Survival: Hedge Marketing - Step #1

With your existing businesses, you should have the ability to look back over recent history to analyze customer activity. If you have many customers, start by looking at general trends over the last 1, 2 and possibly 3 years. These periods of time will give you a good contrast from pre-decline to more recent times.

Look for any changes in volume, price, type of services or products purchased. As you view these general changes, begin to look at customer types, niche or segment categories of customers for purchasing behaviors that are unique within their general population. Take the time to develop a detailed profile on each unique segment. Once you have accomplished this, you are ready for the next step of a Hedge Marketing Strategy... For business start-ups, there are ways of finding the same information on markets that you intend to target.

I will provide further detail on step #2 of my Hedge Marketing Strategy in my next post. For your business to be successful, you should have the ability to analyse your customers in this way...