📈 Case Study: How a 50-Person AI Firm Turned 56K Emails Into $187K+ in Pipeline Revenue with MSP Decision-Makers
From August 2023 through February 2025, a leading M&A advisory firm focused on the MSP space executed an 18-month outbound email campaign targeting owners interested in exploring exit strategies. The campaign delivered 131,759 emails, maintaining a solid 84.94% delivery rate. Engagement remained high throughout, with a 34.09% open rate and an impressive 6.08% click-through rate—demonstrating message relevance and audience fit.
With just a 0.22% unsubscribe rate and zero spam complaints, the strategy proved not only effective but also respectful of recipients’ inboxes. The campaign generated 125 qualified hand-raises, defined as MSP owners who filled out a landing page form expressing acquisition interest.
From there, 25% of the hand-raisers were converted into appointments—just over 31 meetings with engaged prospects. A close rate of 30% resulted in approximately 9 new transactions. With an average Annual Recurring Revenue (ARR) of $350,000 per deal, this campaign generated an estimated $3.28 million in ARR from a single initiative.
This case study underscores how precision targeting, consistent messaging, and disciplined follow-up can yield remarkable outcomes in high-value B2B sectors like mergers and acquisitions. By leveraging email at scale—paired with a compelling offer and smart funnel design—firms can create a steady stream of meaningful opportunities.
🧩 Case Study: M&A MSP Firm
M&A Firm Connecting MSPs with Buyers
📅 Campaign Duration: August 2023 – February 2025 (18 months)
📍 Target Audience: MSP owners interested in selling their businesses
🎯 Objective
To generate highly qualified leads (MSP owners) interested in exploring M&A opportunities, convert them into appointments, and ultimately close deals with buyers through this M&A Firm’s platform.
📬 Campaign Performance
| Metric | Result |
|---|---|
| Emails Sent | 131,759 |
| Delivery Rate | 84.94% (~111,940 delivered) |
| Open Rate | 34.09% (~38,176 opens) |
| Click Rate | 6.08% (~6,806 clicks) |
| Bounce Rate | 10.88% |
| Unsubscribe Rate | 0.22% |
| Spam Complaints | 0% |
📈 Funnel Results
| Stage | Conversion | Output |
|---|---|---|
| Hand-Raises | – | 125 |
| Appointments Set | 25% | 31.25 |
| Closed Deals | 30% | 9.375 |
| Average ARR per Deal | – | $350,000 |
| Total ARR Generated | – | $3,281,250 |
🏆 Key Outcomes
High-value leads: Average ARR per close is $350K
6.08% click rate—well above industry benchmarks
No spam complaints over 18 months—a testament to list quality and messaging
Total ROI justified with $3.28M ARR driven by a single campaign
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