The Baggies finished eighth last season but Reid was part of the Blackburn squad who slid to 15th in the table the season after earning a seventh-placed spot.
But Reid, who agreed a new one-year deal earlier this month, is confident Steve Clarke's men can improve on their success.
"Hopefully we can build on last season," said Reid.
"Finishing where we did shows what a good squad we had. So, you would hope we keep as many of the players that did well for us as we can.
"GMac [Gareth McAuley] and myself have put pen to paper on new deals and hopefully we can bring a few more players in to build on that squad because you can quite easily finish the season sixth, seventh or eighth and the following season you can be dragged into a relegation dogfight.
"Disappointingly our form was not the best from the turn of the year and if it wasn't for our early-season form we could easily have been sucked into the bottom half of the table.
"We can't rest on our laurels and think we've arrived as a Premier League team. We just have to go again next season and hopefully equal or better what we did last season.
"It's just a case of having a good pre-season getting everyone as fit as we can and, hopefully with one or two additions, build."