The GEDC invests in projects that grow the economy and create jobs in Giddings, Texas. We are aggressively pro-business with a proven track record of helping businesses bring projects in on time and under budget. Click the map below to see the projects we have supported and how they have positively impacted our community.
3 Tactics For Encouraging Invaluable Repeat Customers
20 Mar 2022
News
Aside from that first fulfilled order or invoice payment received, nothing warms an entrepreneur’s heart like a repeat customer. How valuable is a steady stream of reliable, recurring business to a business that’s trying to get established? Research consistently finds that repeat customers spend significantly more than new ones while attracting new customers costs five times more than keeping existing ones.
Granted, both retention of current customers and acquisition of new buyers are instrumental to a company’s overall success. It’s just that putting more effort into keeping your brand advocates happy is a smarter financial move than trying to draw in potential new customers. When budgets are tight, it makes sense to invest in the efforts that bring in the highest returns. Repeat customers represent remarkable ROI.
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Entrepreneurs and business owners aren’t known for conformity. They go against the grain because settling for what already exists is less appealing than paving new paths. But this idealism and drive don’t come without risks. About 21.5% of startups fold within year one, and 30% go under in the second...
Best Practices For Retaining Employees
Mar 14 2022The Great Resignation has negatively impacted businesses throughout the United States and the world. As CBS reported, in October 4.2 million Americans left their positions for other job opportunities.
Luke Pardue, Chief Economist of Gusto, told CBS “We serve 200,000 businesses across the country and can use their payroll...
Governor Abbott Touts Texas Economic Exceptionalism At “Why Texas?” Fireside Chat In Austin
Mar 11 2022Governor Greg Abbott today touted the Lone Start State's booming economy and world-class, diverse workforce during the "Why Texas?" fireside chat on economic development in Austin. The Governor was joined by Rex CEO, Peter Rex, and the discussion was hosted and moderated by Texas Economic Development Corporation (TxEDC) President and...
