This document provides an overview of social media and why companies should engage with it. In 3 sentences: It discusses how social media usage has grown tremendously, with billions of users worldwide spending significant time on sites like Facebook and YouTube. While many companies have a social media presence, most do not truly engage with customers and communities through two-way conversations. The document argues that for companies to truly benefit from social media, they need to define a strategic approach focused on conversations rather than one-way marketing and be willing to listen to and engage with customers.