What the HELL is social media explains in 2 minutes using 10 key facts why brands need to take notice of social media:

Here is a breakdown of the reasons listed in the video (via JD Rucker):

1. Social media is now the number one online activity, beating porn and personal email to the top spot.

2. Because 2/3 of the global Internet population visit social networks.

3. Because time spent on social networks is growing at 3X the overall Internet rate, accounting for 10% of all Internet time.

4. Because online, including social media, has become the most influential source in helping consumers make purchasing decisions.

5. Because millions of people are creating content for the social web.

6. Because the next 3 billion consumers will access the Internet from a mobile device.

7. Because Facebook is now the operating system of the social web.

8. Because Twitter believes it will have 1 billion users by 2012.

9. Because one way marketing has had its day.

10. Because in almost all cases social media is free.

(click here if you cannot view the embedded clip above)