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    • How To Overcome Objections As A Financial Advisor (The Right And Wrong Way)
    • 7 Priceless Tips For Financial Advisors Who Want A "Lifestyle" Practice
    • 9 Research-Backed Stress Management Tips For Financial Advisors (That Actually Work)
    • 3 Powerful Ways Financial Advisors Can Use Webinars To Get More Clients
    • 10 Catastrophic Ways Financial Advisors Sabotage Their Own Success
    • These 5 "Weird" Tips Can Help Financial Advisors Form Better Habits
    • 5 Financial Advisor Follow-Up Tips (That Won't Annoy Prospects)
    • How Financial Advisors Can Write A Book (And Use It To Get Clients)
    • 7 Ways To Make Your Financial Planning Firm More Profitable
    • 7 Actionable Goal Setting Tips For Financial Advisors
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    • How Hard Is The CFP® Exam? (Plus 5 Of My Favorite Tips To Help You Pass)
    • 10 Insurance Marketing Tips, Ideas, and Strategies (That Actually Work)
    • How to Become a Financial Advisor In 5 (Not So Easy) Steps
    • How To Make Six Figures As A Financial Advisor
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    • 12 Best Financial Planning Questions to Ask Clients
    • 5 Online Reputation Management Tips for Financial Advisors
    • Here's Why Clients Fire Financial Advisors
    • 5 Things Financial Advisors Should Never Do With Their Clients
    • 9 Cold Email Tips for Financial Advisors
    • 7 Tips for Avoiding Burnout as a Financial Advisor
    • 9 Tips for Creating a Financial Advisor Business Plan
    • 7 Must-Know Google Ads Tips for Financial Advisors
    • 7 Awesome Tech Tools for Financial Advisors
    • 10 Insurance Email Marketing Mistakes You Need to Avoid
    • 12 Facebook Marketing Tips for Financial Advisors
    • 3 Lessons From An Advisor Losing $1,000 Every Day
    • 7 Easy & Actionable Social Media Marketing Tips for Financial Advisors
    • 7 Door-to-Door and Cold Knocking Tips for Financial Advisors
    • 5 Things People Really Want From Financial Advisors
    • 5 Client Loyalty Strategies to Help You Retain More Clients
    • 7 Client Referral Ideas to Help You Get More Referrals
    • 8 Tips for Attracting UHNW Clients (With Proof That They Work)
    • Top 10 Best Books for Insurance Agents (2020)
    • 15 Financial Advisor Prospecting Ideas & Techniques That Work!
    • 11 Awesome Client Appreciation Event Ideas for Financial Advisors
    • Life Insurance Leads - Should You Buy Them?
    • 5 Ways Financial Advisors Can Improve Direct Mail Marketing Results
    • 7 Reasons You'll Fail as an Insurance Agent
    • 7 Horrible Insurance Marketing Ideas
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    • Social Media Tips for Financial Advisors: Experts Weigh In
    • The Secret Behind Awesome Financial Advisor Value Propositions (Plus Examples)
    • 5 Tips for How to Sell Insurance Over the Phone
    • 15-Step Client Onboarding Checklist: Onboarding Process for Financial Services
    • The Best CRM for Financial Advisors (CRM Software for Financial Services)
    • 10 Actionable Seminar Marketing Tips for Financial Advisors (That Actually Work)
    • 9 Effective Appointment Setting Tips for Financial Advisors
    • 19 Financial Advisor Email Marketing Tips
    • 5 Ways to Overcome Call Reluctance
    • How to Handle Rejection In Sales: Overcoming Your Fear of Rejection
    • 7 Reasons Why Most Financial Advisor Websites Are Terrible
    • 27 Financial Advisor Marketing Ideas & Strategies That Work!
    • How to Become a Successful Financial Advisor: Your First Year
    • Top 10 Best Books for Financial Advisors
    • 7 Fatal Prospecting Mistakes You Can't Afford to Make
    • 5 Ways to Generate Leads Without Cold Calling
    • 7 Ways Prospecting Is Like Dating
    • 5 Reasons Why You're Not Getting Referrals
    • 5 LinkedIn Tips for Financial Advisors (Plus 3 Things They Should Be Tracking...)
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Woodpecker Cold Email Review (Don't Try It Until You Read This...)

Woodpecker cold email review

​This post may contain affiliate links.

