The answer depends on many factors- and your preference is only one of them.
Websites used to be the foundation of an online presence- social media was like frosting on the cake. Over time, it's risen in popularity and functionality to a point where some businesses don't even need a website- in the same way that mobile has squashed the idea that a 'real' business requires brick and mortar.
Ideally, there's a strategy behind your efforts- one that's congruent with other all marketing collateral. Determining if and how actively social you want to be is an opportunity to reaching customers where they are. The bottom line is figuring out what works for your business.
You may 'live social', but some businesses thrive without it. These outliers usually share one or more of these characteristics:
less than 5 employees
baby boomer owned and operated
small geographic region
offer a unique service or product
are in specific sectors, (construction, arts & crafts, medicine and healing arts, landscaping, etc.)
Businesses that thrive without being 'social'
I recently met a sculptor at the farmer's market who makes lovely iron gates. "What's your website?", I asked, smart phone in hand.
"Don't have one, don't need one", he responded, handing me a card with a phone number and no email address. This business exists through face time, texting and voice.
I know a few owners like him. Word-of-mouth drives their success. Instead of spending hours hunched over a computer or phone, they're in front of customers.
My favorite example is a booming business that sews expensive, hipster blue jeans on site. They have a minimal website, erratic hours and discourage women from placing orders, (too curvy?). When asked if they wanted to join a local chamber the owner said, "Oh, please don't list us- we're too busy already".
What's the right mix for your business? As with most communication challenges, the answer is, "it depends".
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