Successful modern sales teams need to be incredibly metrics driven. Metrics help teams decipher if they’re on their way towards quota and where they still have work to do.
That said, a common problem is that many variables go into these metrics beyond the surface level contributing factors so it can be hard to get the full story. It means that the market accepted “normal” rates for many common metrics are much lower than you would expect.
For example; the accepted open rate for sales emails is 30%. This accepted reality is far too low and there absolutely is a better way.
Wait, 30% open rate? Really?
30% does seem rather low, doesn’t it? By that logic, far less than half of all prospects are opening sent emails. It’s not far-fetched to attribute the much-maligned blast-based selling techniques to this problem. If less than half of potential clients will be opening emails, why not send 600 non-personalized emails? Who has time to personalized 600 emails?
Let’s think about why 30% is the accepted benchmark.
Why is 30% considered good?
When thinking about it, many more factors go into open rate besides whether or not there’s a convincing enough subject line (although it certainly helps!).
If you find that your emails are bouncing more often than not and that deliverability is a large hurdle for your team, your open rates are automatically going to be lower simply because people just aren’t receiving your emails. Many of these pain points will start and end with bad data. Incorrect contact information limits your ability to sell and decreases your open rates.
SDRs’ ability to sell through email purely depends on whether or not prospects are opening messages. Fewer emails opened means fewer meetings and less closed business.
How can we beat 30%?
If you’re throwing your hands in the air and telling yourself “there must be a better way!”, you are not wrong. The fix may actually not be as difficult possibly imagined, just ask our friends at ProsperWorks.
First, ask, “where am I getting my data?” and “is that data reliable?”. If high bounce rates and deliverability are current struggles, that answer is “not reliable”. The quality of leads directly correlates to deliverability and open rates. Once the previous question is answered, start looking at messaging content and doing fun things like A/B testing subject lines.
Just by switching tools, ProsperWorks achieved open rates up to 95%. In comparison to the industry average of 30%, that sounds absolutely wild, but it shouldn’t! Quality lead data and the ability to test your work is all you need. You can read their full story here.