Is Social Media Marketing important for every company?

If we see the consumer today, they are tech savvy and smart to get review/feedback on the services/ product they are about to invest in. For this, the predominant source of information is the internet and social media where people can freely express themselves and brands can connect with customers one to one or with a personalised feel.

Also the penetration and users of this medium is much more than any other single medium. To adapt and evolve with time and trends will always be beneficial for every company to be in the race!

I think almost all companies need social media marketing. But there are some businesses/niches does not need it. For Example ball bearing etc.