The Wall Street Journal sums it up rather nicely:
The president didn’t run on his record or a vision or a plan for the next four years. His campaign consisted of using policy favors to lock up the support of his party’s interest groups—liberals, labor, environmentalists, feminists, minorities—and dehumanizing his opponent, Mitt Romney. It worked.
Or you can review the statement from the Washington Times:
America is now two countries, not on speaking terms. One America tends to be traditionally religious, personally charitable, appreciative of entrepreneurs and suspicious of government. The other tends to be secular or only mildly religious, less charitable on average, skeptical of business and supportive of government as an instrument to advance liberal causes. This was an election that pitted these two cultures against one another.