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Loic Moncany
Loic Moncany

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I'm building a lead gen tool while cold email is collapsing — here's what the data actually says

Everyone's talking about AI-powered outreach at scale. I'm building OhMyLead and watching that playbook fall apart in real time.

What's happening out there

Cold email benchmarks for 2026 are ugly. Reply rates have dropped significantly for volume-based outreach. Gmail and Outlook now reject emails from domains without properly configured DMARC/DKIM/SPF — not send to spam, reject. The spam complaint threshold that triggers filtering is 0.1%. One bad list can tank your domain for months.

The consensus in r/SaaS and r/b2bmarketing right now: "do less, but do it deliberately." Cold email at scale → reply rates fell unless deeply personalized. Paid ads → expensive and inconsistent. The surviving approach is precision over volume.

The industry's answer to this? AI personalization at scale. Write 500 highly personalized emails with AI. Sounds great in theory.

What I'm actually seeing while building

I've been building OhMyLead specifically to help indie hackers and small teams find better-qualified leads. This week I've been deep in the targeting logic — the step that happens before you write a single word of outreach.

And here's what the data keeps showing me: the constraint isn't the email copy. It's the list.

A founder sending 50 emails to people who actually have the problem they solve is getting better results than teams sending 500 "personalized" AI emails to a scraped list. The personalization is irrelevant if the targeting is wrong. You can't AI your way out of a bad list.

The problem is that building a good list is hard. Real intent signals are buried in noise. "They visited a pricing page" is weak. "They just hired a VP of Sales and their LinkedIn shows they're scaling from 5 to 20 reps" — that's signal. But getting that kind of data at a price indie hackers can afford? That's the actual hard problem.

I'm also running into a less glamorous issue: most "intent data" providers are selling repackaged noise at enterprise prices. The signals that actually work are often manual, contextual, and not scalable in the way people think.

What I've learned from shipping this week

  • List quality > email quality. Every time. Fix the targeting before touching the copy.
  • Intent signals need context. A single data point means nothing. Stack 2-3 signals and you have something real.
  • Small batches win. 30-50 highly targeted emails beat 500 generic ones. The math works out when your reply rate is 15% vs. 2%.
  • Domain hygiene is now table stakes. If you're doing any cold outreach in 2026 and haven't set up DMARC, stop everything and do that first.
  • The "AI personalization" narrative is a distraction. The real leverage is in qualification, not in making bad-fit emails sound smarter.

The bet I'm making

OhMyLead is being built around one core idea: help small teams qualify leads before they reach out, so outreach volume stays low and conversion stays high. Less spray, more signal.

If you're doing outbound right now and want to share what's working (or not) — I'd genuinely love to hear it. Find me at @lmoncany or check out what I'm building at ohmylead.com.

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