Social Media Marketing Doesn't Work?

I recently saw a presentaton by Poetic Systems sponsored by Friendswood Development. Matthew Hagar read some pretty amazing stats:

Social Media surpassed personal email in online use
4th largest use of a PC
10% of al time spent on the computer is spent on Social Media
13 HOURS of video is uploaded on youtube EVERY MINUTE
Twitter has a 1382% growth rate per MONTH
5 BILLION facebook posts a day
2/3 college grads are social media users
35+ year old is the fastest growing group

What do you do?