrew Mewborn, a solution seller, SaaS enthusiast, and creator of getlimelite.com. Connect with him on LinkedIn.
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