V is for Value
Where Value is a two-way street.
It’s not just about what your consumers can do for you, but more importantly what you can do for them.
It’s all about Value Exchange. You need to show the consumers what’s in it for them. Why should I give you my email address? Why should I sign up to your Facebook page? Why should I sign up for your rewards scheme? Without a clear benefit (which admittedly might at some stage only be because they want to be associated with a cool brand), there is no reason for a consumer to give you Permission to engage with them.
Of course different customers provide you with differing levels of value, but let’s not just judge value in terms of revenue. Value can also be based on their ability to influence others, or by how many touch-points they engage with you.
And conversely, all customers are equal, but it’s just that some are more equal than others.