To calculate cold email conversion rate, you need to divide the number of conversions by the number of emails sent and multiply by 100. For instance, if 100 emails are sent and 10 replies are received, the reply rate is 10/100 x 100 = 10%. This formula can be used to measure any conversion stage. Additionally, there are many tools and platforms that can track and measure cold email conversion rate automatically. Email service providers (ESPs), such as Mailchimp, Aweber, or Constant Contact, offer basic metrics such as open rate, click rate, and bounce rate. Customer relationship management (CRM) software, like Salesforce, HubSpot, or Zoho, integrate with ESPs and provide more advanced metrics such as reply rate, meeting rate, and close rate. Cold email tools like Lemlist, Mailshake, or Woodpecker specialize in cold email outreach and offer features like personalization, automation, follow-up, and tracking. These platforms provide the most comprehensive and accurate metrics for cold email conversion rate.