Margaret Sikora on why cold email isn’t dead?

Cold email always gets declared dead when a new sales trend takes over. But in this conversation, Margaret Sikora, CEO of Woodpecker, makes a clear case for why the channel is not dying — it’s maturing. And anyone who treats it like 2018 will get 2018-level results.

As Margaret puts it, “Cold emailing is not dead — but the days of sending anything to anyone and getting replies are absolutely over.”

This is not a eulogy. It’s a reality check.

From Junior Support to CEO — and Why Outbound Is a Game for Stubborn People

Margaret didn’t stumble into the CEO chair. She grew into it.

She joined Woodpecker as junior support, moved into customer success, product, operations and eventually took over the entire company nine years later. The common thread across that journey applies to outbound too:

“It’s a game for stubborn people. You try, you fail, and you try again the next day.”

Outbound didn’t get harder — everything else just got easier. And that means the bar went up.

Is Cold Email Dead? Margaret Answers the Internet’s Favorite Drama Question

LinkedIn loves shouting that cold email is finished. Margaret laughs at that narrative because she sees real customer data every day:

“I look at the campaigns our users run. The results are too good for anyone to say cold email is dead.”

The truth is simple.

Cold email still:

• scales
• targets precisely
• costs almost nothing
• validates ICPs faster than paid ads
• ‍

What changed is not the channel.

What changed is the standard.

Margaret says it perfectly:

“If your cold email doesn’t work, the channel is not the problem. Your approach is.”

The Two Metrics That Decide Whether You Win or Lose

Margaret refuses to overcomplicate analytics. She cares about two numbers above all:

Bounce rate

If it’s above a couple percent — you stop everything.

“People keep sending because they hope the bounce problem fixes itself. It never does.”

Fix list quality. Fix domains. Fix warming.

Then send again.

Positive reply ratio

Not open rate.

Not click rate.

“You must know how many emails you need to send to get one positive reply. That number shows you if the system works.”

Sales teams avoid this metric because it exposes the truth fast.

She argues it’s the only one that matters.

Tracking Opens? Margaret Says: “It Depends.”

Some people scream that tracking opens kills deliverability.

Margaret is not doctrinal about it.

“If your market is tiny and you need every possible signal, open tracking can still be useful — even if it hurts deliverability a bit.”

Translation:

Don’t follow dogma. Follow logic.

How Many Emails Per Prospect?

No, you don’t send nine follow-ups like it’s 2016.

Margaret’s baseline:

“3- 4 emails in a sequence is a safe place to start.”

But the real pros recycle the data:

• new angle
• new CTA
• new value
• new timing

Same contact, fresh context.

GDPR Is Not That Scary — If You Don’t Act Like an Amateur

Margaret is a lawyer by training, so this part comes out clean and sharp.

Her rule:

“If you have someone’s email, you are processing personal data. Treat it as personal data.”

Her non-negotiables:

• identify yourself clearly
• give an easy opt-out
• store data responsibly
• delete what you don’t need

Cold email doesn’t violate GDPR.

Bad hygiene does.

AI SDRs? “not yet”

Everyone wants AI to eliminate SDRs next quarter.

Margaret isn’t buying it.

“We are not at the stage where AI can replace human judgment in outbound. It can support, not substitute.”

Where AI does shine:

• sorting replies
• reading autoresponders
• classifying intent
• assisting copywriting (with tools like Twain or Lavender)

Full AI agents running end-to-end outbound?

Not this year.

Where Cold Email Is Actually Heading

Margaret’s prediction is brutally realistic:

“Cold email won’t get easier. You just need stronger brand presence around it.”

In her view, outbound succeeds when founders:

• show up on LinkedIn
• publish content
• build a recognizable voice
• create multiple touchpoints
• don’t rely on email alone

Cold email is no longer a standalone weapon.

It’s the close-range precision piece inside a bigger system.

The Real Lesson Behind Margaret’s Career Story

Nine years at the same company.

Junior support → CEO.

That doesn’t happen without a mental model founders should steal:

“Surround yourself with people who make you better — not people who make noise.”

Outbound works the same way.

Ignore the noise.

Study what works.

Test relentlessly.

Stay stubborn.

Cold email never died.

Bad cold email did.