I’m writing this review of Woodpecker’s cold email tool for two big reasons.

Reason 1: A lot of people have emailed me asking if I consider cold email a viable sales strategy, and…

Reason 2: Cold email is a large part of my own business, and Woodpecker makes it freaking awesome.

First, let me explain how I use cold email for my own products and services. I’m literally going to spell everything out for you.

I sell a $997 product called Financial Advisor Marketing Mastery. It’s an online course that is sold specifically to… you guessed it… financial advisors.

So, wouldn’t it be great if I found a way to contact hundreds of financial advisors every single day?

I could hire a full-time salesperson. Or I could hire a freelance telemarketer. Been there, done that. Let’s say I pay someone $20 per hour to make cold calls to financial advisors. It would take them all day long to call 100 people. Out of those people, maybe five or six would answer and show interest in the course.

I could send out direct mail. Been there, done that too. In fact, I still send out direct mail on a regular basis. But boy, does it get expensive. It costs me about 90 cents to send a piece of mail (and that’s like absolute minimum) to a financial advisor and my cold lists convert at about 1%.

Cut out the mail that doesn’t get delivered and it takes me about $110 or so to sell a $997 product. You’re probably thinking, “Yeah, but you’re getting a near-10X return on your money… what’s the problem?”

The problem is that I could do better. So let’s explore one more option… online advertising.

I don’t know about your industry, but online advertising targeting financial services professionals is REALLY expensive. I’m talking maybe $5 per click… at least. If I convert at 1% then it means I am paying $500 to acquire a customer. If I optimize my ads, maybe I could get that cost down to $250.

But the thing that is getting me the BIGGEST return on my investment, by far, is cold email.
People sending cold email using Woodpecker cold email software
Yes! Someone just opened my cold email!

"So, What Exactly Is Cold Email?"

Cold email means you have no previous interaction with the person. You can think of it like a cold call, except much less intrusive. After all, a prospect can review your email and get back to you at his or her convenience. 

Plus, one of my favorite things about cold email is that it’s a huge time-saver. Other than the few haters who respond with some nasty comments, the only replies you’re going to get are from genuinely interested prospects. This means you will spend the majority of your sales time with people who are willing and able to make a buying decision. 
​
Cold email is not spam. While I’m not an attorney and you shouldn’t take legal advice from me, the last time I checked it was 100% okay to send email to people and companies you don’t know as long as you follow certain rules. These rules include not misrepresenting who you are, including your business address, giving an opt-out option, and a few others. 

I’ll be the first to admit that before I started my cold email campaign, I didn’t really know all the ins and outs of how to do it. But when I started doing my research, I came across this company called Woodpecker and started reading their blog. It was incredibly helpful in teaching me all the right things to do. It was only natural that I started using their service as well.
Cold email getting created in Woodpecker cold email software
Sample cold email getting created in Woodpecker.

What Is Woodpecker?

Woodpecker is a service that will automate your cold email campaign and your follow-up. Long gone are the days of manually typing in a recipient’s email or copying and pasting your message. This is literally what I did to launch my email campaign:

STEP ONE: I created a spreadsheet of my prospect’s first name and their email address. Woodpecker allows several different ways to personalize your emails, including company name, first name, and whatever custom field you choose. So my emails would automatically personalize themselves by inserting the prospect’s first name.

STEP TWO: I created my email campaign. Woodpecker allows you to create up to seven follow-ups in a campaign, sent out at time intervals you set in advance. For example, your second email could be set to send three days after the first one if your prospect doesn’t respond.

The name of the game with a cold email campaign is to get a response. The worst thing that can happen to you is to get ignored by a prospect who is a perfect fit for your product or service. So hearing a “no thanks, I’m not interested” is completely okay because it allows you to delete that prospect from your pipeline and move on to the next one.

Because your email provider will only let you send so many emails per day (for example, a Gmail account is limited to 500) it’s critical that you cut the dead weight from your list as quickly as possible.

My best performing campaign so far has been one with three emails. The first one was just a general introduction email, letting the prospect know that I exist and that I help financial advisors get more clients. The second email was sent three days later and was a follow-up email trying to elicit a response. The third email was sent three days after the second email and basically said: “Hey, please let me know if you’re not interested so I can stop bothering you - otherwise I’m going to keep following up.”

