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How To Achieve a 30% Reply Rate on Cold Emails with Hull, Paddle, Outreach, & GoodFit

Average email reply rates can vary greatly, but some suggest they can hover around 1-5%. When Paddle, UK’s fastest growing software company, went to market with an outbound email strategy, they blew those numbers out of the water, consistently achieving reply rates of 30% or higher.

In this webinar, we’ll dive into how the Paddle team executed their outbound strategy to catapult their success. Topics covered include:

- Paddle’s phased approach
- What data they required and how they sourced it
- The tools and technologies used
- Best practices learned along the way

We encourage anyone with responsibility for B2B marketing, sales, revenue ops, growth, and customer data management to watch the reply of this engaging 1-hour webinar.

Replay: https://www.hull.io/blog/webinar-recap-paddle-30-percent-reply-rate-cold-emails/

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How To Achieve a 30% Reply Rate on Cold Emails with Hull, Paddle, Outreach, & GoodFit

  1. 1. How to Achieve a 30% Reply Rate on Cold Emails Thank you for joining! The live broadcast will begin shortly after 2:00 PM to accommodate last minute attendees. PRESENTED BY
  2. 2. Before we begin ● Got questions? Use the Questions module! ○ We’ll address questions throughout the presentation ○ If we have time at the end, we’ll run through a few more ● Webinar replay will be sent to all registrants within 48 hours
  3. 3. Speakers Tim Liu Head of Product Harrison Rose Co-founder Aleksander Bury Founder at GoodFit and former Head of Commercial Ops at Paddle Brooke Bachesta Senior Manager of Sales Development
  4. 4. Paddle’s phased approach Setup & Gather Data 1 Activate 2 Analyze & Iterate 3
  5. 5. Paddle’s approach: Phase 1 SETUP & GATHER DATA Map the total addressable market, refine audience Enrich accounts and prospects with data Load and transform data in Hull Build real-time segments in HullSetup & Gather Data 1 STEPS IN PHASE 1:
  6. 6. Map the TAM, then refine your audience ● Any outbound strategy begins with knowing who you’re going to target, knowing your Total Addressable Market ● TAM = Prospects that have an actual need for your product ● Relying on industry & revenues when identifying TAM is not enough ● You also need to refine your audience and source data points that fit your ICP SETUP & GATHER DATA
  7. 7. Enrich accounts and prospects with data Reason #1: Prioritization Identifying accounts that are most likely to buy your product and ordering them accordingly Reason #2: Hyper-Relevance Sending messaging to prospects that identifies the pains or needs they have SETUP & GATHER DATA
  8. 8. Unify, then transform data in Hull ● Hull ingests data from all sources through native integrations or webhooks ● Data transformation step turns raw data into usable information ● Data transformation examples: ○ Generate an “average employee headcount” number ○ Parsing technographic data to extract technology you care about What is the Hull Processor? A real-time editing environment for your customer data, the Hull Processor lets you compute new attributes from existing data and update customer records on the fly. The Hull Processor supports use cases like: ● Data cleansing and reformatting ● Data enrichment ● Custom mapping ● Custom scoring for contacts and accounts ? SETUP & GATHER DATA
  9. 9. Diving deeper: Segmentation in Hull Build segments based on: ● Account and people attributes ○ Industry, employee count, technographics, business model, years since founding, job title, status, etc. ● Behaviors and interactions ○ URL visited, # of website visits, email opened, email clicked, app logins, etc. Segments are generated in real-time, with data pulled from any tool connected to Hull. SETUP & GATHER DATA
  10. 10. Build real-time “micro segments” in Hull ● Two key requirements: ○ Segments had to be so specific to elicit the response rates they were aiming for ○ Segments had to be dynamic (generated in real-time) to accommodate for changes in the data ● Needed to avoid “data deterioration” ○ Email messaging based on stale data could lead to unsubscribes and potential lost business SETUP & GATHER DATA
  11. 11. Phase 1 recap & questions Setup & Gather Data 1 SETUP & GATHER DATA Map the total addressable market, refine audience Enrich accounts and prospects with data Load and transform data in Hull Build real-time segments in Hull STEPS IN PHASE 1:
  12. 12. Paddle’s approach: Phase 2 Write emails Build sequences Send! Activate 2 ACTIVATE STEPS IN PHASE 2:
  13. 13. Running Account Based Prospecting with Outreach ● Tandem prospecting ● Types of sequences ○ Automated ○ Manual ○ Call Heavy ○ Personalized ACTIVATE
  14. 14. Sequence Type - Automated ● Completely automated. Leverages emails. No calls or generic tasks ● Used sparingly when casting a wide net or for intel. gathering ○ Automated Referral Request ○ Intel gathering ACTIVATE
  15. 15. Sequence Type - Call Heavy ● Extra calls (50%+ of sequence is call) ● In some cases, we have “call only,” and the ruleset allows for “double sequencing” ● Great for target accounts ACTIVATE
  16. 16. Sequence Type - Manual ● Template + variables that require research ● Great for persona specific, industry generic ● Fantastic way to ramp up new reps into “personalization” ACTIVATE +
  17. 17. Sequence Type - Personalized ● Blank email or sparse template with bare bones value prop as first message ● “Varsity” level ● Leverage things like: ○ Self authored content ○ Linkedin profile self descriptions ○ Relationships/Insights ACTIVATE
  18. 18. ACTIVATE
  19. 19. Diving deeper: Creating email variable tags using Hull data transformation {{Uplift On Increased Conversions}} generated by parsing revenue into degree of impact. I.e. if less than $1M then ‘tens of thousands’. {{Percent Traffic Outside North America}} calculated by obtaining global web traffic counts as well as web traffic counts in the USA and Canada. {{Top Currencies}} generated by identifying top 3 countries driving web traffic to that domain - Currencies that are already supported. ACTIVATE
  20. 20. Phase 2 recap & questions Write emails Build sequences Send! Activate 2 ACTIVATE STEPS IN PHASE 2:
  21. 21. Paddle’s approach: Phase 3 Measure initial results in Outreach Next-level reporting with Hull and data warehouse Analyze & Iterate 3 ANALYZE & ITERATE STEPS IN PHASE 3:
  22. 22. Brass tacks: Are we doing the right activities? ANALYZE & ITERATE
  23. 23. Digging In: Are the right sequences being used? ANALYZE & ITERATE
  24. 24. Next-level reporting with a data warehouse Performance Analysis ● Response rate is a great leading indicator ● Analyzing your opportunity creation and win rates Iteration ● Redefining your segments and identifying new sub-segments ● Understanding your customer journey ANALYZE & ITERATE
  25. 25. Phase 3 recap & questions Measure initial results in Outreach Next-level reporting with Hull and data warehouse Analyze & Iterate 3 ANALYZE & ITERATE
  26. 26. Recap: Paddle’s phased approach Setup & Gather Data 1 Activate 2 Analyze & Iterate 3
  27. 27. Final questions? PRESENTED BY
  28. 28. Thank you! Tim Liu Head of Product Harrison Rose Co-founder Aleksander Bury Founder at GoodFit and former Head of Commercial Ops at Paddle Brooke Bachesta Senior Manager of Sales Development hull.io paddle.com goodfit.io outreach.io

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