Marketing's magic metric
Robert ShawCass Business School
Which metric is most critical when making decisions? Awareness? Engagement? Loyalty? Satisfaction? Many metrics are used, each of which has its proponents and utility. But there is one metric that trumps the others as a measure of value created, and that is elasticity. In this article, Robert Shaw describes how elasticity can be measured and why it is so significant.
Elasticity is a neglected yet hard-working metric that helps decision-makers choose which activities to expand and which to contract. Its job is to quantify the propensity of customers to switch. For decision-makers,...