Again, the goal is to cut the dead weight from your list as quickly as possible. You’re prospecting - in order to find the gold, you need to filter through all the dirt.

STEP THREE: I published the campaign and it started sending. You can set your Woodpecker account to send only at certain times of day, which is super helpful because you want to contact your prospects when they’re in front of a computer. I scheduled all my emails to send from 7 in the morning and 3 in the afternoon.

Plus, Woodpecker spaces out your emails. So if you have 100 emails to send, Woodpecker won’t send them out all at once. Instead, it will space them out and send one every few minutes. Without getting into techy geek detail, this is important because it keeps your email provider from freaking out.

After that, I just walked away and let Woodpecker go to work. I would check my inbox periodically to respond to any interested prospects. Woodpecker also automatically detects responses (to avoid following up again) and blacklists any prospects who report you as spam, so you don’t ever email them again. It makes the process INCREDIBLY easy.
Woodpecker cold email scheduling
Woodpecker lets you schedule your delivery times in advance.

Woodpecker's Features...

Woodpecker’s cold email service has a ton of cool features. Here are a few of my favorites:

Follow-up automation.

Woodpecker allows you to follow up automatically within the same thread. I never realized how important this actually was until I started using Woodpecker for my cold email. It makes perfect sense because it makes sure your prospects have a full context - if they didn’t open your first email, they can simply read the thread and see what you’re talking about.

As I mentioned before, Woodpecker also allows you to set the days and hours of delivery within a chosen time zone for the emails in your campaign.


Human-like sending.

Woodpecker lets you integrate your Gmail, Outlook or any IMAP in seconds. You can also use as many addresses as you need and set aliases - this is perfect for a large team that is trying to reach out to a prospect multiple times.

After you set everything up, your messages get sent automatically one-by-one. Due to Woodpecker’s email throttling algorithm, emails get sent with irregular frequency, which helps keep your domain away from anti-spam filters.

The personalization also helps a lot too - like I previously mentioned, you can use custom fields and snippets to merge information from your contact base into your templates. This makes emails feel unique and personal. Oh, and you can just import all this information from your CRM too.


Security

This was one of the things I was worried out. Up until I found their blog, I had never heard of Woodpecker. But what I discovered was that Woodpecker puts a big emphasis on security, which put my mind at ease.

One of the first things they do to keep your email secure is to eliminate duplicates. Whether you’re importing contacts from a CSV, adding them manually, or syncing them from another software, Woodpecker automatically detects duplicates and removes them from your cold email prospect list.

They also make sure that you avoid sending to non-existing addresses. If there’s a chance of a hard bounce, your email won’t be sent to that doubtful address. This alone is worth the price because it protects you from getting blacklisted due to having too many hard bounces.

They also protect you from sending the same message twice to the same person, which can prevent a lot of embarrassing mistakes.


Tons of stats

This is by far my favorite part of Woodpecker’s cold email service. They let you:

  • Track open rates - this lets you know how many people open your messages and lets you see when your emails get opened most often.
  • Track reply rates - this lets you see how many people respond to your messages, which can help you improve your email copy to get more responses
  • See how many replies were positive - this is pretty cool because it lets you mark the replies as interested, maybe later or not interested. That way you can step back and measure the sheer effectiveness of any one cold email campaign.
  • Count the clicks on your links - while I wouldn’t really recommend using links in your initial outreach (people think they’re scammy), Woodpecker lets you measure the click-through rates of any links you include
  • Control your bounce rate - you can see how many of your emails got bounced and control the rate of invalid emails in your prospect list, making sure your domain always has a good reputation

Knowing these stats is critical to running and growing a successful email campaign because you can test various lists, messages, subject lines, etc. to see what gets the best results.

For example, I’ve split-tested “I want to help you get more clients” versus “Found you on LinkedIn” and saw that “Found you on LinkedIn” got more than double the opens and replies. If I didn’t have Woodpecker’s awesome reporting tools, I never would’ve known this.
Woodpecker cold email stats - part of my Woodpecker cold email review
An example of Woodpecker's cold email stats.

How Much Does Woodpecker Cost?

Knowing what I know now, I would be willing to spend HUNDREDS of dollars per month on a service like Woodpecker.

