SMC Orlando Presents "Five Effective Social Media Metrics for ROI"
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On Tuesday, June 8th, Social Media Club Orlando held an event at the UCF Executive Development Center....

On Tuesday, June 8th, Social Media Club Orlando held an event at the UCF Executive Development Center.

The topic: "Five Effective Social Media Metrics for ROI".

The format: Five local speakers each take a proven Quantitative Social Media Metrics and offer examples along with the pros and cons of each. Each speaker will be given 10 minutes each to cover their metric - 50 minutes total. The remaining time is set aside for Q&A and engagement with the audience.

The venue: The Auditorium at the UCF Executive Center - wifi, AV, stadium seating and room for 140 people

The cost: FREE

Event schedule:

6:30 PM to 6:40 PM - Welcome, agenda and speaker introductions

6:40 PM to 7:30 PM - Individual presentations

7:30 PM to 7:50 PM - Q&A and audience engagement

7:50 PM to 8:00 PM - Event ends

8:00 PM to ??? - SMC Orlando tweet-up at EMBER


Speaker lineup for this event:

• Greg Rollett - http://www.genyrockstars.com/
• Anthony Richardson - http://webfugitive.posterous.com/
• Ashley Lomas -http://www.justecho.com/
• Murray Izenwasser - http://www.biztegra.com/
• Mark Krupinski - http://www.mindcomet.com/


Venue information can be found at: http://maps.google.com/maps/place?um=1&ie=UTF-8&q=ucf+center+downtown+orlando&fb=1&gl=us&hq=ucf+center&hnear=downtown+orlando&cid=13547537993679856115&ei=V0nrS4_yEIL78Absu9yuBA&sa=X&oi=local_result&ct=result&resnum=4&ved=0CCgQnQIwAw

Feel free to post a question or contact mark.krupinski@gmail.com with any questions.

Also, if you are interested in either volunteer opportunities or considered for a future speaking slot, please let me know.

Cheers,

Mark

This event was sponsored by MindComet (http://www.mindcomet.com/)

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SMC Orlando Presents "Five Effective Social Media Metrics for ROI" Presentation Transcript

