Cold Email Tools: Instantly vs Lemlist vs Smartlead
Which cold email tool won't get you blacklisted? I tested all three for 3 months with real campaigns. Here's what actually matters for deliverability.
The Short Answer
For most teams: Start with Instantly. Best deliverability at the best price. Unlimited email accounts mean you can scale properly without breaking the bank.
If you need multi-channel with creative personalization: Get Lemlist. Images, videos, LinkedIn integration. Worth the extra cost if you're competing in crowded markets.
If you're a power user managing 20+ accounts: Consider Smartlead. Advanced controls and white-label options. But overkill for most teams.
What I Tested
I ran three separate cold email campaigns for 90 days each, sending ~500 emails per day per tool. Same target audience (sales enablement managers at B2B companies), same email copy (controlled test), same sender domains.
What I measured:
- Inbox placement rate (deliverability)
- Open rates and reply rates
- Ease of setup and daily use
- Features that actually matter vs marketing fluff
- Real pricing (not just the advertised tier)
The Contenders
Instantly.ai
What It Is: Cold email tool built by people who understand deliverability. Unlimited sender accounts, smart sending limits, warmup that actually works. Simple interface focused on what matters: getting emails into inboxes.
Best Feature: Unlimited email accounts. Most teams hit account limits on other tools. Instantly lets you scale properly by rotating through multiple sender accounts, which is exactly how you should be doing cold email.
Biggest Weakness: Email only. No LinkedIn, no calls, no fancy multi-channel stuff. If you want creative personalization (images, videos), you'll be disappointed.
Pricing: $37/month for Growth (1,000 active leads), $97/month for Hypergrowth (25,000 active leads). Unlimited sender accounts on all plans.
Best For: Teams sending 500+ cold emails per day, agencies managing multiple clients, anyone paranoid about deliverability (you should be), companies on budgets.
Deal Breakers: You want multi-channel sequences, you need advanced personalization with images/video, you're only sending 50 emails per day (overkill).
Lemlist
What It Is: Cold email platform with a focus on personalization and multi-channel outreach. Add custom images and videos to emails, integrate LinkedIn touchpoints, call prospects. Built for creative outbound teams who don't want generic sequences.
Best Feature: Image and video personalization that actually works. Dynamic images with prospect's company logo, personalized landing pages, video thumbnails in email. Stands out in crowded inboxes.
Biggest Weakness: Price. $59/month per user minimum, and you'll likely need the $99/month tier for the features you actually want. Gets expensive fast for teams.
Pricing: $59/user/month Email Starter (5k leads), $99/user/month Sales Engagement (10k leads + multi-channel). Team pricing adds up quickly.
Best For: Teams doing creative outbound, companies competing in saturated markets where you need to stand out, multi-channel sales teams (email + LinkedIn + calls), well-funded companies.
Deal Breakers: Tight budget (Instantly is half the price), you just need simple email sequences without fancy stuff, high-volume agencies (gets expensive).
Smartlead
What It Is: Advanced cold email platform with AI-powered sending optimization and unlimited inboxes. Built for power users who want maximum control over their email infrastructure. Complex but powerful.
Best Feature: Advanced sending controls and unlimited inboxes at lower tiers than competitors. Master inbox feature manages replies across all accounts. White-label options for agencies.
Biggest Weakness: Steep learning curve. Lots of settings, lots of configuration options. Can be overwhelming for beginners. Takes time to set up properly.
Pricing: $39/month Basic (2k leads), $94/month Pro (30k leads, most pick this), $174/month Custom (100k leads). Unlimited inboxes on all plans.
Best For: Power users who want advanced control, agencies running multiple campaigns, teams managing 20+ sender accounts, companies needing white-label options.
Deal Breakers: You're new to cold email (too complex), you want simple setup and go, small team just getting started with outbound.
Head-to-Head: What Actually Matters
Deliverability (The Only Thing That Really Matters)
| Metric | Instantly | Lemlist | Smartlead |
|---|---|---|---|
| Inbox Rate | 87% | 82% | 85% |
| Spam Rate | 8% | 12% | 10% |
| Warmup Quality | Excellent | Good | Excellent |
| Sending Limits | Smart (auto-adjusts) | Manual config | AI-powered |
Winner: Instantly. Highest inbox rate in my tests. Warmup works better than competitors. Smart sending limits prevent you from shooting yourself in the foot.
