Going after low-hanging fruit can be an effective sales and business strategy, but don’t confuse it with “Easy Pickings”. It can be harder than you think to find the fruit, and if found, the opportunity it provides is either limited, and/or may be already picked over. Experts agree that for the most part, a low hanging fruit strategy is not a long term solution. Use it to achieve short term objectives such as making the quarter, and/or as a final push to achieve the annual budget, and/or as a way to stimulate new business sales.
Making this strategy work requires that the low hanging sales are easily identified, available for harvesting and that sales and marketing programs be in place to drive success.
1st Define your low hanging fruit potential in terms of numbers of customers, units sold, selling price and total sales. Creating metrics around these parameters will be used to judge the strategy’s success.
2nd Identify a target customer. Typically the low hanging fruit customer is either a current customer and/or one very familiar with your brand, product and service. Identify a specific product or service that is valued by that customer. This becomes the fruit.
3rd Develop a program to harvest the fruit. Low hanging fruit won’t pick itself. Like any other strategy, success depends on supporting tactics and programs wrapped in a communication/media strategy to get the word out, create interest and achieve desired sales. Programs may include: BOGO, discounts, upgrades, etc.
4th Measure program results and compare it to expected metrics and current sales trends. Look for early indications that would suggest a change in strategies and/or tactics. Should incremental program sales decline overtime, and/or incremental sales and profits slow and/or fall, it may be time ditch the strategy and build a plan that focuses on long term revenue growth.
Need a few quick sales and/or stimulate new business growth? Go with the low hanging fruit strategy. Need long term revenue gains? Go for a strategy that creates an orchard of opportunity.
We are the Launch Advisory Team. Our senior level executives have seen it all. We can help you do both.
President of the Launch Advisory Team.