Emailing prospects is a crucial part of the deal origination process. However, it is an area where many private equity firms are struggling to find tangible results in responses or conversions, particularly when using cold emails. A cold email refers to the initial introductory email sent to a prospect to potentially create a relationship and gain a specific benefit like sales or an investment opportunity.
Cold email marketing is very effective in link generation, networking, and brand awareness, but it’s also quite challenging since many cold emails don’t get any response. Read on to discover the common mistakes to avoid when using cold emails for deal origination.
People have become accustomed to getting unexciting emails in their inboxes, and many ignore or delete them. One major contributor to this is generic or robotic templates that seem to be used for multiple prospects while focusing on selling rather than relationship building. That is why it is more critical than ever to send thoughtful, relevant, and well-crafted emails to avoid being overlooked by your prospects.
Email personalisation helps to build trust and gives you a greater chance of getting responses and booking meetings. The goal is to make potential prospects believe your firm carefully wrote the email for them by addressing their specific pain points or needs. Essential information about your firm’s vision and solutions may stay the same across multiple emails, but ensure to customise your offer using your prospect’s data to build credibility.
Most prospects will likely scan through your email before reading it. Hence, try your best to keep your emails short and easy to read. The key is to have a concise message that showcases how you can help the prospect.
Here is an example of a good email structure:
Failure to build good credibility and trust with the target audience can also be a massive hindrance to the effectiveness of your cold emails. Social proof helps prospects understand why they should trust your business and gives you a better chance of success.
Here are three key areas to point out in your cold email to help showcase social proof:
Keep your B2B emails as simple and plain as possible, and avoid using excessive links. It will improve readability and ensure high deliverability since spam filters don’t like emails with excessive links. The best practice when using links is to put one at the end of the email in your signature and also ensure that it’s working correctly to direct the prospect to your homepage.
Leave all the cold emails and deal sourcing work to the experts at GVP, and we guarantee to get you the best deals to grow your private equity firm. Contact us today for more information.