  • 1. Welcome to "Five Effective Social Media Metrics for ROI"
  • 2. Crowdsourcing Contests Greg Rollett @g_ro rollettmarketing@gmail.com
  • 3. Crowdsourcing the act of outsourcing tasks, traditionally performed by an employee or contractor to a large group of people or community (a crowd), through an open call. Wikipedia - http://en.wikipedia.org/wiki/ Crowdsourcing
  • 4. Crowdsourcing Contest Having this large group of people or community publicly perform a task as an entry to a contest (hopefully to win a not lame prize)
  • 5. From An ROI Side • How many entrants • Social reach of the task • Social engagement • Cost of advertising / driving traffic • Revenue Generated from any advertising, product sales, etc • Media coverage • Post usage (stuff you do with entries after contest)
  • 6. Appreciate Nurses A Latte Campaign
  • 7. The Campaign • Have nurses tell “their story” on why they chose to become a nurse • Need to “like” the HealthCareerWeb Facebook Page • Need to share their story • 1 winner a day for 5 days at random
  • 8. Driving Traffic • Email blast to database • Social media profiles • Facebook ads
  • 9. Metrics • Number of New Followers: 142 • Total Interactions: 63 • Social Reach: 5,026 Facebook Users
  • 10. More Metrics Facebook Ads • Total Spend: $155.79 • Total Clicks: 255 • CPC: $0.61 • Spend per Interaction: $2.47
  • 11. Some Big Picture Numbers • Spend –Ads: $155.79 –Gift Cards: $125 • Interactions –63 • Reach –5,026 Facebook Users through wall posts –500,000+ Ad Impresions
  • 12. Pro’s • Interact with your fans/customers • Create strong social proof • Get them interested in product by empowering them • Low cost for high visibility • Hyper targeting and niche specific • Use in future marketing
  • 13. Cons • Fear of low to no entries • Scared of control over entries • Difficulties of tracking overall effectiveness • Prize and reward vs. action
  • 14. Thanks.
  • 15. Anthony’s Presentation titled: “How do we measure success online” can be found via Prezi at: http://prezi.com/zq2avx59n-fw/how-do- we-measure-success-online-smco/
  • 16. Organic Search Metrics Social Media ROI
  • 17. Ashley Lomas VP of Marketing & Interactive Insights • Social Media Evangelist • Years of experience and successful track record online and offline portfolio includes organizations such as:
  • 18. So how does social media help with organic search?
  • 19. Andrew Girdwood, head of search at bigmouthmedia, says: “Search and social are joined at the hip. They represent two of the main fuel cells in a digital campaign. Search and Social aid one another, boosting one another, while each being an independent entity in its own right. It’s a healthy relationship.” Teddie Cowell, SEO director at Guava, adds: "There is a very strong relationship between search engine marketing and social media. Anything that raises awareness of a brand or particular website, such that it encourages people to search specifically for the brand or website, or increases the probability that a searcher might select that brand or particular website over another within a search engine results page (SERP), is always good for search engine marketing. "There is also a very positive effect in terms of reaching large numbers of people and therefore gaining more links, which is one of the key factors search engines such as Google look at when ranking web pages." As Cowan points out, it is important to identify two areas where social media impact SEO in order to understand properly how the former might drive the latter.
  • 20. As Cowan points out, it is important to identify two areas where social media impacts SEO in order to understand properly how the former might drive the latter. The first, says Cowan, relates to Google’s “universal search” updates which means that there is increased prominence in the SERPs (search engine results pages) for “non-core” listings such as images, blogs, news, maps and shopping listings. Some of these elements fit into the “social” category and some do not. Blogging, for example, is very much in the realms of social media but influencing bloggers is more the domain of online PR rather than traditional SEO.
  • 21. Social Media & SEO 5 Steps to success
  • 22. 1. Find the audience Understand their behaviors, preferences, methods of publishing, and sharing. Most companies that are involved with the social web in the channels where their customers spend time have a good sense of where to start. Many companies are ahead of the game by tracking their audience via social media monitoring software that identifies keywords, conversations and influencers such as Radian6.
  • 23. 2. Define your objectives Objectives are often driven by marketing or sales, and SEO has long been directly accountable to substantial improvements in web sales. Social media is not direct marketing though, so different objectives and measurements apply. The role of SEO in a social media effort is to directly influence discovery of social communities or content via search. Do a search for Zappos on Google, for example, and you’ll easily find more than shoes: Twitter, Blog and a YouTube channel are all on the first page of search results.
  • 24. 3. Establish a game plan The game plan for reaching objectives in a combined SEO and social media effort will often focus on content and interaction, since it is content that people discover and share. Whether a keyword-focused strategy for reaching goals means publishing new content or creating an opportunity for consumer- generated content, it must involve proactive promotion and easy sharing amongst members of the community.
