A close friend of mine contributed to writing the article "What is the ROI of a Loyal Customer?". It is absolutely mind blowing! 5.2 Million over 10 year! ( read the full article here: https://martech.zone/what-is-the-roi-of-customer-loyalty/ )
But how do you create loyaly? Loyalty comes from when people feel an emotional connection to you and your company. Emotions are what drives behaviours. So when you can establish that connection, suddenly you lift the burden of needing to constantly rely on price/time incentives or persuasion tactics to get people to keep coming back.
But how do you establish an emotional connection. People feel an emotional connection to something they believe in. "People don't buy what you do, they buy why you do it" - Simon Sinek. You need to communicate your purpose, your story, your vision and impact so clearly that they can sell it.
Everyone has a WHY which means every business has a WHY. In fact, yours is probably incredibly inspiring. You have something with the ability to change the world massively. But most businesses have no idea how to communicate it to their prospects (or even to their employees or venture capitalists!) so they retreat to the safe space of talking about WHAT they do, it's features & benefits etc. (running away from establising an emotional connection back into the "logical" realm).
To create an emotional connection, start with yourself
Alara is a WHY discovery coach, NLP practitioner, a Rite of Passage Facilitator and a Yoga/Meditation teacher. She specialises in helping business owners find and articulate their vision.