Professional Equities, Inc August 2019

Insider Passive Residual Income THEULTIMATEPASSIVERESIDUAL INCOME TM August2019 The

FROM THE DESK OF Bill Moist

KEY WAYS TO MAINTAIN YOUR BRAND REPUTATION

H ow I s W ord - of -M outh A ffecting Y our B usiness ?

IMPROVING SELF-STORAGE FACILITY DESIGNS

As a developer of Class A properties, I find the design of many self-storage facilities to be downright ugly. I’ve heard many in the industry complain that the cities are now imposing design requirements on new developments. Our next development, Ennis RV Resort & Stor- age, is embracing imagination and luxury in de- sign. We will be using new construction materials that will also be hailproof and windproof. This beautiful new design is taking a little longer to complete than if we had just chosen the cheap, easily damaged steal construction. The finished project will be worth the extra effort. The RV resort will provide five-star services and amenities less than 30 minutes from downtown Dallas. Each site will have electricity, water, sewer hookups, and high-speed internet. In addition, there will be access to a pool, showers, laundry, bathrooms, meeting rooms, and a dog park. I am very happy that cities are imposing design requirements on new self-storage developments. The orange doors with chain-link fencing looks too much like a prison for my liking.

Your business’s reputation online and offline can affect your profits and brand in major ways, including the word-of-mouth about your company. At the grocery chain Albertsons, new hires learn this: “You lose one customer, you’ve just lost 100. That one customer you lost will tell their friends, and those friends will tell their friends, and so on.” That’s the power of word- of-mouth marketing, or WOM marketing. The good news is that companies do have considerable power in controlling their reputa- tion. To maintain a good brand reputation and keep your WOM marketing positive, check out the following tips. Tracking reviews from popular online channels is essential to curating a positive reputation. The best way to monitor this is to set up a Google alert for your business. Another way to get ahead of any bad reviews is to set up business accounts on Google and Yelp. For Google, you will need to claim your business listing on Google My Business. It’s a great way to allow people to review you, build up your reputation, and spread positive WOM marketing online. You should also keep a tab on reviews posted on social media about your company. Be sure to respond to any reviews or comments. In response to positive reviews, let customers know they’re being heard, and they’ll be more inclined to consider your business next time they want to make a purchase. In addressing negative reviews, be sure to respond quickly, allevi- ate any concerns the customer has, and enable the customer to take down the review. CHECK ONLINE REVIEWS AND COMMENTS

If you enjoyed this newsletter, please share it with a friend.

–Bill Moist

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