Really a quick definition is word of mouth. People telling other people about a good or bad deal.
This could be one of the most powerfull advertising methods. Getting people to refer others to your service. Using this with references can be very powerfull.
An example of a very successful Social Feedback loop would be Madoff. While an example of someone who leveraged the positive feedback for bad purpose. however you know how many people were hurt.
Using the Social Feedback Loop for good can be a very successful program.
And yes I will post more this week from my Flordia Trip.
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