Here's the 1st cold email I sent that got a sale. It was Wealthfront.
Maybe sent emails to 20 diff brands, 5-8 showed interest.
We had 93,535 subscribers. I charged them $26 per 1,000 sends.
This took forever because 1) we didn't know anything 2) not many others doing it so we made it up 3) advertisers didn't typically buy newsletter ads. 4) i was doing it and had zero experience
Nowadays its much easier. Doing it again, i'd get advertisers MUCH earlier.
I can't find the email but here's the old welcome email...