Social media marketing should be two things for companies:
1. It should be profitable.
2.It should be social.
If your business is running social media you need to be able to say without a shadow of a doubt that it is profitable and be able to site why. How do you know it's profitable? What are you doing to ensure it stays profitable?
If you just have social media to send out a couple updates, occasionally, then you are missing the point. As a business owner, you need to be able to check the pulse of your social efforts and see: 1. Are you or your team pursuing potential clients? 2. Are potential customers reaching out to you on social before contacting you via either phone or email?
Social media levels the playing field. It provides newcomers to nearly any industry a chance at talking to decision makers. If you want a big international company's business, what are you doing at capturing it? Are you starting conversations with their staff? Are you talking to them about their pain points? Are you able to build a relationship with them that allows you the possibility to suggest your products as a solution?
Using a cohesive strategy on social media should help with customer service issues as well. By being social on /social media/ you can also help your current customers with complaints or issues. A blog post from Buffer cites:
If you are one of those businesses using social for the betterment of your business. The only way to achieve those kinds of results are to actually communicate with your customers. This means thanking them for retweeting your message, responding to their questions /in real time/ -- even on Christmas.
If you aren't committed to being social, then it doesn't make sense to be able to find profits online using Facebook or Twitter.