This video and accompanying statistics are all from Socialnomics.

I have not found a better way to describe the power of the Social Media phenomenon and so I have included it here.  Please visit their site with any feedback, questions or additions as they say they want to:

Keep your feedback/questions/challenges coming as it will collectively make video #2 that much better – you know leverage this whole “social” thing.

Statistics from the Video are following: (sources listed below by corresponding #) (continued in post…)

The influence and power of today’s Social Media cannot be overestimated.  The Social Media phenomenon is indeed here to stay.  It will grow and change and morph with popular trending topics and media campaigns, but that is why it has such staying power: precisely because it will adapt to the ever-changing market currents.

Consumers now have more freedom than ever to pursue their interests online.  They surf the web, shop and compare the value and cost of products.  They connect with each other through Social Media outlets to make important business decisions as well as casual recreational pursuits.  In current economic times, why wouldn’t you want to use these free marketing tools to your best advantage?