Month: February 2020

GSP Secured $30M in Construction Financing for a Boise Multifamily Community

The Cartee, a new $50 million 161-unit multifamily community in downtown Boise, broke ground in October before the loan secured by George Smith Partners closed. The project is now set for completion in January 2022.

“What is significant about this deal is that we are now seeing more and more institutional capital in the space. Our borrower had multiple lending options on this project and we were able to curate the best option to serve their overall business strategy,” says Jonathan Lee, Managing Director of George Smith Partners.

Read the full article: George Smith Partners Secures $30M Construction Loan (Multi-Housing News)

Miracle Mile Advisors provides insight on diversification to U.S. portfolio

“In the current market environment where valuations are reaching attractive levels in developed Europe relative to the U.S., an allocation to Vanguard FTSE Europe ETF provides diversification to a U.S. portfolio along with relative upside potential,” says Mike Treidl, a director of institutional investments at Miracle Mile Advisors.

Read the full article: 7 Best International Stock Funds to Buy in 2020 (US News)

Los Angeles is leading the nation in hotel construction thanks to market’s strong economy

More hotel projects in Los Angeles are in the construction pipeline than any other market in the US. “There is not just one factor that is influencing the strong hospitality construction pipeline in LA. From strong local job growth, significant corporate expansion/relocation, yield hungry international investors, specifically in Europe, China and Japan, to lenders easing underwriting standards have all fueled the robust hotel development pipeline in Los Angeles,” says Malcolm Davies, principal and managing director at George Smith Partners.

Read the full story: New Hotel Construction is Booming in L.A. (GlobeSt)

Why You Need To Tell Your Customer’s Story in 2020 | eNews from OWC

It’s one thing for a brand to say it. It’s something else when their customer says it. Customer stories are proof that a company’s product or service are valued and trusted. These stories drive new business but more importantly, they make a company more interesting and instill pride in employees.

The challenge is that it takes time and the dedication of a Customer Advocacy Manager or team. This person must identify customers inclined to do more than just push “like” on a social post or offer a review. The customer advocate is looking for people whose stories are so compelling that print and possibly broadcast media would want to hear from them. It’s not something that can be relegated to an intern or junior staffer. One of our clients has an ideal “Patient Advocate Manager,” who spends time, often in person, to dig into the details of how the company changed their life.

Here are a few examples of success stories we’ve used to make news that come from advocates: Abiomed’s patient in Yahoo!, Retina’s client in Adexchanger and CompoSecure’s multiple clients in The Wall Street Journal.

Customer Advocacy Managers are smart, insightful and savvy:

  • Map the stories. There are a number of online tools (WordPress even has a plugin) to create interactive maps that show the location and a few bits of information on the customer being “pinned.” Seeing the data laid out on a map reveals geographic and demographic trends that aren’t immediately recognizable on an Excel sheet or Google Doc. These insights may merit exploration and could lead to the development of newsworthy stories.
  • Tell customer stories to the media where they live. Local reporters are more likely to look for people stories than national news. Also, a compelling customer or patient story can interest local radio or television news. People trust their local news more than national media according to the 2019 Poynter Media Trust Survey.
  • Authenticity is king, wrinkles, warts and all. The best customer or patient stories can’t be contrived or paid for. What they do, how they live, what their hopes and dreams are comes from really getting to know the person. These are all important elements in the customer story. Only then can we learn how our product solved a critical problem in their life or work. Details make it real. Their story in their own words is the goal.
  • Find true fans on the company’s social platform. The customer advocacy manager will search feeds and tags for people who cared enough to post and DM to gauge if there’s interest in further engagement. Great customer advocacy managers find fresh ways to connect on a deeper level with in-person visits to the company’s headquarters or manufacturing facility to see “how things are made” or create events with other happy customers. Good customer anecdotes can go viral too like the Amazon delivery person, who expressed his gratitude to the person who left snacks for him during the holiday. Loyal advocates will come to the rescue when they see a comment that they deem unfair about the company whose products they love.

The success of marketing and public relations programs in 2020 will rely on building trust through the good word of the most important people in your business — your customers. Here’s a link to one of ours: https://www.olmsteadwilliams.com/case-studies/taskus/.

Retina brings in $2.5 million in new funding to expand customer analysis software

Retina, an LA based start up, has brought in $2.5 million for Shopify, an app to process data and get a predicted customer lifetime value for vendors. Michael Greenberg, Retina co-founder and chief executive says “Retina determines which customers will spend more as soon as they make their first purchase, not six months from now. Our customers are saving millions of dollars in online advertising, while also increasing sales.”

Read the full article: LA-based Retina raises $2.5 million in new funding to expand its customer analysis software (TechCrunch)