Social networks are not just about you but connecting with your customers. It also it allows them to connect with you as it is a fact that by having a social site, you have fundamentally increased your channels to share and syndicate your content. According to reports, 73.4% of users will follow a brand because of their interest in the product or service and fits well with the attention span of today’s people and if you’re a marketer you probably realize you have just a few seconds to grab someone’s attention. Read more at: 

https://www.business2community.com/social-media/why-is-social-media-important-for-businesses-02142048

According to the 5th annual Sensis Social Media Report, the percentage of small businesses with social media accounts has declined from 37% in 2014 to 31% in 2015. 68% of the broader population use social media sites, 61% of small businesses don't know how much they spend on social media each year, with just 17% actively measuring return on investment. 57% of small businesses don't know whether they've recovered their investment in social media. 70% of consumers' access social media from a smartphone, 52% use a laptop, 34% use a tablet and 28% rely on desktop computer. To know more, please read this interesting article by ANDREW SADAUSKAS (tech-company editor) at: http://www.smartcompany.com.au/technology/social-media/46997-small-businesses-flying-blind-on-social-media-and-some-are-walking-away-report.html 

Social media has opened the gates of consumer data and outdated demographic advertisements. Companies can gain a lot of information on individuals through their social media accounts. Every post made, comment liked, or page shared gives an insight into who we are. New features also allow social media sites to learn why certain ads don’t appeal to us, and which ones we tend to react more. Managing vast information in a social media site is a complicated process. Read more at: http://www.socialmediatoday.com/content/using-data-better-social-retargeting