Yet, Woodpecker costs an extremely reasonable $40 per month, per email. Or if you pay annually, it’s only $33 per month. This is incredibly cheap if you understand the raw power behind not just sending a cold email campaign, but leveraging the stats they give you to improve it over time.

I only use one email on my account, but if you want to add more email addresses to the account you will be charged accordingly. For example, if you want to integrate two email boxes to one account and send from two email addresses, you will get charged $80 per month. So if you know that you don’t need anything fancy, just go with the $40 per month (or $33 per month if you pay annually) plan.

However, Woodpecker does offer a free 14-day trial so you can use all of their features to see if you like it and want to continue using it. After your free trial ends, all of your campaigns are paused (not deleted, whew!) until you choose your pricing plan and you can still access all of your campaigns and stats.

The best part is that they don’t even ask for your credit card information, which makes it much easier to sign up for that free trial.

There’s no long-term commitments and no contracts, which is nice. You just pay as you go and you can cancel at any time. You can also upgrade or downgrade your account anytime.

Again, Woodpecker offers a free 14-day trial (and they don’t even ask for your credit card information), so you have nothing to lose by giving them a try. Sign up for a free trial today.
​
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  • Home
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  • Blog
    • 50 Things I Wish Financial Advisors Knew About Marketing
    • What's A Good Financial Advisor Marketing Budget? Here's What I've Found...
    • 5 Reasons Why Hiring A Financial Advisor Marketing Agency Is A Bad Idea...
    • 5 Elements of High-Converting Landing Pages For Financial Advisors (With Examples)
    • Why "Branding" Is A Terrible Idea For Financial Advisors
    • 9 Inbound Marketing Strategies For Financial Advisors That Are Working Right Now... (With Proof)
    • Financial Advisors: Here's How To Get 3 New Clients In The Next 30 Days...
    • I Analyzed The Websites Of Barron’s Top 100 Independent Financial Advisors: Here’s What They Do Differently…
    • 4 Things I've Learned From Testing 3.2 Million Financial Advisor Emails
    • What Is The Optimal Number Of Clients For A Financial Advisor? (My Answer May Surprise You...)
    • Will Financial Advisors Become Obsolete? (Future Outlook For Financial Advisors)
    • How To Become A Virtual Financial Advisor (Plus Traits And Tools To Help You Work Remotely)
    • An Open Letter To Financial Advisors With Imposter Syndrome (Plus 4 Tips For Overcoming It)
    • How To Overcome Objections As A Financial Advisor (The Right And Wrong Way)
    • 7 Priceless Tips For Financial Advisors Who Want A "Lifestyle" Practice
    • 9 Research-Backed Stress Management Tips For Financial Advisors (That Actually Work)
    • 3 Powerful Ways Financial Advisors Can Use Webinars To Get More Clients
    • 10 Catastrophic Ways Financial Advisors Sabotage Their Own Success
    • These 5 "Weird" Tips Can Help Financial Advisors Form Better Habits
    • 5 Financial Advisor Follow-Up Tips (That Won't Annoy Prospects)
    • How Financial Advisors Can Write A Book (And Use It To Get Clients)
    • 7 Ways To Make Your Financial Planning Firm More Profitable
    • 7 Actionable Goal Setting Tips For Financial Advisors
    • 10 Of My Favorite Productivity Tools For Financial Advisors
    • How Financial Advisors Can Make A Phenomenal First Impression
    • 3 Reasons Financial Advisors Should (And Shouldn't) Start A Podcast
    • Financial Advisors: 4 Reasons Why Buying Leads Is Like Burning Money
    • 11 Tips For Writing A Stellar Financial Advisor Bio (With Examples)
    • 7 Traits Successful Financial Advisors Have (From Someone Who Has Worked With Thousands Of Advisors)
    • 6 Common Financial Advisor Interview Questions (And How To Answer Them)
    • 5 Things Financial Advisors Should Know Before Buying A Book Of Business
    • Looking For A Financial Advisor Internship? Here Are 10 Things You Should Know...