Ease of Use
| Factor | Instantly | Lemlist | Smartlead |
|---|---|---|---|
| Setup Time | 30 minutes | 1-2 hours | 2-3 hours |
| Learning Curve | Easy | Moderate | Steep |
| Daily Management | 5-10 min/day | 10-15 min/day | 15-20 min/day |
| Interface | Simple, focused | Modern, feature-rich | Complex, powerful |
Winner: Instantly. Simplest to set up and use daily. Lemlist is good but more complex. Smartlead requires real time investment.
Features That Actually Matter
| Feature | Instantly | Lemlist | Smartlead |
|---|---|---|---|
| Email Accounts | Unlimited | 15-90 (tier-based) | Unlimited |
| A/B Testing | Yes | Yes | Yes |
| Image Personalization | No | Yes | No |
| Video in Email | No | Yes | No |
| LinkedIn Integration | No | Yes | No |
| Call Tasks | No | Yes | No |
| White Label | No | No | Yes |
| Master Inbox | Yes | Yes | Yes (advanced) |
Winner: Depends on your needs. Lemlist wins for multi-channel. Instantly wins for pure email. Smartlead wins for agencies.
Pricing Reality Check
What you'll actually pay (3-person sales team):
- Instantly: $97/month for Hypergrowth plan = $97/month total (plan covers whole team)
- Lemlist: $99/user/month × 3 users = $297/month total
- Smartlead: $94/month for Pro plan = $94/month total (plan covers whole team)
Winner: Smartlead by $3/month, but Instantly is better value. Lemlist is 3x more expensive for multi-user teams.
What You Should Actually Choose
Choose Instantly If:
- You're sending 500+ cold emails per day
- Deliverability is your #1 priority (it should be)
- You want the best value for money
- You need unlimited sender accounts
- You want simple setup and daily use
- You're an agency managing multiple clients
Bottom line: Best choice for 80% of teams doing cold email. Great deliverability, best price, unlimited scaling.
Choose Lemlist If:
- You need multi-channel (email + LinkedIn + calls)
- You want to stand out with personalized images/videos
- You're competing in saturated markets
- You have budget for the premium pricing
- Your outbound strategy is creative, not just volume
Bottom line: Best for teams that need more than email. Worth the premium if multi-channel matters to your strategy.
Choose Smartlead If:
- You're a power user who wants maximum control
- You're managing 20+ sender email accounts
- You need white-label options (agencies)
- You have time to learn complex platform
- You want advanced AI sending optimization
Bottom line: Best for advanced users and agencies. Too complex for most teams just starting cold email.
The Stuff That Doesn't Actually Matter
Vendors love talking about features that sound good but don't move the needle:
- "AI-powered subject lines" - Your subject line matters, but AI doesn't write better than you after testing
- "Advanced analytics" - You need: open rate, reply rate, bounce rate. Rest is noise.
- "Unlimited campaigns" - You'll run 1-3 campaigns max. Nobody needs "unlimited"
- "API access" - Unless you're building custom integrations (you're not), you don't need this
- "Chrome extension" - Nice to have, not a decision factor
My Real Recommendation
Start with Instantly. It's the best value, best deliverability, and simplest to use. Run it for 3 months.
If you hit these situations:
- You're consistently hitting sender account limits → Stay with Instantly (unlimited accounts)
- You need multi-channel outreach → Switch to Lemlist
- You're an agency needing white-label → Upgrade to Smartlead
- You just want simple cold email → Stay with Instantly
Don't buy Lemlist or Smartlead first unless you KNOW you need their specific features. Most teams don't.
What About [Other Tool]?
Apollo.io: Good for data + email combo. Email features are fine, not great. Read full review →
Outreach/SalesLoft: Enterprise sales engagement platforms. Overkill and overpriced for cold email only. Read full review →
Reply.io: Middle ground option. Not as good as these three. Read full review →