Low-hanging fruits are for the unevolved, uncreative, unremarkable, and non-specific.
It takes little-to-no talent or skill to merely gather up the easy customers (the ones within easy reach or what others leave behind). While they seem to be ‘easy pickin’; they come with some pricey challenges.
Nearly everyone competes for them causing big demand for a limited supply. It costs significantly more to sell in highly competitive markets.
They tend to be least loyal. Again, with aggressive offers extended to them, they often make decisions based on deals or low prices – both of which always fluctuate.
They are relatively unfulfilling. Like the partially eaten, trampled, and scarred fruits left behind by industry giants; these prospects often demand more attention, higher value, and lower fees.
They can be good for a quick burst of cash-flow – as in either building initial momentum or seasonal growth. New sales people can develop and practice their techniques with this audience. It is even good for seasoned professionals to come here to further refine their skills.
Sadly, many companies focus too much of their resources towards this audience and practically starve themselves – all the while, the only thing separating them from abundance is a bit of creativity or entinuity.
Here are a couple ways to tell if you are going for low-hanging fruits.
Tiny piece of a large pie.
‘The LMNOP industry sees $350 Trillion in annual purchases. If we could just get 1/100,000,000th we would have $350 Million in annual revenue. While it makes sense from a numbers perspective; there is little accounting for how the industry was actually built, the expensive lessons others have already learned, loyalty of consumers, their desire or reluctance to change (even when loyalty isn’t an issue), and economics of working on small margins.
This does not leave much room for building connections with influencers, wholesalers, resellers, marketers, or customers; and seems to force strategies down to the least common denominators.
Instead; you might find that it stops being fun for everyone when you operate with more than 100 employees across 4 easy-to manage office locations. The pie might be smaller, but it is likely that the profits would be better, as will your reputation in each of the communities – not to mention everyone’s personal relationships.
Discounting your competition.
So what if your product is better, if your price is lower, value proposition more polished, company reputation is stronger, or you have more collective experience; remember that decisions are not made based on logic. They are made on emotional connections. None of these ‘competitive advantages’ caters to emotional connection very well.
Direct competitors get most of the market attention because they are offer a similar products/services. But indirect competitors (in unrelated industries, yet compete for limited resources like funding or attention) often have more influence. A SaaS platform that maximizes operational efficiencies might indirectly earn the decision over an equally-sized marketing investment that guarantees ample qualified leads each month
Shrugging your strengths.
A giraffe is quite skilled at plucking vegetation high up in trees; but drinking water is a real struggle that exposes their weaknesses. Both individuals and organizations rise when they acknowledge, understand, and focus on their strengths. Consequently, they also fail when they ignore their strengths to chase a flashy opportunity.
There is diversity in every market, and that diversity should be embraced. As you become something (someone) unique and authentic; you’ll find more opportunities to thrive.