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Stumbled on a stat that made me rethink cold email entirely

I was digging through some HubSpot data last night and saw that average reply rates for B2B cold emails have dropped under 1% in 2024. That floored me because I remember when 3-5% was normal just five years ago. Has anyone else noticed their numbers tanking or am I just unlucky?
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stone.jesse
Wait, under 1%? That can't be right for everyone, @martin.vera. I've been hovering around 2-3% in my own campaigns this year, though I do filter out the unsubscribes and bounces manually. Maybe HubSpot's reporting inflates the total sends or counts bounces and replies together differently than a tool like Mixmax would.
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martin.vera
martin.vera18d agoTop Commenter
Are you counting replies from people who actually opened and read, or just any reply at all? Cause I think there's a difference between a bounce back and a real response. Some of my cold emails got replies from IT guys saying "take me off your list" those counted as replies in my metrics. Also, are you using HubSpot's default tracking or a third party tool? Their click/open rates have been way off for me lately compared to Mixmax.
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