Social media is a broad term, so in theory the definition could vary from person to person based on what they use it for.
Wikipedia defines it more specifically as “tools for sharing and discussing information among human beings. The term most often refers to activities that integrate technology, telecommunications and social interaction, and the construction of words, pictures, videos and audio. This interaction, and the manner in which information is presented, depends on the varied perspectives and “building” of shared meaning among communities, as people share their stories and experiences.” But then Wikipedia is written by the masses anyhow.
To me, Social Media is simply any online tool or site, that allows interaction with the users and visitors. If you can comment on a post, vote on content, or even just re-arrange the design of a site, then that is social media.
The Common Craft Show has a very easy to follow explanation of what Social Media is, and I wanted to share it with you all.
They also have a nice one for Twitter as well:
How do you define Social Media? Please leave your answer in the comments below.