Your current numbers
20% open rate (B2B average), 0.1% reply rate (50× below B2B SaaS average of 2-4%). Volume alone won't fix this — reply rate is the headline issue.
Industry benchmarks
B2B SaaS 2026: 19-22% opens (avg), 35-45% (top quartile). Reply rate: 2-4% (avg), 5%+ (good), 10%+ (top). Meeting rate from total sends: 0.8% (avg), 1-2% (top performers). Sources: Instantly, Smartlead 14.3B sends study, SalesHive.
Funnel logic
Sends × Delivery × Open × Reply rate = total replies. Of those, ~50% are positive. ~15-30% of positive replies convert to a booked meeting after SDR follow-up. CTR is tracked separately as a leading engagement signal.