South Florida resident here. Before the verdict was reached I predicted he would not be found guilty of second degree murder, however I was uncertain about the manslaughter charge. At the end of the day, though, the defense's case for self defense was convincing and is what ultimately led to the verdict. They articulated the following:
1) Trayvon was the one who initiated the fight. According to Zimmerman. Rachael Jeantel's testimony claims Zimmerman did (Trayvon was aware he was being followed. "Get off!"). And phone records indicate that Trayvon was on the phone right up until the confrontation started. I don't know how many people start fights while mid-conversation on the phone.
2) As proof they stated Trayvon's corpse had no wounds other than the bullet wound while showing pictures of a wounded/bloody Zimmerman. Because all signs indicate that Zimmerman wasn't trying to beat up Trayvon. He was attempting to detain him until the police arrived, so of course TM would have no wounds.
3) They claimed the recorded yells for help was in fact from Zimmerman during this beat down, and for good measure he had friends who testified that it was in fact his voice. Both sides had testimony claiming it was TM or GZ's voice.
4) Because Zimmerman's head hit concrete he felt stunned and feared for his life. Again, in a confrontation he started according to witness testimony.
5) Zimmerman's only hope to stop being attacked was to use his gun. Which should have been physically impossible for him to reach if TM was beating him as he claimed and it was holstered against his back
5) Gun forensics show that Trayvon was in fact on top of him when the gun was fired. There was witness testimony that pointed to Zimmerman being on top at some points, indicating it was likely a rolling struggle
The above rhetoric was enough for jury to drop all charges against Zimmerman. They didn't believe beyond reasonable doubt that Zimmerman was guilty of using excessive force in the way that he did.