No one has time for lengthy how-to vids or blog posts so I broke the process of organizing your inbox down into two parts. Part 1 is a 4.26 minute video that explains what labels are and why they are awesome. Part 2 is a 4.0 video demonstrating how to actually use labels.
Part I: What are Gmail Labels and Why Use Them?
Here is the transcript of the Part I video if you prefer to read it.