It means 8 or 16 Gigabyte Solid State Memory. Its the storage type used for many small laptops given its size and stability.

64gb ssm
There are a few different types of Hard Drive or Storage Memory on a small laptop or netbook.
IDE Hard Disk Drive (HDD) – Is an old standard used on most desktop computers prior to 2003/2004.
SATA Hard Drive – Is the new standard of hard drive which transfers data faster than a standard IDE Hard Disk drive
Solid State Memory (SSM) – Uses flash memory similar to USB Flash drives or Memory Sticks and Camera Card Memory. More expensive but because there are no moving parts, the long term benefits and reliability is much better
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