    • How Hard Is The CFP® Exam? (Plus 5 Of My Favorite Tips To Help You Pass)
    • 10 Insurance Marketing Tips, Ideas, and Strategies (That Actually Work)
    • How to Become a Financial Advisor In 5 (Not So Easy) Steps
    • How To Make Six Figures As A Financial Advisor
    • 11 Lucrative Cold Calling Tips for Financial Advisors
    • 10 Things I Wish All Entry Level Financial Advisors Knew
    • 6 Video Marketing Tips for Financial Advisors: Why Video Marketing Is So Powerful
    • 7 Reasons Why Most Financial Advisor Sales Training Completely Fails
    • Pros and Cons of Financial Advisor Coaching - Should Financial Advisors Hire a Coach?
    • 9 Elevator Speech Tips for Financial Advisors
    • A Day In The Life of a Financial Advisor: 7 Things You Can Expect
    • 7 Awesome Content Marketing Tips for Financial Services
    • Pros and Cons of Being a Financial Advisor: The Dirty Details Nobody Tells You
    • 8 Things Nobody Tells You About Being a Financial Advisor
    • 10 Things Financial Advisors Wish They Could Do Differently
    • 10 Awesome Content Marketing Tips for Financial Advisors
    • 12 Best Financial Planning Questions to Ask Clients
    • 5 Online Reputation Management Tips for Financial Advisors
    • Here's Why Clients Fire Financial Advisors
    • 5 Things Financial Advisors Should Never Do With Their Clients
    • 9 Cold Email Tips for Financial Advisors
    • 7 Tips for Avoiding Burnout as a Financial Advisor
    • 9 Tips for Creating a Financial Advisor Business Plan
    • 7 Must-Know Google Ads Tips for Financial Advisors
    • 7 Awesome Tech Tools for Financial Advisors
    • 10 Insurance Email Marketing Mistakes You Need to Avoid
    • 12 Facebook Marketing Tips for Financial Advisors
    • 3 Lessons From An Advisor Losing $1,000 Every Day
    • 7 Easy & Actionable Social Media Marketing Tips for Financial Advisors
    • 7 Door-to-Door and Cold Knocking Tips for Financial Advisors
    • 5 Things People Really Want From Financial Advisors
    • 5 Client Loyalty Strategies to Help You Retain More Clients
    • 7 Client Referral Ideas to Help You Get More Referrals
    • 8 Tips for Attracting UHNW Clients (With Proof That They Work)
    • Top 10 Best Books for Insurance Agents (2020)
    • 15 Financial Advisor Prospecting Ideas & Techniques That Work!
    • 11 Awesome Client Appreciation Event Ideas for Financial Advisors
    • Life Insurance Leads - Should You Buy Them?
    • 5 Ways Financial Advisors Can Improve Direct Mail Marketing Results
    • 7 Reasons You'll Fail as an Insurance Agent
    • 7 Horrible Insurance Marketing Ideas
    • 5 SEO Strategies For Financial Advisors (That Actually Work)
    • Social Media Tips for Financial Advisors: Experts Weigh In
    • The Secret Behind Awesome Financial Advisor Value Propositions (Plus Examples)
    • 5 Tips for How to Sell Insurance Over the Phone
    • 15-Step Client Onboarding Checklist: Onboarding Process for Financial Services
    • The Best CRM for Financial Advisors (CRM Software for Financial Services)
    • 10 Actionable Seminar Marketing Tips for Financial Advisors (That Actually Work)
    • 9 Effective Appointment Setting Tips for Financial Advisors
    • 19 Financial Advisor Email Marketing Tips
    • 5 Ways to Overcome Call Reluctance
    • How to Handle Rejection In Sales: Overcoming Your Fear of Rejection
    • 7 Reasons Why Most Financial Advisor Websites Are Terrible
    • 27 Financial Advisor Marketing Ideas & Strategies That Work!
    • How to Become a Successful Financial Advisor: Your First Year
    • Top 10 Best Books for Financial Advisors
    • 7 Fatal Prospecting Mistakes You Can't Afford to Make
    • 5 Ways to Generate Leads Without Cold Calling
    • 7 Ways Prospecting Is Like Dating
    • 5 Reasons Why You're Not Getting Referrals
    • 5 LinkedIn Tips for Financial Advisors (Plus 3 Things They Should Be Tracking...)
    • How Financial Advisors Can Build Client Trust
    • 11 Reasons You'll Fail as a Financial Advisor
    • How Financial Advisors Can Make More Money
    • 5 Best Niches for Financial Advisors
    • How to Sell Without Being Pushy
    • How Advisors Can Get Out of Their Comfort Zone
    • 5 Characteristics of Successful Insurance Agents
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