I run a small B2B services agency, cold email is our primary growth channel. Six months ago i was stuck at a 2% reply rate and burning through domains. today I'm at 15% across 3,000 emails per month. Here's exactly what changed, what didn't, and what I'd do differently.
What I Was Doing Wrong
Sending 200 emails/day from 2 domains. Templates segmented by industry and company size. Standard follow-up sequence at day 1, 3, 7, and 14. Open rates were fine. Almost nobody replied.
the core mistake: industry + company size targeting means you're sending the same email as every other SDR on the planet. my prospects were getting 20 identical emails a week.
The Four Changes That Moved the Needle
- Intent-based targeting (2% to 8% reply rate)
Instead of 'SaaS companies with 50-200 employees,' I built scrapers that watch for behavioural signals. Companies that just posted a sales job opening. Companies that raised a round in the last 60 days. Companies whose competitor just published a case study. LinkedIn activity spikes from the founder.
Each email references the specific trigger. 'Saw you're hiring your first Head of Sales. Most teams at that stage struggle with pipeline quality, not volume.'
People reply when you're talking about something they're actively thinking about right now. Industry + size is what they thought about last quarter.
- AI-personalised opening lines (8% to 13% reply rate)
The system reads the prospect's recent LinkedIn posts, company news, and public interviews. The opening line references something they specifically said or did in the last 30 days. not 'great article on LinkedIn' but 'Your point about outbound being broken resonated. The fix isn't more emails, it's better signals.'
Templates are obvious. Real personalisation breaks through because nobody does it at scale.
- Own email infrastructure (deliverability and cost)
Moved off commercial tools charging $3-4 per inbox per month. Set up on Google Workspace and Microsoft tenants. Each inbox costs about 5 cents. At 3,000 emails across 10 inboxes that's $0.50 per month in infra costs.
more important than the cost: your domains aren't pooled with spammers. your sending reputation is yours to control. You warm up on your own schedule. this is not easier than using a tool. DNS, SPF/DKIM/DMARC, and domain warming are real work. But at any real sending volume the control is worth it.
- Reply intent classification (handling replies at scale)
Once replies started flowing I hit a processing bottleneck. interested, not now, out of office, angry unsubscribe, meeting request, objection. all need different responses.
Built a routing layer that classifies incoming replies into 8 buckets and triggers the right follow-up for each. an AI agent handles scheduling for meeting requests so there's zero back-and-forth on availability. the kill rate dropped because 'not now' replies got a soft nurture instead of a pushy follow-up.
What Did NOT Work
Video in emails. Reply rates didn't budge and some spam filters flag embedded media. 'Quick question' subject lines. Same performance as descriptive subjects. More than 3 follow-ups. Reply rates on email 4 and 5 were near zero. you're just burning domain reputation. Company-level personalisation. 'Congrats on the Series A' from a stranger is transparent. Individual-level personalisation is what works.
Current Numbers
3,000 emails/month across 10 inboxes. 15% reply rate (about 450 replies). Roughly 25% of replies convert to meetings (110 meetings/month). Infrastructure cost: about $80/month in API credits and domain fees. Team of 1 managing the system plus 1 closer.
What I'd Do Differently
Start with intent-based targeting from day one instead of spending 3 months optimising templates. Templates matter way less than who you're emailing and why they should care right now.
Also start multi-channel sooner. Email alone works, but email plus LinkedIn mentioning the email in a connection request pushes reply rates further. Multi-channel reply rates are consistently 3-5x higher than single-channel in my testing.
What is the one variable you've tested that surprised you the most? Something you expected to matter that didn't, or something trivial that moved the needle hard?