How to personalize cold email?

I've been sending cold emails and haven't been receiving the best hit rate. I'm not directly asking for an internship (more about learning their experience) and try to tailor it (if they switch from accounting to IB learning about their transition etc). 

I was wondering what other aspects of a cold email make you inclined to respond, and how you have tailored your email to make it more personable and not seem like a template. 

Thanks

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