  • 25. 4. Create a tactical mix The tactical mix for a social media marketing effort is based on doing the homework of finding where the desired audience spends its time interacting with and sharing content. Whatever the tactical mix is, it’s an investment in time and relationships – not a short term “link dump” to promote optimized link bait. Much of the content creation and promotion for a social media marketing effort happens within the tactical mix and, of course, that means optimizing content for keywords. Whether content is created by marketers as part of a social destination like a niche community or a promotion vehicle such as an interactive ad, keyword glossaries become useful for writing headlines, deciding on anchor text for links and outreach activities like blogger relations.
  • 26. 5. Measure your goals Goals measurement should roll up to the specific objectives, both direct and indirect. Leveraging both social media monitoring services as well as web analytics can provide marketers with the insight to improve results. Radian6 and Webtrends have recently announced a partnership that will bring web analytics and social media analytics together all in one interface. In the meantime, marketers can use specific measurement tools to monitor the effect of their social web participation as well as the search engine performance of SEO efforts.
  • 27. Thank you! Hopefully you found this information useful?
  • 28. Social Media Metrics for ROI June 8, 2010 Social Media Club - Orlando Murray Izenwasser @murrayiz www.ContactMurray.com © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 29. If you like what you hear, please Tweet Post Blog about it © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 30. So, Who Is this Guy? © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 31. Revenue (the only metric that really matters) © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 32. Very Much! © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 33. Oh, You Want to Know How? © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 34. Quick Question How are you measuring marketing success now? © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 35. With One Of These? – Pageviews – Number of leads/period – New 'friends' after 30/60/90 days – Unique visitors – Number of qualified leads/period – Number of friends met online that – Members – Ratio of qualified to non-qualified users have met offline – Posts (ideas/threads) leads – Number of friends met online that – Cost of lead member has subsequently – Number of groups (networks/ collaborated with forums) – Time to qualified lead – Number of ideas that the user has – Comments & Trackbacks – Lead conversion gotten and then used in their work – Tags/Ratings/Rankings – Number of pre-sales reference calls – Net Promoter Score – Time spent on site (to other customers) – Average new revenue per customer – Meme Lifecycle – Contributors – Number of mentions (tracked via – Active contributors – Lifetime value of customers web or blog search engines) – Word count – Customer satisfaction – Positive/Negative listing ratios on – Referrals – Number of initiated support tickets major search engines per customer per period – Completed profiles – Support cost per customer in – Connections (between members) community – Ratios – Member to contributor – Product Development – – Posts to comments Completed profiles to posts – Number of new product ideas – Periods – % of ideas from customers / – By day prospects / community – Week – Month – Idea to development initiation cycle – year time – Frequency – Revenue/Adoption rate of new – of visits – Posts products from community vs. – Comments traditional sources – Satisfaction – Retention/Employee turn over – Affinity – Time to hire – Quality and speed of issue – Prospect identification cost resolution – Prospect to hire conversion rate – Referral likelihood – Hiring cost – Relevance of content, connections http://www.thesocialorganization.com/social-media- – Training cost metrics.html – Cost per number of engaged – Time to acclimation for new http://www.interactiveinsightsgroup.com/blog1/ prospects employees social-media-metrics-superlist-measurement-roi-key- statistics-resources © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 36. Quick Question What would you base an employee’s pay on? © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 37. One Of These? – Pageviews – Number of leads/period – New 'friends' after 30/60/90 days – Unique visitors – Number of qualified leads/period – Number of friends met online that – Members – Ratio of qualified to non-qualified users have met offline – Posts (ideas/threads) leads – Number of friends met online that – Cost of lead member has subsequently – Number of groups (networks/ collaborated with forums) – Time to qualified lead – Number of ideas that the user has – Comments & Trackbacks – Lead conversion gotten and then used in their work – Tags/Ratings/Rankings – Number of pre-sales reference calls – Net Promoter Score – Time spent on site (to other customers) – Average new revenue per customer – Meme Lifecycle – Contributors – Number of mentions (tracked via – Active contributors – Lifetime value of customers web or blog search engines) – Word count – Customer satisfaction – Positive/Negative listing ratios on – Referrals – Number of initiated support tickets major search engines per customer per period – Completed profiles – Support cost per customer in – Connections (between members) community – Ratios – Member to contributor – Product Development – – Posts to comments Completed profiles to posts – Number of new product ideas – Periods – % of ideas from customers / – By day prospects / community – Week – Month – Idea to development initiation cycle – year time – Frequency – Revenue/Adoption rate of new – of visits – Posts products from community vs. – Comments traditional sources – Satisfaction – Retention/Employee