I run auctions for business owners with email lists with 1k+ subscribers, and can bring in 5-6 figures in 7 days. I get all my clients from Facebook and cold DM. I've sent around 400 DMs and landed 5 clients. I have no idea if that's good, average, or could be improved. My current DM process is very direct. I make an offer in the first message. Not sure if a more indirect approach would work better (like making small talk before the offer). Also, tried the approach with a smaller sample size on LinkedIn (around 200 DMs) but never landed any clients there. Happy to give your method a try for LinkedIn and see what happens.