stylesmart.com is pleased to welcome Lois Beery of Millennium Fashion Services as Contributing Editor to stylesmart.com's Retail Trend Reporting and Consulting Services.

As a former buyer and merchandiser, Lois Beery brings over thirty years of fashion experience to Millennium Fashion Services (MFS). Lois' background includes an extensive tenure within the 'majors' and the specialty market.

Whether you own a specialty store in a small town, are a buyer or merchandising manager at one of the department store giants, or are a designer/manufacturer, MFS offers personalized services tailored to individual needs that will ultimately improve your bottom line.

Harness the Power of Focus Groups

By Lois Beery, Millennium Fashion Services

The lifeblood of any business of course is the customer. Serving your customer is your #1 priority - finding out what they want, not what you 'think' they want is crucial. In the words of the retired CEO and President of Wal-Mart Stores, Inc., David Glass, "listen to the customer and they will tell you what they want."

One of the best ways for smaller companies to do this is to form Focus Groups. They can be a powerful means to evaluate current services and test new ideas:

1) Formally ask five to six (5-6) of your best customers if they would serve on a panel to conduct monthly or quarterly discussions.

2) Hold meetings in a place away from your business. This could be a breakfast or lunch meeting that takes participants away from the retail outlet in order to objectively guide feedback.

3) If your customer base is located around the country schedule a conference call instead.

4) Switch panel members every six (6) months or once a year.

5) Conduct meetings with no more than one or two topics - too many topics can dilute feedback needed for important issues.

6) Recap the meetings and send notes to the panel members with ideas you intend to implement. Thank each member with a token of your appreciation and let them know that you value their input.

Receiving panelists' feedback and possible ultimate referrals is critical and is also one of the most cost effective ways to advertise. Unleashing the ideas, knowledge and possible innovation from these key customers can propel your business forward in untold ways.

Focus Groups Can:

1) Provide firsthand insight to current consumer needs
2) Identify future needs before the consumer even realizes the need
3) Suggest ideas for meeting those needs
4) Help to craft a loyalty program
5) Create additional value for your company

To thank and encourage focus group members, consider offering:

1) A complimentary breakfast, lunch or refreshments
2) A business or store discount during tenure on panel
3) Additional incentives for new customer referrals
4) React as quickly as possible to suggestions made during sessions
5) Exciting reasons to return to the next session
6) Make them feel that they are one of your most important business assets
7) Show and tell them how valued they are to you

Now go do it!

© J.L. Beery

To learn more about Millennium Fashion Services and how they can help contact stylesmart.com at retailservices@stylesmart.com or 1-877-427-4464 or visit www.mfashions.com.

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