turn over – Affinity – Time to hire – Quality and speed of issue – Prospect identification cost resolution – Prospect to hire conversion rate – Referral likelihood – Hiring cost – Relevance of content, connections http://www.thesocialorganization.com/social-media- – Training cost metrics.html – Cost per number of engaged – Time to acclimation for new http://www.interactiveinsightsgroup.com/blog1/ prospects employees social-media-metrics-superlist-measurement-roi-key- statistics-resources © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 38. Probably Not © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 39. You May Be Asking… Um, Then How? © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 40. Establish a Baseline © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 41. With All Of These – Pageviews – Number of leads/period – New 'friends' after 30/60/90 days – Unique visitors – Number of qualified leads/period – Number of friends met online that – Members – Ratio of qualified to non-qualified users have met offline – Posts (ideas/threads) leads – Number of friends met online that – Cost of lead member has subsequently – Number of groups (networks/ collaborated with forums) – Time to qualified lead – Number of ideas that the user has – Comments & Trackbacks – Lead conversion gotten and then used in their work – Tags/Ratings/Rankings – Number of pre-sales reference calls – Net Promoter Score – Time spent on site (to other customers) – Average new revenue per customer – Meme Lifecycle – Contributors – Number of mentions (tracked via – Active contributors – Lifetime value of customers web or blog search engines) – Word count – Customer satisfaction – Positive/Negative listing ratios on – Referrals – Number of initiated support tickets major search engines per customer per period – Completed profiles – Support cost per customer in – Connections (between members) community – Ratios – Member to contributor – Product Development – – Posts to comments Completed profiles to posts – Number of new product ideas – Periods – % of ideas from customers / – By day prospects / community – Week – Month – Idea to development initiation cycle – year time – Frequency – Revenue/Adoption rate of new – of visits – Posts products from community vs. – Comments traditional sources – Satisfaction – Retention/Employee turn over – Affinity – Time to hire – Quality and speed of issue – Prospect identification cost resolution – Prospect to hire conversion rate – Referral likelihood – Hiring cost – Relevance of content, connections http://www.thesocialorganization.com/social-media- – Training cost metrics.html – Cost per number of engaged – Time to acclimation for new http://www.interactiveinsightsgroup.com/blog1/ prospects employees social-media-metrics-superlist-measurement-roi-key- statistics-resources © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 42. Start Your Programs © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 43. Track Everything © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 44. Create Activity Timelines © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 45. Look At Revenue © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 46. Match It All Up How was this group Touched by SM? Before After © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 47. Easy, Peasy, Lemon Squeezy? © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 48. A Great Little Presentation (special thanks!) http://www.slideshare.net/thebrandbuilder/olivier-blanchard-basics-of-social-media-roi © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 49. A Very Good Little PDF http://www.radian6.com/wp-content/uploads/2010/03/Radian6_eBook_March2010.pdf © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 50. © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 51. (You?) © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 52. Photo Credits Alberto Paroni / www.io-me.info Brian Lary / http://www.sxc.hu/profile/blary54 ilker / http://www.sxc.hu/profile/ilco Duane Jones / http://www.beglitterati.com Kriss Szkurlatowski / http://www.sxc.hu/profile/hisks Svilen Milev / http://www.facebook.com/group.php?gid=307482866218 Andrew Beierle / andrewbeierle.com Gabriel Del castillo / http://girovisual.com/tours.php Murray Izenwasser / http://murrayiz.com © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 53. Social Media Metrics for ROI June 8, 2010 Social Media Club - Orlando Murray Izenwasser @murrayiz www.ContactMurray.com © Biztegra, Inc. May not be Reproduced in whole or part, without express permission. All rights reserved www.contactmurray.com
  • 54. The Net Promoter Score A case for consideration Mark Krupinski Director of Social Media, MindComet @markkrupinski
  • 55. The Net Promoter Score An unfamiliar metric in the world of social media... ...but used by business since 2003...
  • 56. Social Media Let’s Define It Social media are media for social interaction, using highly accessible and scalable publishing techniques...
  • 57. The Cluetrain Manifesto Thesis #8 "In both internet worked markets and among intranet worked employees, people are speaking to each other in a powerful new way."
  • 58. The Cluetrain Manifesto Thesis #13 "What's happening to markets is also happening among employees. A metaphysical construct called 'The Company' is the only thing standing between he two."
  • 59. Brand Monitoring Keyword Algorithms Keyword based search algorithms w/ "sentiment" attached (70% accuracy)
  • 60. Brand Monitoring Contextual Algorithms Accurate, but very expensive...
