Write the first line for one person, not the segment
The opening line is the entire battle. A buyer decides almost instantly whether this is a personal message or a blast, and that decision colours everything they read after. If line one could be sent to a thousand people unchanged, you have already lost most of them.
The fix is not a mail-merge token. "Hi {{first_name}}, I saw {{company}} is growing" is a personalised blast, and everyone recognises it as one now. The numbers back the instinct: no real personalisation lands a 1 to 3% reply rate, basic merge-field personalisation 5 to 9%, and a genuine reference to something specific can lift replies two to five times over when the list is already solid (Prospeo, SalesCaptain). Real personalisation references something you could only know by having looked, a line from their last talk, a claim on their pricing page, a decision they made that you have an opinion about. It proves attention, and attention is the currency.
You cannot hand-research every contact at volume, so build a tiered approach. The top tier gets a genuinely written first line, one human, one minute each. The middle tier gets a strong line built from a reliable structured signal, assembled to read naturally rather than slotted into a template. The long tail gets a sharp, segment-specific point of view that is at least true and pointed.
Worked example. Generic: "Hi Sarah, I saw Acme is growing fast and thought our platform could help." Triggered: "Sarah, you posted three RevOps roles in a fortnight, which usually means the handoffs between marketing and sales are starting to leak before the new hires can plug them." The second proves you looked, names a problem they feel, and earns the next two sentences. Keep the whole email under 80 words, the band that correlates with the highest response in large datasets (Built For B2B). For the craft underneath the line, lean on The craft of copywriting.