The Best Time of the Day to Send Emails to Prospective Investors
Managers have grown increasingly frustrated as email open rates continue to spiral downward reflecting the deluge of email hitting everyone's inboxes. We get asked quite a bit for easy hacks to improve the likelihood that an email will get the attention it deserves.
Outside of subject line, time of day the email is sent and type of device used by the recipient are big contributors to both the likelihood the email is opened and the likelihood the content is consumed.
And interestingly enough...these two factors are often highly correlated.
Our own data suggests that the time of day in which an email is sent most directly impacts the type of device used by the recipient. We compared emails that are sent in the early morning before most people arrive in the office, with emails sent mid-morning when most people are in the office.
For emails sent in the early morning (~6:30am)…
- They are more likely to be opened on a mobile device.
o 17% higher likelihood that it is opened on a mobile device, vs. CPU
- Open rates in the early-morning are higher vs. mid-morning sends.
o Approximately 13% higher
For emails sent mid-morning (~10:00am)…
- They are more likely to be opened via CPU.
o 21% higher likelihood that it is opened on a CPU vs. mobile device
- Clickthrough rates in the mid-morning is higher vs. early-morning sends.
o Approximately 3% higher
- The time of day in which an email is sent impacts the type of device used by recipient.
- Your prospective investors react fast, which explains the influence of ‘time of day’. There are more mobile views in the morning, and more CPU views in the mid-morning.
- When on mobile, people are more receptive to perusing emails.
- When using a CPU, it makes it easier for people to clickthrough and engage on material beyond the email (i.e. downloading a pitchbook).
Considerations moving forward:
1. When is the best time to send out newsletters and updates?
It depends – on what you are trying to accomplish. Are you trying to get in front of prospective investors to remind them about you, or do you want them to have a higher likelihood of clicking through in an email? Not forgetting that open rates go down as the morning goes by.
2. Does your content align with both CPU and mobile?
This is a given, but too many managers are still sending emails that are difficult to engage with via mobile. Know when to use a simple hyperlinked button, and when to include your 30-page pitchbook.
3. A/B testing & Analytics
While averages hold true, do your own A/B testing to learn what works better for your database of prospective investors. No two managers’ databases behave the same, and constantly A/B testing your marketing methodologies mean you can extrapolate what you’ve learned to shorten the sales cycle.