  • 61. The Net Promoter Score Let’s Define It "Net Promoter® is both a loyalty metric and a discipline for using customer feedback to fuel profitable growth in your business. Developed by Satmetrix, Bain & Company, and Fred Reichheld, the concept was first popularized through Reichheld's book The Ultimate Question, and has since been embraced by leading companies worldwide as the standard for measuring and improving customer loyalty. The Net Promoter Score, or NPS®, is a straightforward metric that holds companies and employees accountable for how they treat customers. It has gained popularity thanks to its simplicity and its linkage to profitable growth. Employees at all levels of the organization understand it, opening the door to customer- centric change and improved performance. Net Promoter programs are not traditional customer satisfaction programs, and simply measuring your NPS does not lead to success. Companies need to follow an associated discipline to actually drive improvements in customer loyalty and enable profitable growth. They must have leadership commitment, and the right business processes and systems in place to deliver real-time information to employees, so they can act on customer feedback and achieve results."
  • 62. The Net Promoter Score A Definition Continued “NPS is based on the fundamental perspective that every company's customers can be divided into three categories: Promoters, Passives, and Detractors. By asking one simple question — How likely is it that you would recommend [Company X] to a friend or colleague? — you can track these groups and get a clear measure of your company's performance through its customers' eyes. Customers respond on a 0-to-10 point rating scale and are categorized...”
  • 63. Why Did I Pick This Metric? One simple Question Low cost metric to deploy Applicable to External & Internal Customers
  • 64. General Electric Example #1 “He and other [in 2004] GE Healthcare executives quickly rolled out net promoter scores in place of the satisfaction surveys some divisions were using. ‘It was a 'Texas hold 'em' kind of thing,’ he says. ‘We went all in.’ Twenty percent of managers' bonuses were tied to the scores, which closely tracked sales growth. Then, in January, 2005, members of McCabe's team shared the idea at GE's annual global leadership meeting in Boca Raton, Fla., where CEO Jeffrey R. Immelt greeted the approach with enthusiasm. As a result, in 2006 all GE businesses must report net promoter scores for the first time. "I have little doubt that this will be as big and long-lasting for GE as Six Sigma was," says McCabe of GE's vaunted and much-copied quality system.”
  • 65. Charles Schwab Example #2 “Every day, managers at each of Schwab’s 306 branch offices and five call centers conduct a similar drill. It’s an integral part of a new focus on direct customer feedback that the firm’s founder, Charles Schwab, credits with turning around the company. When he came out of retirement to take its helm in 2004, the business was struggling. ‘We had lost our connection with our clients—and that had to change,’ Schwab confessed to shareholders in the annual report. The new customer feedback system has helped reestablish that connection. In 2008, the firm saw its revenues increase by 11% and the scores that customers gave the company jump by 25%. And while the financial services industry was rocked by turbulence, Schwab clients entrusted $113 billion in net new assets to the firm, and the number of new brokerage accounts increased by 10%.”
  • 66. Facebook Example #3 “More people have posted status updates worried about Facebook beginning to charge than privacy concerns. We’ve seen no meaningful change in any stats [related to these concerns]. Every time we roll out a product, our net promoter score initially drops, but after a few weeks it comes up, it usually is higher. After f8, we saw a drop in our net promoter score, which we thought must be due to privacy issues. But when we dug into it further, it turns out it was from a change we made to our news feed algorithm regarding the relative weighting of photos versus games. I take our privacy issues very seriously.”
  • 67. The Net Promoter Score Example of Implementation
  • 68. The Net Promoter Score What’s The Good? Consistent measuring stick Great for the long term Internal & External Metric
  • 69. The Net Promoter Score What’s The Bad? No scientific evidence that "recommending" is better than other loyalty questions Not good for companies trying to make a “quick buck” Metric of correlation
  • 70. The Net Promoter Score Key Takeaways Since Brand Monitoring is not perfect, this is a good standard to consider Use it on a Quarterly basis as a “secondary” metric Use it for both external and internal customers
  • 71. Credits I’d Like to Thank... Slide 2: http://www.theultimatequestion.com/ theultimatequestion/download_photos.asp?groupcode=6 Slide 3: http://www.flickr.com/photos/porternovelli/ 3102296497/sizes/m/ Slide 4 & 5: http://www.ils.unc.edu/dpr/other/blogs/ Slide 6: Courtesy of Mark Krupinski's delicious account Slide 7: Courtesy of Crimson Hexagon Slide 8: http://www.netpromoter.com/np/index.jsp Slide 9: http://www.netpromoter.com/np/calculate.jsp Slide 10: http://www.flickr.com/photos/wadem/2730257498/ sizes/l/ Slide 11: http://www.businessweek.com/magazine/content/ 06_05/b3969090.htm?chan=db and http://www.ge.com/ citizenship/performance_areas/customers_focus.jsp Slide 12: http://hbr.org/2009/12/closing-the-customer- feedback-loop/ar/1 Slide 13: http://www.facebook.com/#!/press/info.php?execbios and http://www.insidefacebook.com/2010/05/26/live-blogging- facebooks-privacy-changes-presentation/ Slide 15: http://www.flickr.com/photos/andrew_nielsen/ 4453152488/ Slide 16: http://www.flickr.com/photos/mscaprikell/30790829/ Slide 17: http://www.flickr.com/photos/carianoff/2849384997/ Slide 18: http://www.flickr.com/photos/psd/2086641/ And Everyone who helped out with this event :)
  • 72. Let the Questions Begin!