The Surprising Truth: C-Level Executives Respond 3X More Than Directors
After analyzing nearly 40,000 cold email replies, we discovered something that contradicts everything you've been told about B2B prospecting.
Director positive reply rate: 0.088%
That's a 3X difference in positive response rates.
C-level executives—CEOs, founders, CTOs—are MORE responsive to cold emails, not less.
But before you start emailing every Fortune 500 CEO, there's a critical nuance in the data.
Total Reply Rates Tell a Different Story
When we look at total reply rates (including all responses—positive, negative, and automated), the numbers are nearly identical:
- C-level total reply rate: 1.61%
- Director total reply rate: 1.68%
So if both groups reply at similar rates, what makes C-level executives better prospects?
Reply quality.
Reply Quality: The Metric That Actually Matters in Cold Email
This is the insight most sales teams miss when building their cold email strategy.
When a C-level executive replies to your cold email, 16.76% of those replies are positive (interested, asking questions, requesting more information).
When a director replies, only 5.20% are positive.
What This Means for Your Cold Email Strategy
Directors reply frequently, but most responses are:
- Automated out-of-office messages
- Referrals to other team members
- Polite rejections
- "Not interested" replies
C-level executives filter harder. They ignore most cold emails completely.
But when something resonates—when your value proposition aligns with their priorities—they engage meaningfully.
And that engagement converts to pipeline.
Why Everyone Says "Don't Email the CEO" (And Why They're Wrong)
The conventional cold email advice is clear: avoid C-level executives. Target middle management instead.
But this advice is based on targeting the wrong C-level executives.
We broke down our 1,202 positive C-level replies by company size. Here's what we found:
The best CEO to cold email isn't at a Fortune 500 company.
It's the founder of a 10-person startup.
Why Small Company CEOs Respond to Cold Email
There are three reasons founder-led companies have dramatically higher C-level response rates:
1. No gatekeepers. Small company CEOs read their own email. There's no executive assistant filtering messages.
2. Decision authority. Founders can say "yes" immediately. No approval chains, no procurement processes.
3. Hands-on involvement. CEOs at 10-person companies are still in the weeds. They care about tools, vendors, and solutions that impact day-to-day operations.
When you email the CEO of a 10,000-person company, you're competing with hundreds of other cold emails, investor updates, board communications, and strategic priorities.
When you email the founder of a 15-person startup, you're reaching someone who might genuinely need what you're selling—and can buy it this week.
The Best Industries for Cold Emailing C-Level Executives
Industry targeting matters as much as company size.
We analyzed C-level positive replies across 100+ industries. Here are the top performers:
Top 5 Industries for C-Level Cold Email Response Rates
- Computer Software: 206 positive replies
- Internet: 97 positive replies
- IT Services: 68 positive replies
- Financial Services: 57 positive replies
- Biotechnology: 51 positive replies
Tech-heavy, innovation-focused industries dominate the list.
But notice the outliers: Financial Services and Biotechnology.
These industries have decision-makers who respond when you're solving a real, urgent problem. They're not impulse buyers, but when the pain point is clear, they engage.
Why Tech CEOs Respond to Cold Email
Software, internet, and IT services companies share common characteristics that make their C-level executives more responsive:
- Fast decision cycles - Tech companies move quickly
- Growth-focused - Always looking for tools to scale
- Digital-native - Comfortable with cold email as a channel
- Problem-solvers - Open to new solutions if they work
If you're selling B2B software, SaaS tools, or services that help tech companies scale, C-level executives in these industries should be your primary ICP.
The Winning Cold Email ICP: Data-Backed Targeting Criteria
After analyzing 1.2 million contacts and 1 million cold emails, the pattern is undeniable.
The highest-performing cold email ICP for C-level targeting is:
✓ Company Size: 1-50 Employees
70% of positive C-level replies come from this segment. These are founder-led companies where the CEO is accessible and empowered to make decisions.
✓ Industry: Tech-Heavy or Innovation-Focused
Computer software, internet, IT services, biotech, and financial services lead in C-level response rates. Target industries where executives are actively seeking competitive advantages.
✓ Title: Founder, CEO, Co-Founder, CTO
These titles indicate decision-making authority and hands-on involvement. Avoid targeting C-level executives at large enterprises where they're insulated by layers of management.
Why This ICP Works for Cold Email
Founder-led companies.
Tech-heavy industries.
Small teams (1-50 people).
These CEOs are hands-on, have decision authority, and respond when your message is relevant.
And they drive more deals than any other contact segment.
They don't have layers of gatekeepers. They read their own email. They make decisions fast.
When you reach the right C-level executive with the right message, you're talking directly to the person who can say yes—today.
How to Cold Email C-Level Executives (Based on 1M Emails Sent)
Now that you know who to target, here's how to reach them effectively.
1. Keep It Short
C-level executives don't have time for long emails. Get to the point in 3-4 sentences.
2. Lead with Value, Not Features
Don't explain what your product does. Explain the outcome they'll get.
3. Personalize Based on Company Context
Reference their company size, industry, or recent growth. Show you understand their specific challenges.
4. Use a Low-Friction CTA
"Mind if I send more info?" outperforms "Book a 30-minute demo" by 5X in our data.
5. Target the Right C-Level
Use the criteria above: 1-50 employees, tech-focused, founder-led.
Stop Avoiding C-Level Executives in Your Cold Email Campaigns
The data is clear. The conventional wisdom is wrong.
C-level executives aren't too busy to read your cold email.
You're just targeting the wrong ones.
Stop emailing Fortune 500 CEOs who have executive assistants filtering their inbox.
Start targeting founder-led companies with 1-50 employees in tech-heavy industries.
The response rate is 3X higher.
The reply quality is 3X better.
The deals close faster.